Cost Plus, Inc. Announces Executive Appointment

Oakland, CA – April 27, 2004 – Cost Plus, Inc. (NASDAQ-CPWM) announced that Theresa Strickland is joining the Company as Executive Vice President, Merchandising and Marketing this week.

Ms. Strickland brings 20 years of retail experience to Cost Plus, Inc. At Macy’s West she rose to the level of Vice President, Merchandising in the home furnishings area before moving to Pottery Barn where she was Sr. Vice President, General Merchandising Manager. She subsequently developed her own retail business which she later sold. Most recently, she was Executive Vice President of Product Development, Design, Visual and Marketing for Syratech Corporation. She will report directly to CEO Murray Dashe.

Mr. Dashe said, “Theresa’s rare background of specialty store, department store, and entrepreneurial experience is an excellent fit with the Cost Plus World Market organization. Her leadership should further strengthen the merchandising and marketing staff as our company approaches the billion dollar level of sales.”

Reporting to Ms. Strickland will be Patricia Juckett who has directed the Company’s Advertising and Marketing efforts for nearly seven years and was recently promoted to Senior Vice President, Lisa Griffin, Vice President of Planning and Allocation and a three year veteran of Cost Plus, as well as the Buying and Merchandising organization. Steve Higgins, Senior Vice President, Merchandising is leaving the Company to pursue other interests.

Cost Plus, Inc. is a leading specialty retailer of casual home living and entertaining products. As of April 27, 2004, the Company operated 218 stores in 26 states.

Contact: Murray Dashe
(510)893-7300

or

John Luttrell
(510)808-9119