SAN DIEGO, CA–( EMWNews – April 7, 2008) – PriceSmart, Inc. (NASDAQ: PSMT) today

announced that for the month of March 2008, net sales increased 21.3% to

$94.1 million from $77.6 million in March a year earlier. For the seven

months ended March 31, 2008, net sales increased 24.9% to $627.5 million

from $502.4 million in the same period last year. There were 25 warehouse

clubs in operation at the end of March 2008 compared to 23 warehouse clubs

in operation in March 2007.

For the four weeks ended March 30, 2008, comparable warehouse sales for

warehouse clubs open at least 12 full months increased 14.1% compared to

the same four-week period last year. For the thirty-week period ended

March 30, 2008, comparable warehouse sales increased 20.0% compared to the

comparable thirty-week period a year ago.

The Company also announced that it has entered into a new lease for

premises in Medley, Florida, enabling the Company to relocate its primary

Distribution Center to a 40% larger facility, thereby enhancing the

distribution of merchandise from the United States to PriceSmart warehouse

clubs in the Caribbean and Central America. It is anticipated that the

Company’s new Distribution Center will become operational in June 2008.

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 25 warehouse clubs in 11 countries and one U.S.

territory (four each in Panama and Costa Rica; three each in Guatemala and

Trinidad, 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 had substantial net

losses in fiscal 2003, 2004 and 2005, and may not be able to sustain the

profitability it achieved in fiscal 2006 in future periods; 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; although the Company has taken and continues to take steps to

improve significantly its internal controls, there may be material

weaknesses or significant deficiencies that the Company has not yet

identified; the Company faces significant competition; the Company faces

difficulties in the shipment of and inherent risks in the importation of

merchandise to its warehouse clubs; the Company is exposed to weather and

other 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 have

control over the Company’s voting stock, which will make it difficult to

complete some corporate transactions without their support and may prevent

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 costs and 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 Form 10-K filed pursuant to the Securities Exchange

Act of 1934 on November 29, 2007. 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 Chief Executive Officer (858) 551-2336 John M. Heffner Executive Vice President and Chief Financial Officer (858) 404-8826