EXHIBIT 99.1

99  CENTS  ONLY  STORES  REPORTS  IT WILL DELAY ITS FOURTH QUARTER 2003 EARNINGS
RELEASE.

     CITY  OF  COMMERCE,  CA  --  February  4,  2004  - 99 Cents Only Stores (R)
(NYSE:NDN)  will  delay  reporting  its  fourth  quarter  2003  results  and has
cancelled  its  earnings  conference  call (previously scheduled for February 4,
2004), due to certain matters raised in a comment letter from the SEC's Division
of  Corporation  Finance  regarding  the  accounting  related  to  the  reported
disposition  of  Universal  International  in  the  year  2000,  and  pending
finalization  of an increase to its California workers' compensation reserve for
year-end  2003.
     Matters  raised  in  the comment letter could impact the Company's reported
results for year 2000 and subsequent periods. Any such potential impact would be
of a non-cash nature and would not affect the net worth of the Company.
     The  amount  of  the  California  workers' compensation reserve increase is
pending  a  determination  of  the  actuarial  calculations  of  liability  and
accounting  methodology.  The  earnings  impact  from  the workers' compensation
reserve  increase  is  estimated  to  be $0.04 to $0.07 per share for the fourth
quarter.
     Absent  the above items (including the estimated increase to the California
workers'  compensation  reserve  of  $0.04  to  $0.07  per  share),  the Company
estimates fourth quarter earnings would have been $0.27 per share.
     Retail  sales  for  the  fourth  quarter were $236.0 million, up 18.9% over
2002.  Total fourth quarter sales, including wholesale sales, increased 17.4% to
$247.5  million.  Retail  sales  and  total  sales for the 2003 year were $816.3
million and $862.5 million, up 23.0% and 20.8%, respectively.
     Fourth  quarter  2003  gross  margin  was 40.7%, compared to 40.8% in 2002.
Retail gross margin for the fourth quarter was 41.7%, versus 42.1% in 2002. This
change  results  from  category  mix shifts with continued focus on food. Retail
gross  margin  for  the  year  was 41.3% compared to 41.7% in 2002. Total annual
gross  margin  was 40.1%, same as 2002. The food category continues to grow at a
higher  rate  than  overall  sales  growth.
     During  2004,  the  Company  plans  to add 48 new 99 Cents Only Stores with
approximately  24  in Texas, 17 in California, 6 in Arizona and 1 in Nevada. The
Company expects about 50% of its 2004 Texas stores will be in the Dallas market.
On  January  29, 2004 the Company opened its first store in the Dallas area. The
initial  sales  from the first Dallas store opening were consistent with typical
California  openings.
     The Company plans to grow 2004 EPS by at least 20% and square footage by at
least  25%.  The Company opened three stores in January 2004 and expects to open
10 stores in the first quarter and 13 to 15 stores in the second quarter.
     During  2003,  the  Company opened 38 stores. For 99 Cents Only Stores open
all  of  2003,  the  average net sales per saleable square foot was $308 and the
average annual net sales per store was a record $4.9 million.
     99  Cents  Only  Stores,  the  nation's oldest existing one-price retailer,
operates  191  retail  stores  in  California,  Texas,  Arizona and Nevada and a
wholesale  division  called  Bargain  Wholesale. 99 Cents Only Stores emphasizes
name-brand  consumables,  priced  at  an  excellent  value,  in  attractively
merchandised  stores.  The  Company's  two  newest  stores will open on Thursday
February  5,  2004  in  the  Northern  California  communities  of  Salinas  and
Vacaville.
     This  press  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 which could cause actual results to differ materially from these
forward-looking  statements  include,  changes  in the competitive market place,
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  this news release and 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.