99 Cents Only Stores to Announce Its Year-End 2004 and Fourth Quarter 2004
Earnings on June 30, 2005

Announces Restatement of Financial Statements Related to Lease Accounting and
Depreciation


CITY OF COMMERCE, Calif.--(BUSINESS WIRE)--June 29, 2005--99 Cents Only
Stores(R) (NYSE:NDN - News) will issue a press release announcing its year-end
2004 and unaudited fourth quarter 2004 earnings on Thursday, June 30, 2005, at
6:00 A.M. PDT. A conference call to discuss the earnings release is scheduled
for Thursday, June 30, 2005, at 11:00 A.M. PDT.

As previously announced, following a review undertaken by the Company and
discussions with its current and former independent registered public
accountants, and in response to views expressed by the Chief Accountant of the
Securities and Exchange Commission ("SEC") in a February 7, 2005, letter to the
American Institute of Certified Public Accountants, the Company will be
restating its financial statements for 2002, 2003, and the first three quarters
of 2004 for its accounting for operating lease rent holidays, and its accounting
for leasehold improvements funded by landlord incentives or allowances under
operating leases (tenant improvement allowances). In addition, the Company has
completed the previously reported analysis of useful lives used to depreciate
certain building and leasehold improvements and determined, in consultation with
its current and former independent registered public accountants, that a
restatement of these prior period financial statements is required to reflect
adjustments to these useful lives to periods longer than initially assigned, in
order to properly reflect the economic lives of these assets. The amount of
these adjustments to each prior period will be disclosed in the earnings
release. These adjustments are non-cash and have no impact on the Company's cash
flows, cash position or revenues. All prior periods once restated, as well as
the fourth quarter of 2004, were profitable. The Company remains profitable and
debt free with a strong cash position.

If you would like to participate in the Company's earnings conference call,
please phone the Link conference call operator at 1-206-315-1857 (U.S. and
Canada) about nine minutes before the call is scheduled to begin and hold for an
operator to assist you. Please inform the operator that you are calling in for
99 Cents Only Stores' 2004 Fourth Quarter Earnings Release conference call, and
be prepared to provide the operator with your name, company name, and position
if requested.

A recorded version of the call will be made available approximately four hours
after completion of the call and will remain available for seven days after the
conference call. To access the recorded version, dial 1-913-383-5767, PASSCODE:
4071.

A copy of the Company's press release announcing its earnings and any other
financial and statistical information about the period to be presented in the
conference call will be available at the section of the Company's website
entitled "Investor Relations" at www.99only.com.

99 Cents Only Stores, the nation's oldest existing one-price retailer, operates
224 retail stores in California, Texas, Arizona and Nevada and a wholesale
division called Bargain Wholesale. The



Company's newest store will open Thursday, June 30, in Pomona, California. 99
Cents Only Stores emphasizes name-brand consumables priced at excellent values
in attractively merchandised stores, where nothing is ever over 99 cents. The
Company's New York Stock Exchange symbol is NDN.

We have included statements that may constitute forward-looking statements
within the meaning of Section 21E of the Securities Exchange Act and Section 27A
of the Securities Act. The words "except," "estimate," "anticipate," "predict,"
"believe," and similar expressions and variations thereof are intended to
identify forward-looking statements. Readers are cautioned not to put undue
reliance on such forward-looking statements as such statements are not
guarantees of future performance and involve risks and uncertainties, and actual
results may differ materially from those projected in this release for the
reasons, among others, discussed in the reports and other documents the Company
files from time to time with the Securities and Exchange Commission, including
the risk factors contained in the Section "Management's Discussion and Analysis
of Financial Condition and Results of Operations" of the Company's Annual
Reports on Form 10-K and Quarterly Reports on Form 10-Q. The Company undertakes
no obligation to publicly revise these forward looking statements to reflect
events or circumstances that arise after the date hereof.

Note to Editors: 99 Cents Stores(R) news releases available at www.99only.com.


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Contact:
     99 Cents Only Stores(R), City of Commerce, Calif.
     Jeff Kniffin, 323-881-1239