Exhibit 99.1

Investor contact: Krystyna Lack
Vice President, Treasury Services
(201) 571-4320

Press contact: Lauren La Bruno
Senior Director, Public Relations
(201) 571-4453

THE GREAT ATLANTIC & PACIFIC TEA COMPANY, INC. PROVIDES
UPDATE ON TURNAROUND PLAN AND ANNOUNCES SECOND QUARTER
2010 RESULTS:

*Initial Phase of Turnaround Completed with New Executive Team in Place

*First Phase of Store Footprint and Cost Rationalization Completed

MONTVALE, N.J. – October 21, 2010 – The Great Atlantic & Pacific Tea Company (A&P, NYSE Symbol: GAP) today provided an update on its comprehensive turnaround plan to strengthen the Company’s operating and financial foundation and enhance its customers’ experience, and announced fiscal 2010 second quarter results.

Second Quarter 2010 Financial Results

•		Sales for the second quarter were $1.9 billion versus $2.1 billion in last fiscal year’s second quarter. Comparable store sales decreased 6.6 percent.
•		For the second quarter, reported loss from continuing operations was $143 million versus last year’s second quarter reported loss from continuing operations of $62 million.
•		EBITDA was negative $45 million for the second quarter versus $42 million for the last fiscal year’s second quarter.
•		Excluding certain non-cash and non-operating items (detailed on Schedule 3), adjusted EBITDA was $8 million versus $65 million for last fiscal year’s second quarter.
•		Availability under the Company’s credit facility was $181 million at the end of the second quarter.

Sam Martin, President and Chief Executive Officer, said, “Our second quarter financial results are disappointing. But, we have developed a comprehensive turnaround plan and have quickly begun to implement it. The first step in that plan is the formation of a new management team. With our talented and deeply experienced new team now in place, we have begun to execute against the other steps in the plan on an accelerated basis.”

Turnaround Plan

The Company’s Turnaround Plan consists of five key building blocks, which include:

•		Installing a strong management team;
•		Strengthening liquidity;
•		Reducing structural and operating costs;
•		Improving the A&P value proposition for customers; and
•		Enhancing the customer experience in stores.

New Executive Management Team

Since the end of the last quarter, A&P made a series of executive appointments that complete the leadership team under President and CEO Sam Martin and enable the Company to accelerate the implementation phases of its turnaround plan. The new management team includes:

•		Sam Martin, President and Chief Executive Officer: Martin has more than three decades of management experience in the food retail industry with direct operational responsibility. He joined A&P from OfficeMax, where he was Chief Operating Officer. He also held senior management roles at Wild Oats Markets, Inc., ShopKo Stores, Inc., and Fred Meyer.
•		Jake Brace, Chief Administrative Officer: Brace is overseeing the Finance and Accounting, Real Estate and Information Systems departments. He brings 25 years of strategic and financial expertise and successful turnaround and operational experience. He served as EVP and CFO as well as Chief Restructuring Officer of United Airlines.
•		Tom O’Boyle, EVP of Merchandising and Marketing: O’Boyle is leading A&P’s Merchandising, Marketing, Supply & Logistics departments. With more than 25 years of retail experience in Merchandising and Marketing at Jewel Food Stores, Albertson’s and Sears, one of his top priorities is to develop a synergy among these three critical functions.
•		Paul Hertz, EVP of Operations: Hertz is leading field operations and brings more than 20 years of senior retail sales management and operations experience to A&P. He has held senior posts at OfficeMax, Wild Oats Markets, Inc., and ShopKo Stores, Inc.
•		Carter Knox, SVP of Human Resources and Communications: Knox brings extensive expertise to the leadership of the Company’s Human Resources, Labor Relations and Corporate Communications. He has held senior HR and communications management positions in retail for more than 30 years at OfficeMax and Fred Meyer.
•		Chris McGarry, SVP and General Counsel: McGarry has been with A&P’s Legal Services for five years and currently oversees Legal Services and Risk Management. He previously held general counsel and other related executive positions with The Grand Union Company, Tibbett & Britten Group and Exel.

Strengthening Liquidity

The Company is negotiating an agreement with its existing banks and several new lenders to add a new-money term loan to its existing asset-backed facility. The new term loan is expected to be backed by, primarily, leasehold assets and other collateral not currently contained in the borrowing base. The complex structure of the new loan has pushed the closing off several weeks. The Company believes, however, that it will be able to close and fund the transaction. In addition, in an effort to bolster liquidity and shed non-core assets, the Company contracted to sell seven stores in Connecticut. That transaction is scheduled to close November 1.

A&P continues to pursue additional financing initiatives including sale-leaseback transactions and sales of additional non-core and/or non-performing assets, as well as reviewing our store portfolio for additional opportunities.

Reducing Structural and Operational Costs

The Company has identified significant opportunities for reducing its structural and operating costs by working with its key operating partners, rationalizing its store footprint and eliminating overhead costs.

The Company has recently closed 25 underperforming stores and is in active talks with several key operating partners to seek ways to lower its structural operating costs. In addition, the Company is in discussions with its labor union partners to identify opportunities to reduce its store costs.

Finally, A&P has completed the first phase of a talent assessment and taken steps to flatten its organization to lower general and administrative costs, improving the efficiency within its corporate headquarters. The Company reduced headcount, saving roughly $10 million annually. In addition, the Company has other G&A initiatives underway, targeting an overall G&A reduction of approximately $40 million per year.

Improving the Customer Value Proposition

A&P continues to work on many fronts to drive loyalty and engage new customers with the goal of enhancing the value it offers in its stores. The Company is focused on refining its product mix, pricing and promotion initiatives, and it continues to improve the way it cares for and serves customers both in stores and through its company-wide customer service operations. A&P is also offering customers additional variety and value by enhancing and expanding its private label brands, including America’s Choice, Food Basics and The Food Emporium Trading Company.

Enhancing the Customer Experience in Stores

Resulting from the talent assessment mentioned above, the Company is now moving forward with a series of training initiatives designed to improve the overall customer experience across all stores.

The Company is also identifying target customer segments and clusters through data analysis of its loyalty card shoppers to ensure it offers the most relevant assortment and value. At the same time, it is augmenting the in-store customer experience with traditional and new tools to provide individualized offers and a more customer-relevant shopping experience.

“Since I joined A&P in late July, we have moved quickly to implement our comprehensive turnaround plan,” Martin added. “Although we clearly have a lot of work ahead of us, we have already made solid initial progress. I want to thank all of our talented associates for their dedication and commitment to improving A&P’s performance and enhancing the value we provide to our customers.”

Christian Haub, Executive Chairman, said, “The Board and I are encouraged by the initial actions taken by Sam and his new executive team to strengthen A&P’s operating foundation. The Board and the Company’s major shareholders, Tengelmann and Yucaipa, have full confidence that this team will continue to make significant, incremental progress in executing our turnaround plan for the benefit of all our stakeholders.”

About A&P

Founded in 1859, A&P is one of the nation’s first supermarket chains. The Company operates 428 stores in eight states and the District of Columbia under the following trade names: A&P, Waldbaum’s, Pathmark, Pathmark Sav-a-Center, Best Cellars, The Food Emporium, Super Foodmart, Super Fresh and Food Basics.

The Company invites investors and other interested parties to listen to a live audio Webcast to be held at 9:00 AM Eastern Time on Friday, October 22, at which members of the Company’s senior management team will discuss the Company’s quarterly results. The Webcast may be accessed through a link on the “Investors” page of the Company’s Website, www.aptea.com. Listeners who cannot participate in the live broadcast will be able to hear a recorded replay of the broadcast beginning on the afternoon of October 22 and available through November 19, 2010.

We are required to provide certain reconciliations to GAAP financial measures for any non-GAAP financial measures presented in our press releases and SEC filings. The Company uses the non-GAAP measures “Adjusted income (loss) from operations”, “EBITDA” and “Adjusted EBITDA” to evaluate the Company’s liquidity and performance of our business, and these are among the primary measures used by management for planning and forecasting of future periods. Adjusted income (loss) from operations is defined as income (loss) from operations adjusted for items the Company considers non-operating in nature that management excludes when evaluating the results of the ongoing business. EBITDA is defined as earnings before interest expense, interest and dividend income, taxes, depreciation, amortization and discontinued operations. Adjusted EBITDA is defined as EBITDA adjusted to exclude the following, if applicable: (i) goodwill, long-lived asset and intangible asset impairment, (ii) net restructuring and other charges, (iii) real estate related activity, (iii) stock based compensation, (iv) pension withdrawal costs, (v) LIFO provision adjustments, (vi) nonoperating (loss) income and (vii) other items that management considers nonoperating in nature and excludes when evaluating the results of the ongoing business. The Company believes the presentation of these measures is relevant and useful for investors because it allows investors to view results in a manner similar to the method used by the Company’s management and makes it easier to compare the Company’s results with other companies that have different financing and capital structures or tax rates. In addition, these measures are also among the primary measures used externally by the Company’s investors, analysts and peers in its industry for purposes of valuation and comparing the results of the Company to other companies in its industry. Adjusted income from operations and Adjusted EBITDA are reconciled to Net Loss on Schedule 3 of this release. In addition, EBITDA and Adjusted EBITDA are reconciled to Net Cash used in operating activities on Schedule 4 of this release.

This release contains forward-looking statements about the future performance of the Company, which are based on management’s assumptions and beliefs in light of the information currently available to it. The Company assumes no obligation to update the information contained herein. These forward-looking statements are subject to uncertainties and other factors that could cause actual results to differ materially from such statements including, but not limited to: the ability to timely and effectively implement the turnaround strategy; the ability to access capital and capitalize on unencumbered and under-encumbered assets; the ability to enter into sale-leaseback transactions or sell non-core assets; various operating factors and general economic conditions; competitive practices and pricing in the food industry generally and particularly in the Company’s principal geographic markets; the Company’s relationships with its employees and the terms of future collective bargaining agreements; the costs and other effects of legal and administrative cases and proceedings; the nature and extent of continued consolidation in the food industry; capital market conditions that may negatively affect the Company’s cost of capital and the ability of the Company to access capital; availability of capital to the Company; supply or quality control problems with the Company’s vendors; and changes in economic conditions that may affect the buying patterns of the Company’s customers.

The Great Atlantic & Pacific Tea Company, Inc.
Schedule 1 — GAAP Earnings for the 12 and 28 weeks ended September 11, 2010 and September 12, 2009
(Unaudited)
(In thousands, except share amounts and store data)

		For the 12 Weeks Ended								For the 28 Weeks Ended
		September 11, 2010				September 12, 2009				September 11, 2010				September 12, 2009
Sales		$	1,918,279			$	2,065,061			$	4,483,209			$	4,855,304
Cost of merchandise sold			(1,355,572	)			(1,441,703	)			(3,156,690	)			(3,387,077	)
Gross margin			562,707				623,358				1,326,519				1,468,227
Store operating, general and administrative expense			(631,224	)			(631,924	)			(1,452,240	)			(1,478,629	)
Long-lived asset impairment			(30,250	)			—				(35,648	)			—
Loss from operations			(98,767	)			(8,566	)			(161,369	)			(10,402	)
Nonoperating income (loss) (1)			2,177				(7,079	)			10,454				(8,954	)
Interest expense, net			(46,126	)			(48,508	)			(107,268	)			(102,715	)
Loss from continuing operations before income taxes			(142,716	)			(64,153	)			(258,183	)			(122,071	)
(Provision for) benefit from income taxes			(105	)			1,994				(245	)			1,608
Loss from continuing operations			(142,821	)			(62,159	)			(258,428	)			(120,463	)
Discontinued operations:
Loss from operations of discontinued businesses, net of tax			(10,853	)			(18,150	)			(17,968	)			(25,006	)
Gain on disposal of discontinued businesses, net of tax			—				—				79				—
Loss from discontinued operations			(10,853	)			(18,150	)			(17,889	)			(25,006	)
Net loss		$	(153,674	)		$	(80,309	)		$	(276,317	)		$	(145,469	)
Net Loss per share — basic:
Continuing operations		$	(2.73	)		$	(1.18	)		$	(5.01	)		$	(2.29	)
Discontinued operations			(0.21	)			(0.34	)			(0.33	)			(0.47	)
Net loss per share — basic		$	(2.94	)		$	(1.52	)		$	(5.34	)		$	(2.76	)
Net loss per share — diluted:
Continuing operations		$	(2.76	)		$	(3.06	)		$	(14.72	)		$	(5.90	)
Discontinued operations			(0.19	)			(0.68	)			(0.94	)			(1.19	)
Net loss per share — diluted		$	(2.95	)		$	(3.74	)		$	(15.66	)		$	(7.09	)
Weighted average common shares outstanding — basic			53,778,502				53,196,728				53,618,284				53,019,715
Weighted average common shares outstanding — diluted			56,970,721				26,614,466				18,949,997				21,044,730
Gross margin rate			29.33	%			30.19	%			29.59	%			30.24	%
Store operating, general and administrative expense rate			32.91	%			30.60	%			32.39	%			30.45	%
Depreciation and amortization		$	51,518			$	57,784			$	121,897			$	135,572
Number of stores operated at end of period			428				432				428				432

The Great Atlantic & Pacific Tea Company, Inc.

		September 11, 2010				February 27, 2010
Cash and short-term investments		$	94			$	252
Other current assets			685				679
Total current assets			779				931
Property-net			1,365				1,488
Other assets			387				408
Total assets		$	2,531			$	2,827
Total current liabilities		$	921			$	730
Total non-current liabilities			2,290				2,493
Series A redeemable preferred stock			136				133
Stockholders’ deficit			(816	)			(529	)
Total liabilities and stockholders’ deficit		$	2,531			$	2,827
Other Statistical Data
Total Debt and Capital Leases		$	1,143			$	1,141
Total Long Term Real Estate Liabilities			333				334
Temporary Investments and Marketable Securities			—				(169	)
Net Debt		$	1,476			$	1,306
Total Retail Square Footage (in thousands)			18,100				18,107
Book Value Per Share		$	(14.50	)		$	(9.47	)

		For the 28				For the 28
		weeks ended				weeks ended
		September 11, 2010				September 12, 2009
Capital Expenditures		$	43			$	50

The Great Atlantic & Pacific Tea Company, Inc.

		For the 12 Weeks Ended								For the 28 Weeks Ended
		September 11, 2010				September 12, 2009				September 11, 2010				September 12, 2009
Net loss, as reported		$	(153,674	)		$	(80,309	)		$	(276,317	)		$	(145,469	)
Loss from discontinued operations			10,853				18,150				17,889				25,006
(Provision for) benefit from income taxes			105				(1,994	)			245				(1,608	)
Interest expense, net			46,126				48,508				107,268				102,715
Nonoperating (income) loss			(2,177	)			7,079				(10,454	)			8,954
As reported loss from operations		$	(98,767	)		$	(8,566	)		$	(161,369	)		$	(10,402	)
Adjustments:
Impairment of long-lived assets			30,250				—				35,648				—
Net restructuring and other			9,297				1,756				13,229				2,900
Real estate related activity			(2,179	)			11,461				(232	)			9,228
Pension withdrawal costs			—				—				—				2,445
Self insurance reserve			16,152				—				16,152				—
Stock-based compensation			760				1,190				(101	)			4,043
LIFO adjustment			641				928				1,497				2,166
Total adjustments			54,921				15,335				66,193				20,782
Adjusted (loss) income from operations		$	(43,846	)		$	6,769			$	(95,176	)		$	10,380
Depreciation and amortization			51,518				57,784				121,897				135,572
Adjusted EBITDA			7,672				64,553				26,721				145,952
Effect of closed stores			8,680				5,572				17,995				10,694
Net adjusted EBITDA		$	16,352			$	70,125			$	44,716			$	156,646
		For the 12 Weeks Ended								For the 28 Weeks Ended
		September 11, 2010				September 12, 2009				September 11, 2010				September 12, 2009
Store operating, general and administrative expense, as reported		$	631,224			$	631,924			$	1,452,240			$	1,478,629
Adjustments:
Net restructuring and other			(9,297	)			(1,756	)			(13,229	)			(2,900	)
Real estate related activity			2,179				(11,461	)			232				(9,228	)
Pension withdrawal costs			—				—				—				(2,445	)
Self insurance reserve			(16,152	)			—				(16,152	)			—
Stock-based compensation			(760	)			(1,190	)			101				(4,043	)
Total adjustments		$	(24,030	)		$	(14,407	)		$	(29,048	)		$	(18,616	)
Adjusted store operating, general and administrative expense		$	607,194			$	617,517			$	1,423,192			$	1,460,013
Adjusted store operating, general and administrative expense rate			31.65	%			29.90	%			31.74	%			30.07	%

The Great Atlantic & Pacific Tea Company, Inc.

		For the 12 Weeks Ended								Fdor the 28 Weeks Ended
		September 11, 2010				September 12, 2009				September 11, 2010				September 12, 2009
Net cash used in operating activities		$	(36,158	)		$	24,184			$	(94,423	)		$	21,226
Adjustments to calculate EBITDA:
Long-lived asset impairment			(30,902	)			(2,683	)			(36,792	)			(3,739	)
Nonoperating income (loss)			2,177				(7,079	)			10,454				(8,954	)
Net interest expense			46,126				48,508				107,268				102,715
Non-cash interest expense			(10,473	)			(14,516	)			(23,258	)			(27,393	)
Asset disposition initiatives			—				(10,010	)			(4	)			(8,998	)
Occupancy charges for normal store closures			—				(17,114	)			(466	)			(18,374	)
Loss on disposal of owned property			2,832				324				1,807				3,580
Amortization of deferred real estate income			1,041				1,331				2,412				2,835
Loss from operations of discontinued operations			10,853				18,150				17,968				25,006
Provision for income taxes			105				(1,994	)			245				(1,608	)
Pension withdrawal costs			—				—				—				(2,445	)
Self insurance reserve			(21,661	)			(1,613	)			(21,661	)			(1,613	)
Employee benefit related costs			(4,748	)			—				(6,713	)			—
LIFO reserve			(641	)			(928	)			(1,497	)			(2,166	)
Stock compensation expense			(760	)			(1,190	)			101				(4,043	)
Working capital changes
Accounts receivable			(13,395	)			(1,506	)			(17,534	)			(21,454	)
Inventories			2,808				21,299				7,209				17,236
Prepaid expenses and other current assets			8,769				16,475				7,560				25,054
Accounts payable			(11,735	)			(53,840	)			(13,319	)			(60,147	)
Accrued salaries, wages, benefits and taxes			(249	)			1,956				(2,308	)			14,282
Other accruals			(8,545	)			(12,091	)			(7,893	)			8,712
Other assets			1,575				7,715				2,799				9,928
Other non-current liabilities			17,839				26,887				38,928				47,916
Other, net			70				(126	)			99				(1,340	)
EBITDA			(45,072	)			42,139				(29,018	)			116,216
Adjustments:
Impairment of long-lived assets			30,250				—				35,648				—
Net restructuring and other			9,297				1,756				13,229				2,900
Real estate related activity			(2,179	)			11,461				(232	)			9,228
Pension withdrawal costs			—				—				—				2,445
Self insurance reserve			16,152				—				16,152				—
Stock-based compensation			760				1,190				(101	)			4,043
LIFO adjustment			641				928				1,497				2,166
Nonoperating (income) loss			(2,177	)			7,079				(10,454	)			8,954
Total adjustments			52,744				22,414				55,739				29,736
Adjusted EBITDA		$	7,672			$	64,553			$	26,721			$	145,952
Effect of closed stores			8,680				5,572				17,995				10,694
		$	16,352			$	70,125			$	44,716			$	156,646