Exhibit 99.2



99 CENTS ONLY STORES HAS DECLARED A 5-FOR-4 STOCK SPLIT,  IN THE FORM OF A STOCK
DIVIDEND, PAYABLE NOVEMBER 12, 1998 TO SHAREHOLDERS OF RECORD NOVEMBER 5, 1998

CITY OF COMMERCE,  Calif.--(BUSINESS  WIRE)--Oct. 26, 1998--99 Cents Only Stores
(NYSE:NDN  - news)  announced  today  that its  board of  directors  declared  a
five-for-four  stock split on its common stock, in the form of a stock dividend,
payable on  November  12,  1998 to  shareholders  of record on November 5, 1998.

Prior to this dividend the Company had 19,773,074  shares of no par common stock
outstanding.  The  five-for-four  stock  split  increases  the  number of shares
currently   outstanding  to  approximately   24,716,342.   If  shareholders  are
contemplating  a sale they should  consult  their broker as to the effect of the
split shares and the resulting  price.  Fractional  shares will be paid based on
the closing price on the  shareholder  of record date adjusted for the effect of
the  split.  

We are pleased to announce this stock dividend as part of our continuing efforts
to broaden our stock's marketability and liquidity.

99 Cents Only Stores, the nation's oldest existing one-price retailer,  operates
61 retail stores all in Southern California, a wholesale division called Bargain
Wholesale.  The  Company  has  opened ten stores in the first ten months of this
year,  including  two  relocations  and the  Company's  first store in Riverside
County,  which  opens  tomorrow.  Through  its  Universal  International,   Inc.
subsidiary,  it operates 74 Only Deals and  Odd's-N-End's  multi-price  discount
stores  located in the upper Midwest,  New York and Texas.  99 Cents Only Stores
emphasizes name-brand consumables, priced at an excellent value, in attractively
merchandised clean stores.



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