Family Dollar Names Mary A. Winston Chief Financial Officer

Family Dollar Stores, Inc. (NYSE: FDO) today announced that it has named Mary A. Winston to the position of Executive Vice President and Chief Financial Officer. Ms. Winston will report to Howard R. Levine, Chairman and CEO, and will have executive responsibility for Family Dollar’s financial operations, including accounting, treasury, tax, financial planning, investor relations, and internal audit.

“With more than 25 years of financial management and leadership experience, Mary is an excellent addition to our team,” said Howard R. Levine, Chairman and Chief Executive Officer. “Her extensive financial experience, combined with her strong communication and analytical skills, make her a great choice to help us execute against our strategic plan to expand our market share and drive greater financial returns.”

In conjunction with this change, Kenneth T. Smith, former Senior Vice President – Chief Financial Officer, expects to leave the Company, serving in a transition role as Senior Vice President – Finance until October 2012.

“Throughout his 22-year tenure with the Company, Ken has made significant contributions to Family Dollar in a variety of financial and operational areas,” continued Howard Levine. “Under his leadership, Family Dollar has strengthened its financial position and delivered strong returns to shareholders. I sincerely thank him for his service to Family Dollar and appreciate that we will continue to benefit from his expertise during the transition.”

Prior to joining Family Dollar, Ms. Winston served for four years as Senior Vice President and Chief Financial Officer of Giant Eagle, Inc., a $9 billion, privately held grocery chain which operates supermarket and fuel/convenience stores. She also previously served as Executive Vice President and Chief Financial Officer of Scholastic Corporation, a children’s publishing and media company; as Vice President, Treasurer and then Controller of Visteon Corporation, an automotive parts supplier; and as Vice President, Global Financial Operations, of Pfizer Inc., a global pharmaceutical company.

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