IKEA Canton Progresses as Blue Walls Start to Appear; Swedish Retailer's Metro Detroit Store on Track to Open Summer 2006 along I-275

Business Wire, Sept 29, 2005

PLYMOUTH MEETING, Pa. -- IKEA, the world's leading home furnishings retailer, today noted that steel framing is complete and installation of blue composite panels has begun on its future store opening next summer in Canton, MI. Under construction on 21 acres at the intersection of Ford and Haggerty Roads off I-275, the future 311,000 square-foot IKEA Canton will be the first IKEA store and restaurant destination in Michigan, and 28th in the U.S. (The closest IKEA stores are in the Chicago area and in greater Toronto.) In addition to 500 construction jobs, more than 400 coworkers will join the IKEA family when the new store opens.

"With the store's structure now formed and blue paneling going up, we definitely are on track to a grand opening next summer," observed Joseph Roth, IKEA public affairs director. "We hope to be fully enclosed before winter, and cannot wait to open IKEA Canton in Summer 2006."

IKEA currently has more than 220 stores in 33 countries, including 25 in the U.S., where other stores are being planned in: Brooklyn, NY; Dublin, CA; Round Rock, TX; Somerville, MA; Stoughton, MA; and West Sacramento, CA.

Since its 1943 founding in Sweden, IKEA has offered home furnishings and accessories of good design and function, at low prices so the majority of the people can afford them. For three consecutive years, IKEA has been named to Working Mother magazine's annual list of the "100 Best Companies for Working Mothers" and Training magazine's annual "Top 100" ranking of companies that excel at human capital development - as well as to this year's FORTUNE's "100 Best Companies to Work For" list. IKEA incorporates environmentally friendly efforts into day-to-day business and continuously 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 working at IKEA, please visit http://JobsAt.IKEA-usa.com.