(Logo: http://www.pricesmart.

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com

This press release may contain forward-looking statements concerning the
Company's anticipated future revenues and earnings, adequacy of future cash
flow and related matters. Certain prior period amounts may have
been reclassified to conform to the current period presentation.

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Growth in the Internet market is hampered by widespread poverty, a
linguistically and ethnically divided population , a small private sector, and
inadequate education.

PRESS RELEASE PriceSmart Sells $19.7 Million of Common Stock During $8 Rights Offering Exercise Period

Upon the completion of
the rights offering , the Company had 28,354,499 outstanding shares of
common stock. These statements are subject to
risks and uncertainties that could cause actual results to differ
materially, including the following risks: the Company had a substantial
net losses in fiscal 2003, 2004 and 2005, and may continue to incur losses
in future periods; if the Company fails to comply with covenants governing
its indebtedness , the lenders may elect to accelerate the Company's
indebtedness and foreclose on the collateral pledged to secure the
indebtedness; the Company's financial performance is dependent on
international operations which exposes the Company to various risks; any
failure by the Company to manage its widely dispersed operations could
adversely affect the Company's business; although the Company has taken and
continues to take steps to improve its internal controls, there may be
material weaknesses or significant deficiencies that the Company has not
yet identified; the Company faces significant competition; the Company
faces difficulties in the shipment of, and inherent risks in the
importation of, merchandise to its warehouse clubs; the Company is exposed
to weather and other risks associated with international operations;
declines in the economies of the countries in which the Company operates
its warehouse clubs would harm its business; a few of the Company's
stockholders have control over the Company's voting stock, which will make
it difficult to complete some corporate transactions without their support
and may prevent a change in control; the loss of key personnel could harm
the Company's business; the Company is subject to volatility in foreign
currency exchange; the Company faces the risk of exposure to product
liability claims, a product recall and adverse publicity; a determination
that the Company's long-lived or intangible assets have been impaired could
adversely affect the Company's future results of operations and financial
position; and the Company faces increased costs and compliance risks
associated with compliance with Section 404 of the Sarbanes-Oxley Act of
2002; as well as the other risks detailed in the Company's SEC reports,
including the Company 's Form 10-Q filed pursuant to the Securities Exchange
Act of 1934 on January 17, 2006.

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International
Telecommunications (Intelco) became BTL's first competitor in October 2003,
but was bankrupt by November 2004. With a high percentage of the population living in rural areas, the
country's fixed -line teledensity is at the low end of the scale for Latin
America. In January 2004, the government sold its remaining 49% interest in
Enitel to America Movil, thus completing the privatisation of the telecom
sector.

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Costa Rica: Served by a relatively modern and sophisticated
telecommunications infrastructure, Costa Rica has the second highest Internet
penetration rate in Latin America after Chile. However, the country experienced a couple of
serious set backs due to natural disasters: Hurricane Mitch in 1998 and the
devastating earthquakes of 2001. Mobile phones overtook fixed lines in
2001 , and are now more than double the number of fixed lines in service.

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Key Statistics
Market Overview
Regulatory Environment
Fixed Network Operators
Telecom Infrastructure
Data Market
Internet
Broadband
E-services
Mobile Market Overview
Mobile Operators
Broadcasting

Belize: The second smallest and most sparsely populated country in Central
America, Belize was among the first Latin American countries to privatise its
national telecom company in 1988, but gave the incumbent, Belize
Telecommunications Ltd (BTL ), a 15-year monopoly concession until end-2002 for
all fixed-line and mobile phone services. Yet , despite theoretical
liberalisation, BTL still holds a de facto monopoly.8 million pursuant to exercise of subscription rights during the $7
exercise period which ended on January 24, 2005.
PriceSmart now operates 23 warehouse clubs in 11 countries and one U.

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Each country has its own chapter and
covers the following subjects. Dial-up access is offered
free of charge by several providers, and public Internet access centres have
opened in various cities and large towns.

Honduras: The country has 4th lowest fixed-line penetration in Latin
America, after Haiti, Nicaragua and Paraguay.

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We assume no obligation and expressly
disclaim any duty to update any forward-looking statement to reflect events
or circumstances after the date of this presentation or to reflect the
occurrence of unanticipated events.

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DUBLIN, Ireland, Research and Markets
(http://www. Since the sector was privatised and opened to competition in
1998, foreign operators and local companies have invested millions in
infrastructure improvements.com/reports/c17927

Laura Wood
Senior Manager
Research and Markets
press@researchandmarkets. These forward-looking statements include, but are
not limited to , statements containing the words "expect," "believe,"
"will," "may," "should," "project," "estimate ," "scheduled," and like
expressions, and the negative thereof.

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7 million pursuant to the exercise of
subscription rights during the $8 exercise period of its previously
announced rights offering .

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Internet usage is mostly
concentrated in San Salvador and a few other cities. In September 2003 , it launched the 'Telephony For
All' program, which allows new operators to provide local telephone services
by becoming partners of Hondutel, the state-owned fixed-line incumbent. While
fixed-line services are yet to be liberalised, value-added services and mobile
telephony are open to competition .researchandmarkets.

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Through the state-owned Instituto
Costarricense de Electricidad (ICE), the government holds a monopoly over the
country's telecom and energy markets.

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However, January 2004 marked a
significant step for Costa Rica with the signing of the Central American Free
Trade Agreement (CAFTA), which calls for a gradual liberalization of the
telecom sector.

Guatemala: While telecom infrastructure in Guatemala is fairly modern in
the main urban centres, rural telephony remains inadequate and antiquated ,
though a lot better that prior to the 1996 liberalisation of the telecom
market. Though also not high by Latin American standards, mobile telephony
has been a fast growing market, helped along by one of the most liberal radio
spectrum regulatory models in the world.

For more information visit
http://www. (NASDAQ: PSMT) today
announced that it sold approximately 2,463,603 shares of its common stock
for aggregate proceeds of $19.-style
membership shopping warehouse clubs in Central America and the Caribbean,
selling high quality merchandise at low prices to PriceSmart members.

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researchandmarkets.com
Fax: +353 1 4100 980

The Company had previously sold
approximately 6,827,542 shares of common stock for aggregate proceeds of
$47.

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El Salvador: The country's telecom market is among the most liberalised in
Central America. In August 2004,
America Movil increased its interest in Enitel to 99. The $8 subscription period began on January 25,
2005 , and ended on January 31, 2006.
territory (four each in Panama and Costa Rica; two each in Dominican
Republic, El Salvador, Guatemala, Honduras, and Trinidad; and one each in
Aruba, Barbados, Jamaica , Nicaragua and the United States Virgin Islands).

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A third company, SpeedNet Communications,
now has the task of breaking BTL's monopoly. In April 2004, the regulator announced that Nicaragua's fixed-line
market would be opened to full competition in December 2004. In October 2004,
BellSouth completed the sale of its Nicaraguan unit TCN BellSouth to
Telefonica Moviles.
PriceSmart, Inc.

www.

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Yet Costa Rica is the least
liberalised telecom market in Latin America.S.

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Mobile telephony received a further boost in June 2004 with the
entry of America Movil into the Honduran market when it acquired 100% of
Megatel.03%, and applied for
authorization to merge Enitel Movil with Sercom Nicaragua.

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newscom. As a result, fixed-line teledensity is still
only just over 11%, while mobile telephony overtook fixed lines in service in
2002, reaching over 23% penetration by early 2005. Millicom's subsidiary Celtel was the only
mobile operator until November 2003, when a second provider, Megatel, launched
GSM services.
Since then, the government has awarded numerous new concessions for fixed-line
telephony.

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com/reports/c17927 ) has announced the addition
of 2005 Latin America Telecoms, Mobile and Broadband in Central America to
their offering. The government pledged to
increase telecom competition prior to the market's full liberalisation
scheduled for December 2005.

Nicaragua: Although Nicaragua has the second lowest fixed-line teledensity
in Latin America, 2004 brought big and promising changes to the telecom
market.
On August 12 , 2005, PriceSmart completed the sale of its interest in its
PriceSmart Philippines subsidiary.

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Included in the above report are four exhibits
and one hundred and thirteen tables. It began to build a CDMA2000 1X
network in September 2004, and plans to offer Internet access, wireless
broadband and various corporate services as well as mobile telephony. However, the
government announced that it would award two new mobile concessions at end-
2005, even though the licence winners will not be able to launch services
until 2008.

About PriceSmart

PriceSmart, headquartered in San Diego, owns and operates U.

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Research and Markets: Unique Insight to Central America's Telecom Market

Panama's telecom infrastructure is modern and reliable, and is
serviced by five global submarine fibre optic cables that cross from ocean to
ocean through the Panama Canal, creating new opportunities for telecom ,
Internet and e-commerce ventures.

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com/cgi-bin/prnh/20040820/RESEARCH )
This report provides information on Belize, Costa Rica, El Salvador,
Guatemala, Honduras, Nicaragua, Panama. As a result , the mobile industry in Nicaragua may soon be
served by only two nationwide operators: Telefonica Moviles and America Movil.

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Panama: The country opened its telecom industry to full competition in
January 2003, ending the monopoly enjoyed by Cable + Wireless Panama (C+WP). BellSouth Panama (acquired by Telefonica in October 2004) and C+WP
have exclusive rights over the mobile market until 2007.