Expanding in the U.S., Swedish Retailer IKEA to Grow Presence in Southeast with Plans for a Store in Charlotte, NC.

IKEA Charlotte, to Open Spring 2009, Will Be 1st IKEA Store in Carolinas, 4th in Southeast

CONSHOHOCKEN, Pa. -- IKEA, the world's leading home furnishings retailer, today announced plans for a store in Charlotte, NC, increasing the Swedish retailer's planned presence in the Southeastern United States. Pending city approvals and infrastructure improvements, construction of the future IKEA Charlotte could begin as early as next summer, with an anticipated opening in Spring 2009. Until then, customers can shop at IKEA Atlanta, at IKEA Woodbridge (VA), or online at www.IKEA.com. (IKEA stores will open Fall 2007 in the South Florida city of Sunrise, and in Orlando.)

The 345,000 square-foot IKEA Charlotte, with 1,600 parking spaces, will be built on 25 acres at the northeastern corner of I-85 and the City Boulevard exit, and will reflect the same unique architectural design for which IKEA stores are known worldwide. In addition, IKEA will be selling approximately three acres that will be available for complementary retail and restaurant uses, and Crescent Resources, the seller of the property, will develop the surrounding 135 acres, after the store opens.

"We are thrilled to be locating an IKEA store at this site in Charlotte where we can complement our southeastern presence established in Atlanta, and the stores underway in Florida," said Doug Greenholz, IKEA real estate manager. "We know IKEA Charlotte will be more convenient to existing customers while also introducing the unique IKEA family-friendly shopping experience to new shoppers throughout the Carolinas."

Besides offering nearly 10,000 exclusively designed items, IKEA Charlotte will feature three model homes, 50 room settings, a supervised children's play area, and a 300-seat restaurant serving Swedish specialties such as meatballs with lingonberries and salmon plates, as well as American dishes. Other family-friendly features will include a 'Children's IKEA' area in the showroom, baby care rooms, preferred parking and play areas throughout the store.

In addition to jobs created during the construction phase, approximately 400 coworkers will join the IKEA family when the new store opens. IKEA Charlotte will provide significant annual sales and property tax revenue for local governments and schools. "We also look forward to being a partner in the local community," continued Greenholz.

There currently are more than 250 IKEA stores in 34 countries, including 29 in the U.S., where other stores are being planned in: Brooklyn, NY; Draper, UT; Orlando, FL; Portland, OR; Somerville, MA; Sunrise, FL; and West Chester, OH. Since its 1943 founding in Sweden, IKEA has offered a wide range of home furnishings of good design and function, at low prices so the majority of the people can afford them. IKEA has been ranked in FORTUNE's annual "100 Best Companies to Work For" List (two years in a row), Working Mother magazine's annual list of "100 Best Companies for Working Mothers" (four years in a row) and Training magazine's annual "Top 100" ranking of companies that excel at human capital development (four years in a row). IKEA incorporates environmentally and socially responsible efforts into day-to-day business, and continually supports initiatives that benefit causes such as children and the environment. To visit the IKEA Web site or for information about working at IKEA, please go to http://www.IKEA-usa.com.