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Family Dollar Issues Statement Regarding Icahn Schedule 13D Filing

Family Dollar Stores, Inc. (NYSE: FDO) today noted that Icahn Capital LP has filed a Schedule 13D with the Securities and Exchange Commission reporting that it has acquired beneficial ownership of approximately 9.4% of Family Dollar’s common stock. The Company issued the following statement:

The Family Dollar Board of Directors and management team are open to dialogue with all shareholders and welcome input toward the shared goal of enhancing value. As previously announced, we are taking steps to strengthen our value proposition, increase operational efficiencies and improve financial performance. We are committed to driving value for all Family Dollar shareholders and will continue to take actions to achieve this important objective.

Cautionary Statements

Certain statements contained in this press release are “forward-looking statements” that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements address certain plans, activities or events which the Company expects will or may occur in the future and relate to, among other things, the state of the economy, the Company’s investment and financing plans, net sales, comparable store sales, store openings and closings, gross profit, income tax rates, capital expenditures, cost of sales, SG&A expenses, earnings per diluted share, dividends and share repurchases. Various risks, uncertainties and other factors could cause actual results to differ materially from those expressed in any forward-looking statement. Consequently, all of the forward-looking statements made by the Company in this and in other documents or statements are qualified by factors, risks and uncertainties, including, but not limited to, those set forth under the headings titled “Cautionary Statement Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission up to the date of this release.

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