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News Release

Lowe's Companies, Inc. Delcares Cash Dividend
Wilkesboro, N.C., April 9, 2002 – The Board of Directors for Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of two cents (2¢) per share, payable May 3, 2002, to shareholders of record as of April 19, 2002. 

Lowe’s has paid a cash dividend each quarter since going public in 1961. 

Recently, Lowe’s reported net earnings of $1.02 billion for fiscal 2001, a 26 percent increase over the same period a year ago. Diluted earnings per share increased 24 percent to $1.30 from $1.05 in 2000. 

With 2001 sales of $22.1 billion, Lowe's Companies, Inc. is the world’s second largest home improvement retailer. Headquartered in Wilkesboro, N.C., Lowe’s is the 14th largest retailer in the U.S. as well as the 30th largest retailer worldwide. Lowe’s and its 100,000 employees are Improving Home Improvement for over seven million do-it-yourself retail and commercial business customers each week at more than 750 stores in 42 states. For more information, visit lowes.com.