DR-CAFTA will help retailers continue to provide American
consumers with the products they need at prices they can afford. There is little textile production in the
Dominican Republic or Central America, however, so as a practical matter
manufacturers would still be limited to using mostly U .

(NASDAQ: PSMT) today
announced that it sold approximately 2,463,603 shares of its common stock
for aggregate proceeds of $19.8 million pursuant to exercise of subscription rights during the $7
exercise period which ended on January 24, 2005.
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).

monthly media

oriented belize

S.R.S. yarn, and even
then only certain products are duty-free.com.

About PriceSmart

PriceSmart, headquartered in San Diego, owns and operates U. Certain prior period amounts may have
been reclassified to conform to the current period presentation.

latest oriented

Upon the completion of
the rights offering, the Company had 28,354,499 outstanding shares of
common stock.

centroamericana latest

4 million U.

media inforpress

"The Dominican Republic and Central America are already
important to U. But the unpredictability of sourcing from
China in the current political environment makes it important for retailers to
have reliable alternatives.

nicaragua salvador

manufacturing jobs rely on apparel production in this
region.

panama honduras

1307, sponsored by Senate Finance Committee Chairman Charles
Grassley, R-Iowa, passed the Senate 54-45 on June 30.S. As the industry umbrella group, NRF also
represents more than 100 state, national and international retail
associations.

monthly guatemala

DR-CAFTA includes the Dominican Republic plus the Central American nations
of Costa Rica, El Salvador, Guatemala , Honduras and Nicaragua. DR-CAFTA would expand duty-free
treatment to cover a wider range of products and would allow those products to
be made of fabric produced in the region, along with a small quantity of
fabric from Canada or Mexico. The Company had previously sold
approximately 6,827,542 shares of common stock for aggregate proceeds of
$47.

belize guatemala

retail establishments,
more than 23 million employees -- about one in five American workers -- and
2004 sales of $4.-style
membership shopping warehouse clubs in Central America and the Caribbean,
selling high quality merchandise at low prices to PriceSmart members.

media oriented

WASHINGTON, The National Retail Federation today
welcomed House passage of legislation implementing the Dominican Republic-
Central American Free Trade Agreement. DR-CAFTA will help protect those jobs here at home.
On August 12, 2005, PriceSmart completed the sale of its interest in its
PriceSmart Philippines subsidiary. 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.

centroamericana caribbean

S. "The DR-
CAFTA countries are some of U.S. The $8 subscription period began on January 25,
2005, and ended on January 31, 2006.

investigation guatemala

"
The House voted 217-215 early this morning to pass H.S.

inforpress newspapers

"Implementation of this agreement is going to create important new
incentives that will encourage apparel retailers to expand their sourcing
operations in the region," NRF Vice President and International Trade Counsel
Erik Autor said.
Companion bill S. textiles.

belize caribbean

S. Under current
trade law, apparel from the region can qualify for duty-free shipment to the
United States only if it is made of U.

subscription mexico

S. http://www.

honduras update

NRF
represents an industry with more than 1. 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.

costa mexico

Retailers Welcome Passage of DR-CAFTA

1 trillion .S.

newspapers caribbean

nrf.

oriented costa

"
"It isn't just retailers who rely on the region," Autor said. textile makers' biggest customers, so
thousands of U.pricesmart.

investors caribbean

www.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. 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.

costa investigation

retailers because of the time-to-market advantage they hold
over China and other Asian sources. fabric woven from U.

mexico centroamericana

3045, the DR-CAFTA
Implementation Act , sponsored by House Majority Leader Tom DeLay, R-Texas.

The National Retail Federation is the world's largest retail trade
association, with membership that comprises all retail formats and channels of
distribution including department, specialty, discount, catalog, Internet,
independent stores, chain restaurants, drug stores and grocery stores as well
as the industry's key trading partners of retail goods and services.7 million pursuant to the exercise of
subscription rights during the $8 exercise period of its previously
announced rights offering.
PriceSmart now operates 23 warehouse clubs in 11 countries and one U.

edition toward

DR-CAFTA will ensure the competitiveness of these
countries in the post-quota environment so that they can continue to provide
that alternative.
PriceSmart , Inc.