KROGER COMPLETES NEW BANK CREDIT FACILITY

CINCINNATI, OH, May 21, 2004 – The Kroger Co. (NYSE: KR) today announced it has executed a new revolving credit facility totaling $1.8 billion dated May 20, 2004. The new five-year facility replaces a 364-day facility in the amount of $1 billion, dated May 21, 2003 and a five-year credit facility in the amount of $812.5 million dated May 23, 2001.

“This credit facility is an important part of Kroger's financial strategy," said Scott Henderson, Kroger vice president and treasurer. "Commitment levels exceeded our expectations and we appreciate the continuing support of our banks."

Citibank, N.A. and JPMorgan Chase Bank are co-Administrative Agents for the consortium of bank lenders. Bank of America, N.A.; The Royal Bank of Scotland plc; The Bank of Tokyo-Mitsubishi, Ltd., Chicago Branch; and Union Bank of California are co-Syndication Agents. Copies of the credit agreement will be filed with the Securities and Exchange Commission in a Form 8-K.

Headquartered in Cincinnati, Ohio, Kroger is one of the nation’s largest retail grocery chains. At the end of fiscal 2003, the Company operated (either directly or through its subsidiaries) 2,532 supermarkets and multi-department stores in 32 states under two dozen banners including Kroger, Ralphs, Fred Meyer, Food 4 Less, King Soopers, Smith’s, Fry’s, Fry’s Marketplace, Dillons, QFC and City Market. Kroger also operated (either directly, through its subsidiaries or franchise agreements) 802 convenience stores, 440 fine jewelry stores, 466 supermarket fuel centers and 42 food processing plants. For more information about Kroger, please visit our web site at www.kroger.com.

« Go back