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Lowe's Companies, Inc. Declares Cash Dividend
WILKESBORO, N.C., Sep 30, 2002 /PRNewswire-FirstCall via COMTEX/ -- The Board of Directors for Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of two cents (2 cents) per share, payable November 1, 2002, to shareholders of record as of October 18, 2002.

(Photo: http://www.newscom.com/cgi-bin/prnh/20000720/LOWES)

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

Recently, Lowe's reported net earnings of $467.1 million for the quarter ended August 2, 2002, a 41.9 percent increase over the same period a year ago. Diluted earnings per share increased 40.5 percent to $0.59 from $0.42 in the second quarter of 2001.

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 800 stores in 43 states. For more information, visit lowes.com.

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SOURCE Lowe's Companies, Inc.

CONTACT:          shareholders and analysts, Paul Taaffe, +1-336-658-5239, or
                  media, Chris Ahearn, +1-336-658-7387, both of Lowe's Companies, Inc.
                  /Photo:  NewsCom:  http://www.newscom.com/cgi-bin/prnh/20000720/LOWES
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                  PRN Photo Desk, 888-776-6555 or 212-782-2840

URL:              http://www.lowes.com 
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