99 Cents Only Stores Reports First-Quarter 1999 Sales of $93.8 Million.

CITY OF COMMERCE, Calif.--(BUSINESS WIRE)--April 6, 1999--

99 Cents Only Stores Retail Sales Are $64.6 Million, up 25.5 Percent;

Universal International Retail Sales Are $17.8 Million,

and Bargain Wholesale Sales Are $11.4 Million

99 Cents Only Stores(R) (NYSE:NDN) reported sales of $93.8 million for the first quarter ended March 31, 1999, and for the year to date, which represents an increase of $30.9 million, or 49.1 percent, over sales of $62.9 million during the first quarter last year.

Retail sales for 99 Cents Only Stores were $64.6 million, up $13.2 million, or 25.5 percent, from sales of $51.5 million in the same period in 1998. The full-quarter effect of new stores added in 1998 and stronger-than-anticipated same-store sales accounted for the majority of this increase. The number of 99 Cents Only Stores as of March 31, 1999, was 67, compared with 54 stores at March 31, 1998.

Same-store sales for 99 Cents Only Stores increased 8.5 percent during the first quarter of 1999, vs. 1.5 percent for the first quarter of 1998. The increase in same-store sales for 99 Cents Only Stores resulted primarily from the timing effect of Easter, the March 1998 increase in California's minimum wage, improvements in store traffic count, and an increase in the average transaction amount.

Same-store sales, adjusted to give effect for new 99 Cents Only Stores openings within a three-mile radius of existing stores, increased 10.1 percent in the first quarter, vs. 9.1 percent in the first quarter of 1998. Same-store sales are calculated for stores that have been open for at least a full 15 months.

Universal International retail sales were $17.8 million in the quarter, up 18.2 percent from 1998 despite five fewer stores. First-quarter same-store sales for Universal increased 15.4 percent, vs. 5.6 percent for the first quarter of 1998. Additionally, during the quarter Universal closed underperforming stores.

Bargain Wholesale sales for the first quarter ended March 31, 1999, were $11.4 million, compared with $11.4 million for the same period of 1998.

99 Cents Only Stores(R) opened three stores during the first quarter of 1999. The company's next store will open on April 9, 1999, which is the 99th day of 1999, in Pomona, Calif. The company also has secured locations for eight new stores.

David Gold, president of the company, said: "We are pleased to announce continued strong sales in the first quarter of 1999. Our store expansion is also proceeding in accordance with plan. As previously stated, the company plans to open at least 13 new stores in 1999, including its first store in the Las Vegas, Nev., area."

99 Cents Only Stores(R), the nation's oldest existing one-price retailer, operates 67 retail stores, all in Southern California; a wholesale division called Bargain Wholesale; and, through its Universal International subsidiary, 69 Only Deals and Odd's-N-End's multiprice discount stores, located in the upper Midwest, upstate New York and Texas.

99 Cents Only Stores(R) emphasizes name-brand consumables, priced at an excellent value, in attractively merchandised stores.

This news release contains forward-looking statements, as referenced in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable, and actual results may differ. Factors that could cause actual results to differ materially from these forward-looking statements include changes in the competitive marketplace, general economic conditions, factors affecting the retail industry in general, the timing of new-store openings, the ability of the company to acquire inventory at favorable costs, and other factors discussed in the company's filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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