99-Cent Only Store (NDN) Prices 11% Senior Note Offering at $250M

99-Cent Only Stores® (NYSE: NDN) today announced that Number Merger Sub, Inc. ("Merger Sub"), a subsidiary of Parent controlled by the Sponsors, priced its previously announced private placement of $250 million aggregate principal amount of 11% senior notes due 2019 (the "Notes") at an issue price of par. The Notes are being issued in connection with the previously announced acquisition (the "Acquisition") of the Company by the Sponsors through the merger of Merger Sub with and into the Company. Upon consummation of the Acquisition, the Company will assume all of the obligations of Merger Sub and certain subsidiaries of the Company will guarantee such obligations under the Notes.

Subject to customary closing conditions, the offering is expected to close on December 29, 2011. On the closing date, the proceeds of the offering will be deposited into an escrow account. Upon release from escrow, the Company and the Sponsors expect that the net proceeds of the offering will be used to partially fund the Acquisition. The release of the proceeds from escrow is contingent, among other things, on the completion of the Acquisition.

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