LOWE'S ADDS NEW DESIGNER COLORS TO POPULAR PAINT PROGRAM

Colors Inspired by Nickelodeon® and Eddie Bauer® Home Round out Collection

WILKESBORO, N.C. - July 16, 2003 - Few home improvements can create a personal, new look as quickly, easily and inexpensively as a fresh coat of paint. And, now, the transformation just got more fun and foolproof with colors inspired by Nickelodeon® and the Eddie Bauer® Home collection added to Lowe's popular American Tradition® Signature Colors™ paint program.

Signature Colors features designer color palettes from Alexander Julian at Home, Laura Ashley Home, Waverly Home Classics and Earth Elements, as well as a new paint formulation to make the job easier and a computerized color selection system that allows consumers to experiment with different wall and trim colors in a variety of room settings.

"Paint colors inspired by Nickelodeon and Eddie Bauer Home round out the Signature Colors program, which is based on years of experience working with homeowners to understand what their paint needs and color preferences are," said Ben Mauceri, Lowe's vice president for paint. "Now people can easily use paint to bring to life their decorating ideas and personalized style."

Launched earlier this year, the Signature Colors program is an exclusive alliance of Lowe's Home Improvement Warehouse, The Valspar Corporation and leading home designers. The Nickelodeon and Eddie Bauer Home color palettes will roll out to Lowe's stores nationwide starting immediately and continuing through the fall.

New Colors

The Nickelodeon collection will feature six color families inspired by favorite children's programs: Blues Clues, Oswald, Dora the Explorer, Rugrats, Jimmy Neutron and SpongeBob Squarepants. These exciting and familiar bright colors are especially designed for children's bedrooms and playrooms as are the coordinated kits of themed sponges and appliqués.

The Eddie Bauer Home Signature Colors palette features four color families representative of the company's outdoor heritage. Consumers can choose colors from Lakeside Cottage, American Farmhouse, Craftsman Bungalow and Ridgeline Cabin.

Computerized Help

"Because many people have what we call 'color anxiety,' the centerpiece of this program is a computerized system that allows a consumer to try a variety of different wall and trim color combinations in different room settings," explained Mauceri. "They can use the system in our Lowe's stores or purchase the software and use it at home with photos of their own rooms." Signature Colors™ Virtual Painter software is available for $5.97 at Lowe's.

Premium Paint

American Tradition Signature Colors are specially formulated in a new process to create a rich and creamy, low-odor paint that ensures thick one-coat coverage, superior color definition and a stain-resistant, washable finish.

About Lowe's

With fiscal year 2002 sales of $26.5 billion, Lowe's Companies, Inc. is a FORTUNE 100 company that serves approximately nine million customers a week at more than 875 home improvement stores in 45 states. In 2003, FORTUNE named Lowe's America's Most Admired Specialty Retailer, and the EPA selected Lowe's as Energy Star Retail Partner of the Year. Based in Wilkesboro, N.C., the 57-year old company is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.

The Valspar Corporation is a global leader in the paint and coatings industry. Since 1806, Valspar has been dedicated to bringing customers the latest innovations, the finest quality and the best customer service in the industry.

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