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PriceSmart, Inc. Announces Repurchase of Common Stock

23 September 1998

PriceSmart, Inc. Announces Repurchase of 150,000 Shares of Common Stock

    SAN DIEGO, Sept. 23 -- PriceSmart, Inc. today
announced that it has repurchased 150,000 shares of its common stock,
representing the balance of shares necessary to fully fund its 1998 Equity
Participation Plan.  The Company repurchased the shares pursuant to its
previously announced stock repurchase program.  The Company may adopt
additional stock repurchase programs from time to time in the future.
    PriceSmart is a volume-driven merchandise and service provider, delivering
quality, value and low prices to the rapidly emerging consumer class in Latin
America and Asia.  The Company also operates domestic businesses which include
an Auto Referral Program and a Travel Program.  The Auto Referral Program and
Travel Program offer discounts on new cars and travel and vacation related
services.
    This press release contains forward-looking statements that are subject to
risks and uncertainties that might cause actual results to differ from those
foreseen, including the risks detailed in the Company's SEC reports, including
the Company's Registration Statement on Form 10 filed pursuant to the
Securities Exchange Act of 1934, as amended, on July 3, 1997, as amended by
Amendment No. 1 to Form 10 filed on August 1, 1997 and Amendment No. 2 to Form
10 filed on August 13, 1997.
    Contact Gil Partida, President and CEO, at (619) 581-4912, or Karen
Ratcliff, Chief Financial Officer, at (619) 581-4401.