99 Cents Only Stores Reports Quarterly Sales of $106.7 Million for the Third Quarter Ended Sept. 30, 1999, a 36.9% Increase Over the Third Quarter of 1998.

CITY OF COMMERCE, Calif.--(BUSINESS WIRE)--Oct. 5, 1999--

A Record Seven New Stores, Including One Relocation,

Were Opened During the Third Quarter of 1999

99 Cents Only Stores (NYSE:NDN) reported total sales of $106.7 million for the third quarter and sales of $299.9 million for the nine months ended Sept. 30, 1999.

This represents an increase of $28.7 million, or 36.9%, over sales of $78.0 million during the third quarter of 1998, and an increase of $87.3 million, or 41.1%, for the first nine months of 1999, as compared with the first nine months of 1998. Sales in 1998 only included $2.5 million of Universal sales from the date of acquisition Sept. 16, 1998, through Sept. 30, 1998.

Retail sales for 99 Cents Only Stores(R) for the quarter and the nine-month period ended Sept. 30, 1999, were $76.4 million and $210.9 million, respectively, an increase of 29.2% and 26.1%, respectively, over the same periods last year. New 1999 stores and the full-period effect of stores added in 1998 accounted for the majority of this increase.

The number of 99 Cents Only Stores(R) as of Sept. 30, 1999, was 77, compared with 60 stores as of Sept. 30, 1998. 99 Cents Only Stores(R) opened a record seven stores and closed one store during the third quarter of 1999. A total of 14 new stores, including one relocation, were opened for the first nine months of 1999.

Comparable same-store sales for the third quarter increased 2.9%. Comparable same-store sales are calculated for stores that have been open for more than 15 months. Comparable same-store sales, adjusted to give effect for new store openings within a three-mile radius of existing stores, increased 5.5% in the third quarter.

Universal International retail sales for the quarter and the nine-month period ended Sept. 30, 1999, were $18.0 million and $54.4 million, an increase of 12.2% and 13.8%, respectively, over the same periods last year, despite 12% fewer stores. Universal had 66 stores at Sept. 30, 1999, vs. 75 stores at Sept. 30, 1998. Universal's same-store sales increased 18.4% during the third quarter ended Sept. 30, 1999.

Bargain Wholesale sales for the quarter and the nine-month period ended Sept. 30, 1999, were $12.2 million and $34.6 million, respectively, compared with $9.4 million and $30.8 million, excluding $7.0 million and $12.0 million of shipments to Universal, billed at cost in 1998.

David Gold, president of the company, said: "We are pleased to announce continued strong sales growth for the third quarter of 1999. We expect to open at least three more stores this year, including our first store in the Las Vegas area. Our next store will open on October 14, 1999, in National City, San Diego County, California."

99 Cents Only Stores, the nation's oldest existing one-price retailer, operates 77 99 Cents Only Stores(R), all in Southern California, a wholesale division called Bargain Wholesale, and through its Universal International subsidiary, currently operates 66 Only Deals and Odd's-N-End's multi-price 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 (the "Act"). 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 identify and obtain leases for new stores, 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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