Eligibility: All regular full-time employees on June 1 or December 1 on or after first day of employment; regular part-time employees on June 1 December 1 on or after one year of service.

The Plan has two six-month offering periods each year, beginning on June 1 and December 1. Participant contributions made during the six-month offering period purchase stock at a 15% discount off the closing price of Lowe’s stock on the last day of the offering period.

All shares purchased through the Plan will be deposited into a personal E*TRADE account.

After completing the required account activation process, participants may access their account and will be able to sell shares acquired in the Plan by calling E*TRADE or online at E*TRADE.com.

Note: If you are a participant in Lowe’s Stock Option Plan, your options are also placed in your E*TRADE account.

Lowe's 401(k) Plan
Lowe's 401(k) Plan is another benefit designed to help you plan and invest for your future. Participation in this Plan allows you to save from 1% to 50% of your compensation not to exceed $15,500* in calendar year 2007 on a pretax basis through the convenience of payroll deductions.

* This amount will be adjusted by the IRS from time to time.

Eligibility: All employees after 180 days of continuous service.
Company Match Eligibility: All employees after 180 days of continuous service.

Since Lowe’s feels that participation in the 401(k) Plan is important, after 180 days of service the company matches the first 3% you save each pay period at 100%. Savings above 3% up to 5% of compensation will be matched at 50%. Savings above 5% and up to 6% will be matched at 25%. To summarize, if you contribute 6%, the Company Match will be 4.25%.

You may choose among 12 professionally managed funds, and the Lowe’s Stock Fund for investment of your savings. Choices include three lifestyle funds, a fixed income fund, three U.S. large capitalization equity funds, two U.S. mid capitalization equity funds, two small capitalization equity funds, and an international equity fund. Your Company Match is invested in the same way you invest your savings. Prospectuses of the funds are available.

You are immediately 100% vested in your savings; Lowe’s matching contributions, and all earnings on your account. Your entire account balance is payable to you in full after termination of employment.

Rollovers into the Plan are accepted at any time after your first day of employment with Lowe’s. You may roll over funds distributed from a former employer’s qualified retirement plan. This must be a direct (trust to trust) transfer of cash from the prior plan (no stocks or other securities). You may also roll over a regular pretax Individual Retirement Account (IRA). After-tax and ROTH IRAs are not eligible for rollover into the Lowe’s 401(k) Plan.

After receiving a personal identification number (PIN), participants in the 401(k) Plan may access their accounts by calling the 401(k) Action Line, or online at mykplan.com.

Full details of these plans are available, upon employment. If there are any discrepancy between the information detailed above and the plan documents, the plan documents prevail.