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News Release

Lowe's Companies, Inc. Prices $1.0 Billion Notes Offering

MOORESVILLE, N.C., Apr 12, 2010 (BUSINESS WIRE) --Lowe's Companies, Inc. (NYSE: LOW) announced today that it has agreed to sell $500 million of 4.625% Notes due 2020 and $500 million of 5.80% Notes due 2040. The company estimates that the net proceeds from this offering will be approximately $990.7 million, after deducting estimated offering expenses and the underwriters' discounts. Lowe's plans to use $500 million of the net proceeds from the sale of the notes to repay its 8.25% Notes due June 1, 2010 at maturity, and to use the balance for general corporate purposes, including capital expenditures and working capital needs, and to fund repurchases of shares of its common stock. Closing is expected to occur on April 15, 2010.

Banc of America Securities LLC, J.P. Morgan Securities Inc., and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers for the notes offering. This offering was made under an effective registration statement on file with the Securities and Exchange Commission. This press release is not an offer to sell nor is it a solicitation of an offer to buy any securities. Any offers to sell, or solicitations to buy, will be made solely by means of a prospectus and related prospectus supplement filed with the Securities and Exchange Commission. A copy of the prospectus and related prospectus supplement for this offering may be obtained from your salesperson at Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, 3rd Floor, New York, New York 10001; J.P. Morgan Securities Inc., 383 Madison Avenue, High Grade Syndicate Desk - 3rd Floor, New York, New York 10179; or SunTrust Robinson Humphrey, Inc., Prospectus Department, 3333 Peachtree Street, Atlanta, Georgia 30326.

About Lowe's

With fiscal year 2009 sales of $47.2 billion, Lowe's Companies, Inc. is a FORTUNE(R) 50 company that serves approximately 15 million customers a week at more than 1,700 home improvement stores in the United States, Canada and Mexico. 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

Included herein are forward-looking statements, including statements with respect to an anticipated financing. There are many factors that affect management's views about future events and trends of the business and operations of the Company, including changes to the economy and the market for the offering, all as more thoroughly described in the prospectus and related prospectus supplement and the Company's filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update forward-looking information made in this release or any of its public filings.

SOURCE: Lowe's Companies, Inc.

Lowe's Companies, Inc.
Shareholders'/Analysts' Inquiries:
Robbin Moore-Randolph, 704-758-3579
Media Inquiries:
Chris Ahearn, 704-758-2304