Cost Plus, Inc. Reschedules Release of Fourth Quarter and Fiscal Year 2006 Financial Results and Investor Conference Call to April 12, 2007

OAKLAND, Calif. — March 20, 2007 — Cost Plus, Inc. (Nasdaq: CPWM) announced today that it has rescheduled the release of its fourth quarter and fiscal year 2006 earnings and investor conference call in order to provide additional time for the Company to finish its financial statement close and allow its independent auditor to complete its audit of the fiscal year ended February 3, 2007. The earnings release and conference call were rescheduled to Thursday, April 12, after market close, from the previously announced March 22, 2007.

The Company will issue its fourth quarter and fiscal 2006 earnings release after the market close on April 12, 2007, and will host a conference call for investors at 1:30 p.m. PT that day. Participating in the call will be Barry Feld, President and Chief Executive Officer, and Tom Willardson, Chief Financial Officer.

The conference call will be in a “listen-only” mode for all participants other than the sell-side and buy-side investment professionals who regularly follow the Company. The toll-free phone number for the call is 800-901-5231 and the access code is 39184141. Callers should dial in approximately 15 minutes prior to the scheduled start time. A telephonic replay will be available at 888-286-8010, Access Code: 87237570, from 4:30 p.m. PT Thursday to 4:30 p.m. PT on Thursday, April 19, 2007. Investors may also access the live call or the replay over the internet at www.streetevents.com; www.fulldisclosure.com and www.worldmarket.com. The replay will be available approximately two hours after the live call concludes.

Cost Plus, Inc. is a leading specialty retailer of casual home living and entertaining products. As of February 3, 2007, the Company operated 287 stores in 34 states compared to 267 stores in 34 states as of January 28, 2006.

Contact:
Tom Willardson
(510) 808-9119