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.

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The meetings covered a number of topics, including CAFTA. We fully support the President and we pledge our commitment to help
gain approval for CAFTA.
PriceSmart now operates 23 warehouse clubs in 11 countries and one U.
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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The proclamation of support came
after meetings between Western Growers President Tom Nassif and top
presidential economic and domestic advisors in the White House on Wednesday.

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, Western Growers today announced
its official support for the Central American and Dominican Republic Free
Trade Agreement (CAFTA) which will reduce trade barriers and increase market
access for U.

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The $8 subscription period began on January 25,
2005, and ended on January 31, 2006.

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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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Western Growers Declares Support for CAFTA

Official Backing for Central American Free Trade Agreement and
President Bush's Position Announced Following Economic and Domestic Policy
Meetings at the White House

IRVINE , Calif. 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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fresh produce products."
The Western Growers announcement comes as President Bush urges Congress to
pass CAFTA and the House of Representatives moves to consider the agreement.8 million pursuant to exercise of subscription rights during the $7
exercise period which ended on January 24, 2005.

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

Includes sites that reflect the make up of the Central American community: its people, its history, and resources and institutions that serve the people of the region

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S. market."

Western Growers is an agriculture trade association whose members grow,
pack and ship ninety percent of the fresh fruits, nuts and vegetables grown in
California and seventy five percent of those commodities in Arizona.

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Currently, ninety
nine percent of Central American and Dominican Republic agricultural exports
enter the United States duty free, providing these trading partners with open
access to the U. The Company had previously sold
approximately 6,827,542 shares of common stock for aggregate proceeds of
$47.

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The House is expected to vote on the
measure next week.pricesmart.

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"President Bush is demonstrating firm leadership in his efforts to seek
approval for CAFTA," commented Nassif.

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

(NASDAQ: PSMT) today
announced that it sold approximately 2,463,603 shares of its common stock
for aggregate proceeds of $19.

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It will be a welcomed step
in opening new markets for this nation's fresh produce industry .
The trade agreement would cut or eliminate tariffs on a variety of
products, including fruits , vegetables and nuts. "The fresh produce industry welcomes
the President's decisive efforts to help our growers and our nation's economy.

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"The Central American Free Trade Agreement will certainly be a significant
improvement over the status quo for the fresh produce industry and our
members ," said Nassif, "One of the most important aspects of CAFTA is that it
sets an example for our global trading partners.

About PriceSmart

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

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This
totals about half of the nation's fresh produce.
PriceSmart , Inc. Upon the completion of
the rights offering, the Company had 28,354,499 outstanding shares of
common stock.S.

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It demonstrates that the
United States is committed to reducing trade barriers in order to create an
environment that facilitates free and fair trade.
The Senate approved CAFTA last month.S.
fresh commodities in these markets.

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Certain prior period amounts may have
been reclassified to conform to the current period presentation.

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The treaty would include the
United States and six Latin American countries: Costa Rica, El Salvador,
Honduras, Guatemala, Nicaragua, and the Dominican Republic. CAFTA would help level the playing field for U. Western Growers
has always been and will continue to be a strong advocate of any initiative
that opens markets and enhances our members' ability to increase their
exports. 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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The passage of CAFTA would represent another positive step towards our
ultimate objective of eliminating trade barriers worldwide.

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S.-style
membership shopping warehouse clubs in Central America and the Caribbean,
selling high quality merchandise at low prices to PriceSmart members.
On August 12, 2005, PriceSmart completed the sale of its interest in its
PriceSmart Philippines subsidiary.