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Lowe's Provides February Sales Results

Reiterates Sales and Earnings Guidance for Fiscal First Quarter

MOORESVILLE, N.C., March 19 /PRNewswire-FirstCall/ -- Lowe's Companies, Inc. (NYSE: LOW) today provided a sales update as a result of an inadvertent disclosure of financial information by GE Capital, who manages Lowe's proprietary credit card programs. While the sales number released was based on a different fiscal calendar, and therefore did not accurately reflect actual total February results, the company deemed it prudent to provide an update.

(Logo: http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO)

Sales for the fiscal month of February (January 31, 2009 to February 27, 2009) were in line with the company's guidance for the quarter. Based on results through March 18, 2009, the company is comfortable reiterating previously provided sales and earnings guidance for its fiscal first quarter. For additional details regarding the company's guidance, please refer to Lowe's fiscal fourth quarter release dated February 20, 2009.

Disclosure Regarding Forward-Looking Statements

This news release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Statements of the company's expectations for sales growth, comparable store sales, earnings and performance, capital expenditures, store openings, the housing market, the home improvement industry, demand for services, and any statement of an assumption underlying any of the foregoing, constitute "forward-looking statements" under the Act. Although the company believes that the expectations, opinions, projections, and comments reflected in its 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 rising unemployment, interest rate and currency fluctuations, higher fuel and other energy costs, slower growth in personal income, changes in consumer spending, the availability of consumer credit and mortgage financing, changes in the rate of housing turnover, inflation or deflation of commodity prices and other factors which can negatively affect our customers, as well as our ability to: (i) respond to adverse trends in the housing industry and the level of repairs, remodeling, and additions to existing homes, as well as general reduction in commercial building activity; (ii) secure, develop, and otherwise implement new technologies and processes designed to enhance our efficiency and competitiveness; (iii) attract, train, and retain highly-qualified associates; (iv) locate, secure, and successfully develop new sites for store development particularly in major metropolitan markets; (v) respond to fluctuations in the prices and availability of services, supplies, and products; (vi) respond to the growth and impact of competition; (vii) address legal and regulatory developments; and (viii) respond to unanticipated weather conditions that could adversely affect sales. For more information about these and other risks and uncertainties that we are exposed to, you should read the "Risk Factors" included in our Annual Report on Form 10-K to the United States Securities and Exchange Commission and the description of material changes, if any, in those "Risk Factors" included in our Quarterly Reports on Form 10-Q.

The forward-looking statements contained in this news release speak only as of the date of this release and the company does not assume any obligation to update any such statements.

With fiscal year 2008 sales of $48.2 billion, Lowe's Companies, Inc. is a FORTUNE(R) 50 company that serves approximately 14 million customers a week at more than 1,650 home improvement stores in the United States and Canada. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.

SOURCE  Lowe's Companies, Inc.
    -0-                           03/19/2009
    /CONTACT:  Shareholders' and Analysts' Inquiries: Paul Taaffe,
+1-704-758-2033, or Media Inquiries: Chris Ahearn, +1-704-758-2304, both of
Lowe's Companies, Inc./
    /Photo:  http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO
             AP Archive:  http://photoarchive.ap.org
             PRN Photo Desk, photodesk@prnewswire.com/
    /Web Site:  http://www.Lowes.com /
    (LOW LOW)

CO:  Lowe's Companies, Inc.; GE Capital
ST:  North Carolina
IN:  REA CST RLT
SU:  SLS ERP

PR
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2291 03/19/2009 14:55 EDT http://www.prnewswire.com