99 Cents Only Stores® Reports Total Sales of $290.7 Million and an Increase in Same-Store Sales of 1.5% for the Fourth Quarter of Fiscal 2008 Ended March 29, 2008

Business Wire, April 9, 2008

COMMERCE, Calif. -- 99C/ Only Stores[R] (NYSE:NDN) (the "Company") today reports total sales of $290.7 million for the fourth quarter of fiscal 2008 ended March 29, 2008. This represents an increase of 4.6% over total sales of $277.9 million for the same quarter last year. Retail sales for the quarter ended March 29, 2008 were $280.9 million, up 5.1% from retail sales of $267.2 million for the same quarter last year. The fourth quarter of fiscal 2008 contained 89 days of sales compared to 90 days of sales for the fourth quarter of fiscal 2007 due to our recent change in fiscal year to a retail calendar year.

The Company's same-store-sales for the fourth quarter ended Saturday, March 29, 2008 increased 1.5% versus the 89-day period ended Saturday, March 31, 2007. For the fourth quarter of 2008, the number of overall same-store-sales transactions increased by 1.6% while the average transaction size was essentially flat at $9.43. The fourth quarter of 2008 included the entire Easter holiday selling season, which positively impacted same-store-sales, but also included January 1, 2008, which negatively impacted same-store-sales, compared to the 89-day period ended Saturday, March 31, 2007, which does not include New Years Day.

Eric Schiffer, CEO of 99C/ Only Stores[R], stated, "We achieved same-store-sales growth of 1.5% for the fourth quarter, representing our tenth consecutive quarter of same-store-sales growth and, we believe, demonstrating the strength of our concept. This growth was primarily due to increased customer traffic, more transactions and the Easter selling season, our third busiest holiday, occurring entirely in the fourth quarter compared to Easter falling on April 8th last year. We will also see a negative impact on our same-store-sales comparison for the first nine days in the first quarter of fiscal 2009 as a result of this Easter season shift.

"We believe our increased number of transactions was primarily driven by new customers. Furthermore, as we attract new customers during tough economic times, and as these new customers become more familiar with our stores and assortment of quality name-brand consumables, priced at an excellent value, we would expect their average ticket to increase over time. However, the positive impact from growth in new customers will likely be somewhat offset by our current customers having less disposable income to spend in our stores.

"Although we were able to offset most price increases with our new variable pricing, sales for the fourth quarter were lower than planned primarily due to soft Easter sales and not being able to carry several key items during the fourth quarter due to vendor price increases. We believe that our average ticket was negatively affected by the temporary loss of these staple items which the majority we have already brought back, or expect to bring back this quarter, in new pricing or product packaging configurations. If we are not able to bring back and maintain the majority of these items, or if other key items exceed the price at which we can profitably offer them, this may continue to negatively impact our sales in fiscal 2009."

Total sales for the fiscal year ended March 29, 2008 were $1,199.5 million, up 8.6% over sales of $1,104.7 million for the fiscal year ended March 31, 2007. Total retail sales for the fiscal year ended March 29, 2008 were $1,159.0 million, up 8.9% over sales of $1,064.5 million for the fiscal year ended March 31, 2007. Full year fiscal 2008 contained 364 days of sales compared to 365 days of sales for the full year fiscal 2007 due to our recent change in fiscal year to a retail calendar year. Same-store-sales for the fiscal year ended March 29, 2008 increased 4.0% versus the 364-day period ended March 31, 2007.

Average annual sales per store for all stores open for at least 15 months as of March 29, 2008 were $4.6 million, up from $4.4 million for the fiscal year ended March 31, 2007. Average annual Texas store sales for the fiscal year ended March 29, 2008 were $2.6 million, based on 35 stores, up from $2.4 million for the fiscal year ended March 31, 2007, based on 36 stores. Average annual non-Texas store sales for the fiscal year ended March 29, 2008 were $4.9 million, based on 208 stores, up from $4.8 million for the fiscal year ended March 31, 2007, based on 193 stores. Excluding two impaired stores in Texas, average annual Texas store sales for the fiscal year ended March 29, 2008 were $2.7 million.

Annual sales per estimated saleable square foot for all stores open for at least 15 months as of March 29, 2008, increased to $265 from $253 for all stores open for at least 15 months as of March 31, 2007. Annual sales per estimated saleable square foot increased for Texas stores to $122 from $119 and increased to $292 from $283 for non-Texas stores. Excluding two impaired stores in Texas, annual sales per estimated saleable square foot for Texas was $134 as of March 29, 2008.

During the quarter ended March 29, 2008, the Company opened five stores and closed two Texas stores. During the twelve retail months ended March 29, 2008, the Company opened 16 stores, with nine located in California and seven in Texas. Gross and saleable retail square footage at the end of the quarter ended March 29, 2008 was 5.76 million and 4.52 million, an increase over last year of 4.2% and 4.2%, respectively. The average size store opened during fiscal 2008 was 17,707 gross square feet and the average size store companywide as of March 29, 2008 was 21,722 gross square feet. As of March 29, 2008, the Company had 265 stores, up 5.6% compared to 251 stores as of March 31, 2007.