Wal-Mart Opens the First Store in Zhangzhou

Aug 29, 2006

Zhangzhou, August 29th, 2006 – Today, Wal-Mart celebrated the grand opening of its first store in Zhangzhou, Fujian Province – Wal-Mart Supercenter Danxia Road Store. Leaders from Zhangzhou Municipal Government joined executives from Wal-Mart (China) Investment Co., Ltd. at the opening ceremony.

At the opening ceremony, officials from various government organizations expressed their welcome to and appreciation for Wal-Mart’s investment in Zhangzhou city. They expect that Wal-Mart will bring along advanced retail expertise and will promote the development of the local circulation and manufacture industry. Mr. Stanley Yu, Vice President & COO of Wal-Mart China said that Wal-Mart has become a favorite destination of more and more shoppers thanks to its good customer service and high quality merchandise at Every Day Low Prices. The Zhangzhou store is the 62nd store Wal-Mart opened in China and the first one in Zhangzhou. Wal-Mart is confident that it will be well received by Zhangzhou residents and will contribute to Zhangzhou’s economy.

Located on Jiaxinmao Business Square on Danxia Road, Xiangcheng District, the new Wal-Mart Supercenter has a floor area of about 16,500 square meters. It offers nearly 20,000 merchandises, including fresh foods, apparels, household electrical appliances, etc. It also has special service areas featuring optical and jewelry services. As a return to customers’ support, Wal-Mart Zhangzhou store will offer great value merchandise and a series of retailtainment events during the grand opening.

Wal-Mart believes in Respect for the Individual, Service to Our Customers, and Strive for Excellence, and strives to providing customers with high quality merchandise at low prices and good service. Wal-Mart’s direct and indirect procurement from China exceeded USD 18 billion in 2004, making tremendous contribution to China’s economy and foreign trade development. Wal-Mart also actively contributes to various charitable and social welfare programs. Since 1996 when Wal-Mart entered the China market, the Company ’s donations to various charitable organizations have reached over RMB 23 million. By the end of 2005, Wal-Mart employs near 32,000 associates in China with a total investment of RMB1.7 billion. Wal-Mart has also paid taxes of over RMB 1.5 billion.

In 2005, Wal-Mart accomplished USD312.4 billion sales globally. It used to rank first on the FORTUNE 500 list for four consecutive years, and made FORTUNE magazine’s list of “Most Admired Companies in America” for two years in a row. Meanwhile, Wal-Mart was named one of the “Most Respected Companies” and the “Best Companies to Work For” in many other countries. In November 2005 Wal-Mart China was once again selected for the “2005 Top 10 Best Companies to Work For” award by FORTUNE China.

About Wal-Mart China

Wal-Mart China opened its first Supercenter and Sam’s Club in August 1996 in Shenzhen. It now operates 62 outlets including Supercenters, SAM’S CLUBs, and Neighborhood Markets in 32 cities with near 32,000 associates. Wal-Mart has brought with it advanced management expertise to China’s retail industry and provided local customers with good merchandise and services. For more information about Wal-Mart China, please visit www.wal-martchina.com.