IKEA Atlanta Continues Progress as Blue Walls Begin To Appear; Swedish Retailer's First Store in South, at Midtown's Atlantic Station, is on Track to Open Summer 2005

Business Wire, Sept 30, 2004

ATLANTA -- IKEA, the world's leading home furnishings retailer, today noted that nearly all framing is complete and now blue composite panels are being installed for its future store opening next Summer in Atlanta on 15 acres in a mixed-use development just off the I-75/85 connector. The 366,000 square-foot IKEA Atlanta will include 1,597 parking spaces below the store. In addition to 500 construction jobs, approximately 400 coworkers will join the IKEA family when the new store opens.

"Now that our structure is formed and our blue paneling is going up, we are proud that we are still on our way to a grand opening next summer," observed Pat Merwin, IKEA real estate manager. "With the roof already going up and now the blue panels, we hope to be fully enclosed, unaffected by the weather by the end of year." IKEA Atlanta will be the first IKEA store in the Southeast, with the closest stores being in Woodbridge, VA outside Washington, DC, or along I-10 in Houston.

IKEA currently has more than 200 stores in 32 countries, including 21 in the United States. For its U.S. expansion, the company is aiming to open approximately five new stores a year. Other U.S. stores being planned include: Bolingbrook, IL; Brooklyn, NY; Dublin, CA; Frisco, TX; Somerville, MA; Stoughton, MA; Tempe, AZ; and West Sacramento, CA.

Since its 1943 founding in Sweden, IKEA has offered a wide range of home furnishings and accessories of good design and function, at low prices so the majority of people can afford them. For two years in a row, IKEA has been named to Working Mother magazine's list of "100 Best Companies for Working Mothers" and last year received the magazine's Family Champion award in recognition of the company's family-friendly programs. IKEA is recognized as a socially responsible company, and supports initiatives that benefit causes such as children and the environment. To visit the IKEA Web site, please go to http://www.IKEA-usa.com. For information about employment, please visit http://JobsAt.IKEA-usa.com.