NAPERVILLE, Ill., May 6 /PRNewswire/ -- Factory Card Outlet Corp.
(Nasdaq: FCPYQ) announced today that it has received notification that
Nasdaq's staff has determined to delist the Company's common stock from the
Nasdaq national market.  Nasdaq said the determination was based on the
potential impact of the Company's pending chapter 11 case on Factory Card
Outlet's stockholders.  The Company intends to request a delisting hearing
before NASDAQ's Listing Qualifications Panel.  The Company's stock will
continue to be listed on the Nasdaq national market, although trading
continues to be halted, until the hearing process is completed.
    Factory Card Outlet is a chain of company owned stores offering a vast
assortment of party supplies, greeting cards, gift wrap and other special
occasion merchandise at everyday value prices.
    Certain statements in this news release constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995.  Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company, or industry results, to be
materially different from any future results, performance, or achievements
expressed or implied by such forward-looking statements.  On March 23, 1999,
the Company filed a petition for reorganization under chapter 11 of title 11
of the United States Code and is operating as a debtor in possession.  All
forward-looking statements relating to aspects of any plan of reorganization
submitted in connection with the Chapter 11 cases are dependent upon, among
other things, further improvements in the Company's store-level operating
performance, the proposal of an acceptable reorganization plan and the
confirmation of such plan by the bankruptcy court.  In general, the results,
performance or achievements of the Company and its stores and the value of the
Company's common stock are dependent upon a number of factors including
without limitation, the following:  effects resulting from the commencement
and completion of Chapter 11 cases; ability to meet sales plans; weather and
economic conditions; dependence on key personnel, competition; ability to
anticipate merchandise trends and consumer demand; ability to maintain
relationships with suppliers; successful implementation of information
systems; successful handling of merchandise logistics; inventory shrinkage;
ability to meet future capital needs; governmental regulations; ability to
complete corrective action necessary to address Year 2000 issues; the results
of the delisting hearing before NASDAQ's Listing Qualification Panel regarding
the continued listing of the Company's common stock on the NASDAQ National
Market; and other factors both referenced and not referenced in the Company's
filings with the Securities and Exchange Commission.

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