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Press release from CNW Group

Blackhawk Network Holdings, Inc. Announces Estimated Price Range for Initial Public Offering

Monday, April 08, 2013

Blackhawk Network Holdings, Inc. Announces Estimated Price Range for Initial Public Offering

07:01 EDT Monday, April 08, 2013

PLEASANTON, Calif., April 8, 2013 /CNW/ - Blackhawk Network Holdings, Inc., a majority-owned subsidiary of Safeway Inc. (NYSE: SWY), today announced that it is filing an amended registration statement with the Securities and Exchange Commission in connection with an initial public offering, or IPO, of 10,000,000 shares of Blackhawk's Class A common stock (with an additional 1,500,000 shares subject to the underwriters' option to purchase additional shares) at an estimated offering price of $20 to $22 per share. The IPO will consist solely of shares to be offered by existing stockholders, including Safeway Inc.

Goldman, Sachs & Co., BofA Merrill Lynch, Citigroup and Deutsche Bank Securities will serve as joint-bookrunning managers, with Goldman, Sachs & Co. serving as the global coordinator for the proposed offering. Barclays, BMO Capital Markets, Credit Suisse, Piper Jaffray, Raymond James and Wells Fargo Securities will serve as co-managers for the proposed offering. The offering will be made only by means of a prospectus.

A copy of the preliminary prospectus may be obtained from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at: (866) 471-2526, or by email to: prospectus-ny@ny.email.gs.com; BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, by email to: dg.prospectus_requests@baml.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at: (800) 831-9146 ; Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, by telephone at: (800) 503-4611, or by email to: prospectus.cpdg@db.com.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Blackhawk is a leading prepaid payment network utilizing proprietary technology to offer a broad range of gift cards, other prepaid products and payment services in the United States and 18 other countries.

SOURCE: Blackhawk Network Holdings, Inc.

For further information:

Media: Teri Llach, 925-738-7290, teri.llach@bhnetwork.com, or Investors: Patrick Cronin, 925-226-9939, investor.relations@bhnetwork.com

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