Michaels Stores, Inc. Opens Second ReCollections Store

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Michaels Stores, Inc. Opens Second ReCollections Store
                 - Will Expand Scrapbooking Concept in 2004 -

    IRVING, Texas, Oct. 9 /PRNewswire-FirstCall/ -- Michaels Stores, Inc.
(NYSE: MIK) announced today that it will open its second ReCollections
scrapbooking store on Friday, October 10, 2003 at 5500 Greenville Avenue in
Dallas, TX in the Old Town Shopping Center.  The store, the second to open in
the Dallas market this year, will provide merchandise and service in a
community learning environment to assist crafters with all their scrapbooking
needs.
    A ribbon cutting ceremony will take place at 10:00 a.m. CDT followed by a
full slate of weekend-long special events, including in-store appearances and
class instruction by Anna Griffin, owner of Anna Griffin Designs, Heidi Swapp,
creative designer for Making Memories and a member of the Creating Keepsakes
Hall of Fame, and Sharon Soneff, creator of the popular Sonnets line of
scrapbooking products.  Additional special events are scheduled for the
remainder of the year.  Details are available at the store.
    The Company also announced its plans to expand its concept in the Dallas,
Phoenix, Atlanta, and metro-Washington, D.C. markets.  Sam Crowley, Senior
Vice President of New Ventures, said, "So far, ReCollections has proven to be
a great concept, and, given our early success, we are planning to open another
10 stores in the coming year."
    ReCollections stores carry a much broader assortment of scrapbooking
products than a typical Michaels store, and the approximate 10,000
scrapbooking and paper crafting SKUs include local interest items like school
and team logos and colors.  They also feature two large classrooms and provide
in-depth, one-on-one customer service, an on-going open "crop" area, hourly
demonstrations of new products and techniques, and a cutting-edge technical
support center for cropping, journaling, and reproductions.  Each employee is
an experienced "scrapper" while many of the instructors are published
professionals.
    Crowley added, "There is a large segment of scrapbookers who want more
rapidly changing assortments, more personalized service, and broader
selections than a traditional craft store provides.  More importantly,
however, scrapbookers seek the fun and social interaction that comes from
participating in their unique craft.  As the world's leading retailer of arts
and crafts merchandise, this venture is a natural fit given our expertise in
memory preservation, and we're looking forward to developing long-term,
successful partnerships within the national scrapbooking community."
    Michaels Stores, Inc. is the world's largest retailer of arts, crafts,
framing, floral, wall decor, and seasonal merchandise for the hobbyist and do-
it-yourself home decorator.  The Company owns and operates 791 Michaels stores
in 48 states and Canada, 10 Village Crafts stores across the U.S., 158 Aaron
Brothers stores, located primarily on the West Coast, two ReCollections stores
in Frisco and Dallas, Texas, and two wholesale operations in Dallas, Texas and
Atlanta, Georgia.
    This press release is also available on the Michaels Stores, Inc. website
(http://www.michaels.com ).
    Certain statements contained herein which are not historical facts are
forward looking statements that involve risks and uncertainties, including,
but not limited to, customer demand and trends in the arts and crafts
industry, related inventory risks due to shifts in customer demand, the effect
of economic conditions, the impact of competitors' locations or pricing, the
availability of acceptable locations for new stores, difficulties with respect
to new information system technologies, supply constraints or difficulties,
the results of financing efforts, the effectiveness of advertising strategies
and other risks detailed in the Company's Securities and Exchange Commission
filings.  The Company intends these forward-looking statements to speak only
as of the time of this release and does not undertake to update or revise them
as more information becomes available.
SOURCE Michaels Stores, Inc.
http://www.michaels.com
Company News On-Call:
http://www.prnewswire.com/comp/115769.html
CONTACT:
Sam Crowley, Senior Vice President - New
Ventures, +1-972-373-3301, or Jeffrey N. Boyer, Executive Vice
President - Chief Financial Officer, +1-972-409-1581, both of
Michaels Stores, Inc.