Lowe's Home Improvement Announces Expansion Into Canada

Toronto to be Site of Company's First Stores Outside the United States



Lowe's Companies, Inc. (NYSE: LOW - News) announced today the company plans to build on its aggressive expansion plan by extending the reach of its stores into Canada. Lowe's expects to open its first Canadian stores in Toronto in 2007.

"Building on Lowe's home improvement expertise and passion for outstanding customer service, extending our business into Canada is not only a logical expansion of our growth strategy, it's a tremendous opportunity to serve a vibrant, growing home improvement market," explained Robert A. Niblock, Lowe's chairman, president and CEO. "Canada is a unique market, and we believe the Lowe's shopping experience will be attractive for Canadian homeowners and commercial customers.

"We look forward to serving these new customers with innovative, quality products at competitive prices, in a superior shopping environment and the outstanding customer service Lowe's customers have come to expect from us for the past 59 years."

Initially, Lowe's plans to open six to 10 Home Improvement stores in the Toronto market in 2007, creating approximately 1,700 new Canadian jobs. Long-term plans include the potential for as many as 100 Lowe's stores in Canada as the company continues to evaluate additional opportunities for future expansion.

Lowe's will establish an office in the Toronto area later this year, which will be led by Doug Robinson, newly named president of the Canada operation. Over the next several months, Robinson will build a team to manage the company's entry into Canada and ongoing operations to best serve the unique needs of Canadian customers.

Robinson, 45, joined Lowe's in 2003 with more than 20 years experience in the home improvement industry. Most recently, Robinson served as vice president of special projects. Prior to joining the company, he was president and CEO of ARXX Building Products in Ontario, and previously served as president and CEO of Beaver Lumber Company headquartered in Toronto. Robinson will report to Greg Bridgeford, Lowe's executive vice president of business development during the market entry planning phase. When stores become operational, he will report to Niblock.

Statements made in this release may include "forward-looking statements," as such are provided for by the Private Securities Litigation Reform Act of 1995 (the "Act"). All statements other than those reciting historic fact are statements that could be "forward-looking statements" under the Act. Such forward-looking statements may be found in, among other places, the discussions, presentations, or comments from management regarding the company's future operations and performance; proposed new locations, products, services, or developments; conditions or performance of the domestic economy; and any statement of an assumption underlying any of the foregoing. Statements containing words such as "expects," "plans," "strategy," "projects," "believes," "opportunity," "anticipates," "desires," and similar expressions are intended to highlight or indicate "forward-looking statements." Although the company believes that the expectations, opinions, projections, and comments reflected in our forward-looking statements are reasonable, it can give no assurance that such statements will prove to be correct. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results expressed or implied by our forward-looking statements including, but not limited to, changes in general economic conditions such as interest rate and currency fluctuations, rising gas prices, and other factors which can negatively affect customers, as well as the company's ability to: (i) respond to a decreases in the number of new housing starts and the level of repairs, remodeling, and additions to existing homes, as well as g contained in the news release, or materials referenced herein, are based upon data now available and speak only as of the date of this release. We expressly disclaim any obligation to update or revise such statements, whether as a result of new information, change in circumstances, future events, or otherwise.

With fiscal year 2004 sales of $36.5 billion, Lowe's Companies, Inc. is a FORTUNE® 50 company that serves approximately 11 million customers a week at more than 1,100 home improvement stores in 48 states. Based in Mooresville, N.C., the 59-year old company is the second-largest home improvement retailer in the world. For more information, visit http://www.Lowes.com .




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Source: Lowe's Companies, Inc.

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