Home News Wal-Mart Successfully Completes Tender Offer for Seiyu

Wal-Mart Successfully Completes Tender Offer for Seiyu

Will proceed with steps to acquire full ownership

Bentonville, Ark. – December 5, 2007 – Wal-Mart Stores, Inc. (“Wal-Mart”) (NYSE:WMT) today announced that its tender offer to acquire all of the issued and outstanding shares of its Japanese subsidiary, The Seiyu, Ltd. (“Seiyu”) (TSE: 8268), resulted in 411,884,160 ordinary shares being tendered. Upon settlement, this will raise Wal-Mart’s ownership of Seiyu from 50.9 percent to 95.1 percent, well above the tender offer’s minimum target of two-thirds ownership.  In addition, all preferred shares not already held by Wal-Mart were tendered.

“We are very pleased with the positive response to this tender offer,” said Mike Duke, Vice Chairman of Wal-Mart Stores, Inc. “This successful result paves the way to achieve our stated goal of full ownership of Seiyu, which will enable Seiyu and Wal-Mart together to accelerate the delivery of long-term benefits to our customers, the communities we serve, our associates and our business partners.”

The tender offer commenced on October 23, 2007, and closed on December 4, 2007. Settlement for tenders received will commence on December 11, 2007. As a result of this tender offer, Wal-Mart will proceed with additional steps to acquire all of the remaining shares, which will result in the delisting of Seiyu shares from the Tokyo Stock Exchange.


About Wal-Mart Stores, Inc. (NYSE: WMT)
Wal-Mart Stores, Inc. operates Wal-Mart discount stores, Supercenters, Neighborhood Markets and Sam’s Club locations in the United States. The Company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom. Wal-Mart serves more than 176 million customers weekly in 14 markets. The Company’s securities are listed on the New York Stock Exchange under the symbol WMT.  For more information: www.walmartfacts.com

About The Seiyu, Ltd. (TSE: 8268)
The Seiyu, Ltd. is a leading Japanese retailer, with major operations in supermarkets and general merchandising stores. As of August 2007, the Seiyu Group operates 393 stores located throughout Japan. For more information: www.seiyu.co.jp/english

Media contacts:
In the U.S.:  Wal-Mart Stores, Inc.
Kevin Gardner  +1 (479) 204-6143 kevin.gardner@wal-mart.com

In Japan: Gavin Anderson
Deborah Hayden/Anya Bailey +81 3 5404 0640

Investor contacts:
Wal-Mart Investor Relations
Carol Schumacher  +1 (479) 277-1498
Anthony Clark +1 (479) 277-9958

This release contains statements that Wal-Mart believes are "forward looking" within the meaning of the Private Securities Litigation Reform Act of 1995 that are intended to enjoy the protection of the safe harbor for forward-looking statements provided by that act.  These forward-looking statements include statements as to our intention to take additional steps to acquire the remaining Seiyu shares not acquired in the tender offer, our commitment to the Japanese market, our goals in achieving long term growth and success in Japan and our belief that it is in Wal-Mart’s best interest that Seiyu become a wholly-owned subsidiary so that additional changes in benefits may be accelerated and provided to customers, associates and business partners of Seiyu.  These statements are identified by the use of the words "achieve," "accelerate," "believe," "provides," and similar words or expressions. These forward looking statements are subject to risks, uncertainties and other factors, domestically and internationally, including consumer spending patterns, debt levels, unemployment levels, fuel prices, inflation levels, weather conditions, competitive pressures and other risks.  We discuss certain of these matters and other risk factors more fully in our filings with the SEC, including our last Annual Report on Form 10-K.  This release should be read in conjunction with that Annual Report on Form 10-K and certain other filings of Wal-Mart with the SEC through the date of this release.  Wal-Mart urges you to consider all of these risks, uncertainties and other factors carefully in evaluating these forward-looking statements and not place undue reliance on such statements.  As a result of these and other matters, including changes in facts, assumptions not being realized or other circumstances, our actual results may differ materially from those discussed in the forward-looking statements.  The forward-looking statements included in this release are only made as of the date of this release, and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances.