Today, Lowe's reiterated its prior sales and earnings guidance for the 2009 fiscal year, which was provided in its August 17, 2009 earnings release. Sales and earnings guidance can be found in the Business Outlook section of this release.

"Although the economic environment remains challenging, we continue to invest in our business and drive operating efficiencies to become a more efficient company and better serve the needs of home improvement customers," commented Robert A. Niblock, Lowe's chairman and CEO. "Over the past three years, we have worked to strike the right balance between controlling expenses and appropriately staffing stores to maintain great customer service. Our focus on achieving this balance enabled us to maintain profitability and positioned the company for continued success.

"Although prices have declined in recent years, the home remains many consumers' largest asset. What has changed is their approach to tackling home improvement projects. Consumers are shifting to more do-it-yourself projects as they balance convenience with the cost of outsourcing. Opportunity rests in our ability to understand consumers' evolving needs and provide products and customer-valued solutions," Niblock concluded.

During the conference, Lowe's executives will focus on key initiatives to capitalize on market growth and changing competitive dynamics, drive efficiencies, enhance customer service and increase market share. Highlights of those presentations include:

Gregory M. Bridgeford, executive vice president of business development: "Lowe's is well positioned to gain market share in this highly fragmented industry. Although the path to recovery will vary from market to market, our industry is expected to grow next year. Our growth will be fueled by prudent store expansion into underserved markets as well as the exploration of international opportunities that allow us to capitalize on our strengths."

Larry D. Stone, president and chief operating officer: "Using our Building Blocks for Success as a foundation, we are taking advantage of opportunities to drive efficiencies in all aspects of our business, while continuing to deliver our commitment to customer service. Additionally, we are implementing cross functional initiatives that position Lowe's to profitably grow market share and meet the evolving needs of home improvement consumers."

Robert F.