PriceSmart Announces June Sales

SAN DIEGO, CA, Jul 07 (MARKET WIRE) --
PriceSmart, Inc. (NASDAQ: PSMT) (www.pricesmart.com) today announced that
for the month of June 2009 net sales increased 4.0% to $95.7 million from
$92.0 million in June a year earlier. For the ten months ended June 30,
2009, net sales increased 13.1% to $1,022.0 million from $903.3 million
for the ten months ended June 30, 2008. There were 26 warehouse clubs in
operation at the end of June 2009 compared to 25 warehouse clubs at the
end of June 2008.

For the four weeks ended June 28, 2009, comparable warehouse sales for the
warehouse clubs open at least 12 full months increased 1.4% compared to
the same four-week period last year. For the forty-three week period ended
June 28, 2009, comparable warehouse sales increased 10.6% compared to the
comparable forty-three week period a year ago.

About PriceSmart

PriceSmart, headquartered in San Diego, owns and operates U.S.-style
membership shopping warehouse clubs in Central America and the Caribbean,
selling high quality merchandise at low prices to PriceSmart members.
PriceSmart now operates 26 warehouse clubs in 11 countries and one U.S.
territory (five in Costa Rica; four in Panama; three each in Guatemala and
Trinidad, two each in Dominican Republic, El Salvador and Honduras; and
one each in Aruba, Barbados, Jamaica, Nicaragua and the United States
Virgin Islands).

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. These statements are
subject to risks and uncertainties that could cause actual results to
differ materially, including the following risks: 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; 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 own nearly one-half of the
Company's voting stock, which may make it difficult to complete some
corporate transactions without their support and may impede 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 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 Annual Report on Form 10-K
filed pursuant to the Securities Exchange Act of 1934 on November 12,
2008. 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.

For further information, please contact:
Robert E. Price
Chief Executive Officer
(858) 551-2336

John M. Heffner
Executive Vice President and Chief Financial Officer
(858) 404-8826

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