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Ross Stores Enters the Carolinas

NEWARK, Calif., July 18 /PRNewswire/ -- Ross Stores, Inc., (Nasdaq: ROST) the nation's second largest off-price apparel retailer, will enter the Carolinas with the grand opening of its new stores in Gastonia, North Carolina and Greenville, South Carolina on Saturday, July 21st. The company's third location in the Atlanta region will also grand open in Snellville, Georgia on the same date.

Stores will open in Franklin Square at the intersection of Franklin Boulevard and Church Street in Gastonia; NC, Cherrydale Point, at the intersection of Highways 25 and 291 in Greenville, SC; and Presidential Market Center, at the intersection of GA Highway 124 and Ronald Reagan Boulevard in Snellville, GA. All three locations feature the company's standard prototype 30,187 square foot store.

In commenting on this news, Jim Peters, President and Chief Operating Officer, stated, "We are excited about the opportunity to offer our new customers in the Carolinas and Georgia great bargains on name brand apparel and home-related merchandise. Ross entered these markets with two Atlanta area stores in Douglasville and Lawrenceville, Georgia in March of this year. With our new summer openings, we will now operate a total of five stores in these three states. We also plan to open another four locations in Georgia, three in North Carolina and one in South Carolina by October, for a total of 13 southeast stores by the end of 2001. We believe there is huge growth potential in these markets, where we are targeting a total of about 50 stores by 2004."

Ross Stores, Inc. reported sales of $2.7 billion in 2000, its most recent fiscal year. The off-price retailer currently operates 423 stores in 20 states, offering first-quality, in season, branded apparel, accessories and footwear for the entire family as well as gift items and linens for the home all at everyday savings of 20% to 60% less than regular department and specialty store prices.

Forward-Looking Statements: This press release contains certain forward-looking statements which are subject to risks and uncertainties that could cause the company's actual results to differ materially from management's current expectations. The words "plan," "expect," "believe," "anticipate," "forecast," "estimate," "projected" and similar expressions identify forward-looking statements. Risk factors include obtaining acceptable new store locations, competitive pressures in the apparel industry, changes in economic conditions, changes in the level of consumer spending on or preferences in apparel or home-related merchandise, the availability of dependable energy resources at reasonable costs, unseasonable weather trends, and greater than planned operating costs. Other risk factors are detailed in the company's Form 10-K for fiscal 2000. The factors underlying our forecasts are dynamic and subject to change. As a result, our forecasts speak only as of the date they are given and do not necessarily reflect the company's outlook at any other point in time. The company does not undertake to update or revise these forward-looking statements.

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SOURCE Ross Stores, Inc.

CONTACT: John G. Call, Senior Vice President & Chief Financial Officer, +1-510-505-4315, or Katie Loughnot, Director, Investor Relations, +1-510-505-4509, or, both of Ross Stores, Inc./