The Board of Directors of Wal-Mart Stores, Inc., approved an 18 percent increase in the dividend to 28 cents ($0.28) per share annually. The dividend is payable quarterly at the rate of 7 cents ($0.07) with the first payable date on April 9, 2001 to shareholders of record on March 23, 2001. Based upon this announced increase, the Company plans to return more than 1.2 billion dollars to its shareholders this year. Wal-Mart has increased its dividend every year since its first declared dividend in March, 1974.

Additionally, the Company announced April 6, 2001, as the record date for the annual shareholders meeting which will occur on June 1, 2001.

As of March 1, 2001, the Company had 1724 Wal-Mart stores, 910 Supercenters, 475 SAMÕS CLUBS and 19 Neighborhood Markets in the United States. Internationally, the Company operated units in Argentina (11), Brazil (20), Canada (174), China (11), Germany (95), Korea (6), Mexico (501), Puerto Rico (16) and United Kingdom (241). Wal-Mart employs more than 962,000 associates in the U.S. and 282,000 internationally. Its securities are listed on the New York and Pacific stock exchanges.