Repurchase of shares

9/18/2000 11:29 AM EST

In connection with the release of Axfood's half-year interim report, Axfood
announced that payment for the company's acquisition of HP Billigt & Nära
would consist of repurchased shares.

The Board's proposal to the Extraordinary General Meeting on October 20
entails that the Board will be authorized - during the period up until the
next annual general meeting - to repurchase a maximum of 1,600,000 shares, to
be used as payment for the acquisition of HP Billigt & Nära.

The share repurchase will take place on the OM Stockholm Exchange or through a
directed offer to all shareholders.

For further information, please contact:
Mats Jansson, President and CEO, tel. +46-8-700 66 31, mobile +46-70-569 48
11, or
Lars Nilsson, Executive Vice President and CFO, tel. +46-8-700 66 33, mobile
+46-70-569 66 33

Axfood AB is one of the largest listed food wholesale and retail companies in
the Nordic countries. The company conducts wholesale and retail trading
through a number of store profiles, including Hemköp, Willys, Spar, Vivo and
Tempo.
Consolidated annual sales are estimated at approximately SEK 30 billion, with
approximately 8,000 full-year employees.
The company has over 1,000 stores in Sweden, of which 250 are wholly or partly
owned, while the remainder are run by independent merchants tied to the
company through agreements. In addition, the company has some 330 stores in
Finland, of which 85 are wholly owned and the remainder operated by
independent merchants. The market share is nearly 20 percent in Sweden and
approximately 10 percent in Finland.
Axfood AB is listed on the A-list of the OM Stockholm Exchange. Axel Johnson
AB is the principal owner, with approximately 45 percent of the shares.