Bill McEwan, President and Chief Executive Officer, Sobeys Inc., announced yesterday the Board of Directors' approval of the appointment of Mr. Glenn Hynes, Executive Vice President and Chief Financial Officer effective immediately.

Glenn joined Sobeys in 1996 and has advanced through many areas of leadership responsibility including Vice President Control and Administration, Senior Vice President Strategic Planning and Development, and most recently, Senior Vice President Planning and Business Intelligence.

In his new capacity, Glenn will assume overall responsibility and accountability for the consolidated financial reporting of Sobeys Inc., corporate finance; implementation of and adherence to appropriate accounting policies and procedures; financial planning; treasury; taxation; legal services; audit and information technology.

A graduate of the University of Prince Edward Island (BBA), Glenn also holds a Chartered Accountancy (CA) designation. A recipient of Canada's Top 40 Under 40 in 2000, Glenn was chosen from among Canada's elite men and women who demonstrated outstanding leadership in their chosen fields prior to reaching the age of 40.

Mr. McEwan added "I am extremely confident in Glenn's capabilities as he assumes his new and critical role. Glenn has demonstrated his financial and business management capabilities throughout his five years at Sobeys. He was a key member of the Oshawa Group acquisition and integration team and has most recently contributed significantly to the development of our "next stage of development" plans. We are fortunate to have Glenn fully engaged in our business."

Sobeys Inc., headquartered in Stellarton, Nova Scotia, is a leading national food distributor committed to satisfying its customers' current demands for products and services and earning the right to exceed their expectation with value added offerings in the future. The company is represented principally under the banners of IGA, Sobeys, Price Chopper and operates Canada's only national foodservice distributor, SERCA Foodservice Inc.