PriceSmart Announces April Sales

Opening of a New Trinidad Warehouse Club Also Announced

San Diego, CA (May 7, 2010) – PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of April 2010 net sales increased 6.8% to $103.4 million from $96.8 million in April a year earlier. For the eight months ended April 30, 2010, net sales increased 8.0% to $890.3 million from $824.3 million for the eight months ended April 30, 2009. There were 27 warehouse clubs in operation at the end of April 2010 and 26 warehouse clubs in operation at the end of April 2009.

For the four-week period March 29 through April 25, 2010, which included Easter week, comparable sales for the warehouse clubs open at least 12 full months increased 9.1%, compared to the same four-week period last year. For the thirty-four week period ended April 25, 2010 comparable warehouse sales increased 4.9%, compared to the comparable thirty-four week period a year ago.

PriceSmart also announced that on April 30, 2010, the Company successfully opened its fourth club in Trinidad. This warehouse club, located in San Fernando, brings to 27 the total number of warehouse clubs in operation for the Company.

About PriceSmart

PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Central America and the Caribbean, selling high quality merchandise at low prices to PriceSmart members. PriceSmart now operates 27 warehouse clubs in 11 countries and one U.S. territory (five in Costa Rica; four each in Panama and Trinidad; three in Guatemala, two each in Dominican Republic, El Salvador and Honduras; and one each in Aruba, Barbados, Jamaica, Nicaragua and the United States Virgin Islands).

This press release may contain forward-looking statements concerning the Company's anticipated future revenues and earnings, adequacy of future cash flow and related matters.  These forward-looking statements include, but are not limited to, statements containing the words “expect,” “believe,” “will,” “may,” “should,” “project,” “estimate,” “scheduled,” and like expressions, and the negative thereof.  These statements are subject to risks and uncertainties that could cause actual results to differ materially, including the following risks: the Company’s financial performance is dependent on international operations which exposes the Company to various risks; any failure by the Company to manage its widely dispersed operations could adversely affect the Company’s business; the Company faces significant competition; the Company may encounter difficulties in the shipment of and risks inherent in the importation of merchandise to its warehouse clubs; the Company is exposed to weather and other natural disaster risks associated with international operations; declines in the economies of the countries in which the Company operates its warehouse clubs would harm its business; a few of the Company's stockholders own nearly 40% of the Company's voting stock, which may make it difficult to complete some corporate transactions without their support and may impede a change in control; the loss of key personnel could harm the Company’s business; the Company is subject to volatility in foreign currency exchange; the Company faces the risk of exposure to product liability claims, a product recall and adverse publicity; a determination that the Company's long-lived or intangible assets have been impaired could adversely affect the Company's future results of operations and financial position; and the Company faces increased compliance risks associated with compliance with Section 404 of the Sarbanes-Oxley Act of 2002; as well as the other risks detailed in the Company's SEC reports, including the Company's Annual Report on Form 10-K filed pursuant to the Securities Exchange Act of 1934 on November 9, 2009.  We assume no obligation and expressly disclaim any duty to update any forward-looking statement to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events.

For further information, please contact Robert E. Price, Principal Executive Officer (858) 551-2336; or John M. Heffner, Executive Vice President and Principal Financial Officer (858) 404-8826.