Family Dollar Announces Board Authorization to Purchase Up to an Additional 5,000,000 Shares of Family Dollar Common Stock

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Family Dollar Announces Board Authorization to Purchase Up to an Additional 5,000,000 Shares of Family Dollar Common Stock

    MATTHEWS, N.C., April 13 /PRNewswire-FirstCall/ -- Family Dollar Stores,
Inc. (NYSE: FDO) announced that the Company's Board of Directors has
authorized the Company to purchase from time to time, as market conditions
warrant, up to an additional 5,000,000 shares of the Company's Common Stock.
The purchases could be in the open market or in private transactions or
otherwise.  The Company believes that the Common Stock is an attractive
investment and that the repurchase program builds value for shareholders.
    This authorization continues the Company's share repurchase program which
began in October 2002.  Under this program, 8,605,400 shares have been
purchased, including 827,100 shares purchased in the current fiscal year
ending August 27, 2005.  With today's authorization by the Board of Directors
to purchase up to an additional 5,000,000 shares of Common Stock, the Company
is now authorized to purchase up to a total of 6,394,600 shares of Common
Stock.
    Family Dollar Stores, Inc. is a discount store chain operating 5,622
stores in 44 states.  The Company currently has 167,188,254 shares of Common
Stock outstanding.

    Certain statements contained in this press release or in other press
releases, public filings, or other written or oral communications made by the
Company or our representatives, which are not historical facts are forward-
looking statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
address the Company's plans, activities or events which the Company expects
will or may occur in the future.  These forward-looking statements may be
identified by the use of the words "plan," "estimate," "expect," "anticipate,"
"probably," "should," "project," "intend," "continue," and similar terms and
expressions.  Various risks, uncertainties and other factors could cause
actual results to differ materially from those expressed in any forward-
looking statements.  Such risks, uncertainties and other factors include, but
are not limited to, competitive factors and pricing pressures, changes in
economic conditions, the impact of acts of war or terrorism, changes in
consumer demand and product mix, unusual weather that may impact sales, the
impact of inflation, merchandise supply and pricing constraints, success of
merchandising and marketing programs, general transportation or distribution
delays or interruptions, dependence on imports, changes in currency exchange
rates, trade restrictions, tariffs, quotas, and freight rates, availability of
real estate, costs and delays associated with building, opening and operating
new distribution facilities and stores, costs, potential problems and
achievement of results associated with the implementation of new programs,
systems and technology, including supply chain systems, store technology,
cooler installations and urban initiative programs, changes in food and energy
prices and their impact on consumer spending and the Company's costs, adverse
impacts associated with legal proceedings and claims, changes in shrinkage,
changes in health care and other insurance costs, changes in the Company's
ability to attract and retain employees, changes in state or federal
legislation or regulations, including the effects of legislation and
regulations on wage levels and entitlement programs.  Consequently, all of the
forward-looking statements made by the Company in this and other documents or
statements are qualified by these and other factors, risks and uncertainties.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release. The Company does
not undertake to publicly update or revise its forward-looking statements even
if experience or future changes make it clear that projected results expressed
or implied in such statements will not be realized.

SOURCE Family Dollar Stores, Inc.

http://www.familydollar.com
Company News On-Call:

http://www.prnewswire.com/comp/300875.html
CONTACT:
George R. Mahoney, Jr., Executive Vice
President of Family Dollar Stores, Inc., +1-704-814-3252