CULS Cost-U-Less (MM)

Cost-U-Less, Inc. (the "Company") (Nasdaq:CULS) today reported a decrease of 0.7% in same store sales (stores open a full 13 months), for the four weeks ended April 30, 2006 (April 2006). For the corresponding period a year ago (April 2005), the Company experienced a same store sales increase of 6.3 %. Same store sales and total sales for April 2006 were negatively impacted by the timing of the Easter Holiday which fell in fiscal March 2005 whereas it fell in April of 2006. All of the Company's stores close for at least one of the days during the Easter Holiday weekend. This is estimated to negatively impact same store sales for April 2006 by approximately 3-4%. Same store sales increases for the following fiscal periods were: -0- *T Fiscal Month Fiscal Year-to-date 4 weeks 17 weeks Ending April 30, 2006 (0.7%) 2.7% Ending April 24, 2005 6.3% 6.9% *T Total sales for April 2006 decreased 0.2% to $16.3 million, compared to $16.4 million for the corresponding period a year ago. Total sales for the seventeen weeks ended April 2, 2006 increased 2.0% to $71.0 million, compared to $69.6 million for the corresponding period a year ago. On May 4, 2006 the Company expects to announce its financial results for the fiscal first quarter ended April 2, 2006. Cost-U-Less currently operates eleven stores in the Caribbean and Pacific region: U.S. Virgin Islands (2), Netherlands Antilles (2), Hawaiian Islands (2), California (1), Guam (2), American Samoa (1), and Republic of Fiji (1). The Company builds its business through delivering high-quality U.S. and local goods, progressive merchandising practices, sophisticated distribution capabilities, and superior customer service, primarily to island markets. Additional information about Cost-U-Less is available at www.costuless.com. This press release contains statements that are forward-looking. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements, including comparable store sales expectations, trends in or expectations regarding the Company's revenue growth, and the Company's growth plans are all based on currently available operating, financial, and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including that the Company may encounter substantial delays, increased expenses or loss of potential store sites due to the complexities, cultural differences, and local political issues associated with the regulatory and permitting processes in the island markets in which the Company may locate its stores. Prolonged adverse occurrences affecting tourism or air travel, particularly to non-U.S. destinations, including political instability, armed hostilities, terrorism, natural disasters or other activity that involves or affects air travel or the tourism industry generally, could cause actual results to differ materially from historical results or those anticipated. Other risks and uncertainties include the Company's small store base; the mix of geographic and product revenues; relationships with third parties; litigation; the Company's ability to maintain existing credit facilities and obtain additional credit; business and economic conditions and growth in various geographic regions; pricing pressures; political and regulatory instability in various geographic regions; and other risks and uncertainties detailed in the Company's filings with the SEC.