Cost Plus, Inc. Announces Resignation of Chief Financial Officer

Oakland, CA — November 29, 2005 — Cost Plus, Inc. (Nasdaq: CPWM) announced today the resignation of John Luttrell as its Executive Vice President and Chief Financial Officer. Luttrell is leaving to accept a similar position at Wet Seal, Inc. The Company indicated a search has begun to find his replacement.

In the interim, the Company has created an Office of the Chief Financial Officer that includes Jane Baughman, Vice President Financial Planning and Treasurer and Chris Miller, Vice President and Controller. Jane Baughman will assume the duties of Interim Principal Financial Officer and Chris Miller will assume the additional duties of Interim Chief Accounting Officer. These individuals will report directly to Barry Feld, Chief Executive Officer and President.

According to Barry Feld, “John Luttrell played a significant role in our organization over his almost six years with World Market and contributed greatly during that time. We will miss his dedication and wish him all the success in his new position.”

Cost Plus, Inc. is a leading specialty retailer of casual home living and entertaining products. As of November 29, 2005, the Company operated 266 stores in 34 states.

Contact: Barry Feld (510) 893-7300
or
John Luttrell (510) 808-9119