FORM 8.1/8.3

Lodge with a RIS or Newstrack if appropriate and the Takeover Panel.  Use a
separate form for each class of securities in which dealings have been made.

Date of Disclosure28th January 2004

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3 OF THE CITY CODE ON TAKEOVERS
AND MERGERS

Date of dealing 27th January 2004

Dealing in (name of company)Safeway Plc

1. Class of securities (eg ordinary shares)Ordinary.

2.
Amount Bought   Amount Sold     Price Per Unit
1,333                                   2.8425
                      1,333                  2.8425
                      8,990                  2.845

3. Resultant total of the same class owned or controlled 
    (and percentage of class)   14,688,558.         1.40.%

4. Party making disclosureJ.P. Morgan Securities Ltd. 

5. EITHER (a) Name of purchaser / vendor (Note 1)
As above
OR (b) if dealing for discretionary client(s), name of fund management
organisation 

6. Reason for disclosure (Note 2)

(a) associate of 
(i)  offeror (Note 3)                                   NO
(ii) offeree company                                    NO

Specify which category or categories of associate (1-8 overleaf)


If category (8), explain

(b) Rule 8.3 (ie disclosure because of ownership or control of 1% or more of the
class of relevant securities dealt in)          YES 

Signed, for and on behalf of the party named in (4) above


(Also print name of signatory)
Sara Moth

Telephone and Extension number
020 7325 5808..