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July 10, 2003 at 4:01 AM EDT

Costco Wholesale Corporation Reports June Sales Results

ISSAQUAH, Wash.--(BUSINESS WIRE)--July 10, 2003--Costco Wholesale Corporation (Nasdaq: COST) today reported net sales of $4.28 billion for the five weeks ended July 6, 2003, an increase of 11 percent from $3.85 billion in the same five-week period of the prior fiscal year.

For the first 44 weeks of its 2003 fiscal year ended July 6, 2003, the Company reported net sales of $34.95 billion, an increase of 9 percent from $32.00 billion during the comparable period of the prior fiscal year.

Comparable sales for the 5-week and 44-week periods ended July 6, 2003, were as follows:

                                     5 Weeks         44 Weeks
                                    ----------      ----------
     US                                 5%              4%
     International                     18%              9%

     Total Company                      7%              5%
                                    ==========      ==========

Additional discussion of these sales results is available on a pre-recorded telephone message. You can access the recording by dialing 1-800-642-1687 (conference ID# 1678808). This recorded message will be available at 3:00 AM (PDT) today through 5:00 PM (PDT) on Friday, July 11, 2003.

Costco currently operates 417 warehouses, including 308 in the United States and Puerto Rico, 61 in Canada, 15 in the United Kingdom, five in Korea, three in Taiwan, four in Japan and 21 in Mexico. The Company also operates Costco Online, an electronic commerce web site, at www.costco.com. The Company plans to open one additional new warehouse prior to the end of its fiscal year 2003 on August 31, 2003, and an additional 12 new warehouses (including the relocation of one warehouse to a larger and better-located facility) prior to the end of calendar year 2003.

Certain statements contained in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects, or anticipates may occur in the future. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions including exchange rates, the effects of competition and regulation, conditions affecting the acquisition, development, ownership or use of real estate, actions of vendors, and other risks identified from time to time in the Company's public statements and reports filed with the SEC.

CONTACT: Costco Wholesale Corporation Richard Galanti, 425/313-8203 Jeff Elliott, 425/313-8264 SOURCE: Costco Wholesale Corporation