EXHIBIT 99.1

    99 CENTS ONLY STORES ANNOUNCES STOCK REPURCHASE PROGRAM OF UP TO 3,000,000
                                     SHARES

     City  of  Commerce,  California  -  May  14, 2004 - 99 Cents Only Stores(R)
(NYSE:NDN)  today announced its board of directors has authorized the repurchase
of  up  to  3  million  shares of the Company's common stock.  The shares may be
purchased  from time to time in open market transactions or privately negotiated
transactions  over a period ending on May 31, 2005. The timing and amount of any
shares repurchased will be determined by the Company, based on its evaluation of
market  conditions  and other factors. The Company plans to use existing cash to
fund  the  repurchases.  99 Cents Only Stores currently has 72,086,787 shares of
common  stock  outstanding.
     99  Cents  Only Stores(R), the nation's oldest existing one-price retailer,
operates 201 retail stores, in California, Nevada, Arizona and Texas including a
wholesale  division called Bargain Wholesale. 99 Cents Only Stores(R) emphasizes
name-brand  consumables,  priced  at  an  excellent  value,  in  attractively
merchandised  stores.

          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 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.

Note to Editors:  99 Cents Only Stores(R) news releases and information
available on the World Wide Web at htpp://www.businesswire.com/cnn/ndn.htm.
CONTACT: 99 Cents Only Stores(R), City of Commerce, California, Andy Farina,
CFO, 323/881-9933-99 Cents.