LOWE'S ANNOUNCES EXPANSION INTO MEXICO (01/05/07)

Company Plans to Open Three to Five Stores in Monterrey in 2009

MOORESVILLE, N.C. – As part of its strategy for long-term growth, Lowe’s (NYSE: LOW) announced today it plans to expand into Mexico. Lowe’s expects to open three to five stores in Monterrey in 2009, representing an investment of $18 to $20 million per store.

“For several years, we have been evaluating opportunities to serve consumers in vibrant home improvement markets outside the United States,” explained Robert A. Niblock, Lowe’s chairman and CEO. “With homeownership rates in the market growing at a rapid pace, we see Monterrey as a tremendous opportunity to offer Lowe’s products and services to homeowners and commercial customers in a superior shopping environment with customer service that is recognized as among the best in retail.” More