Ross Stores (ROST)

New $600 Million Stock Repurchase Program and 27% Increase in Quarterly Dividend

     Mr. Balmuth continued, “I also am pleased to report that, based on our current cash position, strong balance sheet and forecasted free cash flows, our Board of Directors has approved a new two-year $600 million stock repurchase program. At the current stock price, this new authorization represents over 15% of the Company’s total market value and a 50% increase over our most recent program, reflecting our confidence in the long-term prospects for our business.”

     During fiscal 2007, the Company repurchased 6.9 million shares of common stock for an aggregate purchase price of $200 million, completing its prior two-year $400 million stock repurchase program for 2006 and 2007. For the ten years ending in fiscal 2007, the Company has returned approximately $1.6 billion in capital to stockholders through its stock repurchase programs.

     The Board has also approved a 27% increase in the quarterly cash dividend to $.095 per share. The new quarterly dividend is payable on or about March 31, 2008 to stockholders of record as of February 22, 2008. Today’s dividend announcement represents the fourteenth consecutive annual increase since the Company initiated its dividend in 1994.