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Cost-U-Less Reports July 2006 Sales Results

Posted on: Wednesday, 2 August 2006, 09:00 CDT

Cost-U-Less, Inc. (the "Company") (Nasdaq:CULS) today reported a decrease of 2.3% in same store sales (stores open a full 13 months), for the four weeks ended July 30, 2006 (July 2006). For the corresponding period a year ago (July 2005), the Company experienced a same store sales increase of 4.0%. Same store sales for the following fiscal periods were: Fiscal Month Fiscal YTD 4 weeks 30 weeks Ending July 30, 2006 (2.3%) 2.5% Ending July 26, 2005 4.0% 5.7% Total sales for July 2006 decreased 2.9% to $15.7 million, compared to $16.1 million for the corresponding period a year ago. Total sales for the following fiscal periods ($ in millions) were: Fiscal Month Fiscal YTD 4 weeks 30 weeks Ending July 30, 2006 $15.7 $123.9 Ending July 26, 2005 $16.1 $121.7

Cost-U-Less currently operates eleven stores in the Caribbean and Pacific region: U.S. Virgin Islands (2), Netherlands Antilles (2), Hawaiian Islands (2), California (1), Guam (2), American Samoa (1), and Republic of Fiji (1). The Company builds its business through delivering high-quality U.S. and local goods, progressive merchandising practices, sophisticated distribution capabilities, and superior customer service, primarily to island markets. Additional information about Cost-U-Less is available at www.costuless.com

This press release contains statements that are forward-looking. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements, including comparable store sales expectations, trends in or expectations regarding the Company's revenue growth, and the Company's growth plans are all based on currently available operating, financial, and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including that the Company may encounter substantial delays, increased expenses or loss of potential store sites due to the complexities, cultural differences, and local political issues associated with the regulatory and permitting processes in the island markets in which the Company may locate its stores. Prolonged adverse occurrences affecting tourism or air travel, particularly to non-U.S. destinations, including political instability, armed hostilities, terrorism, natural disasters or other activity that involves or affects air travel or the tourism industry generally, could cause actual results to differ materially from historical results or those anticipated. Other risks and uncertainties include the Company's small store base; the mix of geographic and product revenues; relationships with third parties; litigation; the Company's ability to maintain existing credit facilities and obtain additional credit; business and economic conditions and growth in various geographic regions; pricing pressures; political and regulatory instability in various geographic regions; and other risks and uncertainties detailed in the Company's filings with the SEC.

Source: Business Wire

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