J Sainsbury Developments

Sainsbury(J) PLC
25 February 2003


SAINSBURY'S ANNOUNCES ITS INTENTION TO SELL J SAINSBURY DEVELOPMENTS LTD

J Sainsbury plc announces today that it is exploring opportunities to sell J
Sainsbury Developments Ltd (JSD), the specialist property trading and
development arm of Sainsbury's Property Company.

JSD is a relatively small part of the Sainsbury's group. In the year to 30 March
2002, JSD contributed an operating profit of £15 million, some 2 per cent of the
Group's total operating profit of £679 million.

Created by Sainsbury's some ten years ago, JSD has grown into a successful
property trader-developer. The JSD portfolio consists of around 20 projects,
with a book value of £141 million as at 30 March 2002. The projects are in
various stages of development, ranging from out-of-town retail to in-town
mixed-used developments, throughout the UK. These schemes are mostly unrelated
to Sainsbury's store development programme.

The JSD team will continue to progress these schemes until the completion of a
prospective sale for the business.

Sainsbury's has decided to concentrate activities on its core supermarket
portfolio therefore JSD no longer fits strategically into the business.

Simon Webster, Sainsbury's director of Property Planning and Development says:
'Sainsbury's is in a period of intense store expansion and improvement, which is
being delivered through a multi-format strategy that allows us to develop our
formats to meet the needs of our customers in local markets. This expansion is
in support of Sainsbury's business.  JSD has developed into a successful
property trader-developer, delivering new schemes which mostly do not relate to
Sainsbury's supermarket business, therefore, it is an appropriate time for us to
consider a disposal.'

'Sainsbury's Property Company has been developing its Retail Asset Development
team, whose skills focus on adding value to the business by maximising
opportunities to develop sites that enhance the Sainsbury's store, whether by
way of extension, redevelopment or more recently by re-formatting.'


The Corporate Finance team of Jones Lang LaSalle has been retained as marketing
advisers for the sale.


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