The TJX Companies, Inc. Announces 14% Increase in Common Stock Dividend

FRAMINGHAM, Mass.--(BUSINESS WIRE)--April 11, 2000--The TJX Companies, Inc. (NYSE:TJX), the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, today announced that its Board of Directors has increased the Company's regular quarterly dividend on its common stock by 14% to $.04 per share, or $.16 annually, from the previous quarterly rate of $.035 per share, or $.14 annually. Additionally, the Board declared a regular quarterly dividend at the newly increased rate of $.04 per share, payable June 1, 2000, to shareholders of record as of May 11, 2000.

Bernard Cammarata, Chairman and Chief Executive Officer of The TJX Companies, Inc. stated, "Fiscal 2000 was a year of record sales and earnings for The TJX Companies. We are pleased to announce this dividend increase, which reflects our confidence in the Company's ability to continue our strong performance and to grow earnings in the years ahead."

The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 634 T.J. Maxx, 508 Marshalls, 52 HomeGoods and 15 A.J. Wright stores in the United States. In Canada, the Company operates 101 Winners and, in Europe, 55 T.K. Maxx stores. TJX's press releases and financial information are available on the Internet at www.tjx.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Certain statements contained in this release are forward-looking and involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: general economic conditions and consumer demand and consumer preferences and weather patterns in the U.S., Canada and Europe, particularly the United Kingdom; competitive factors, including continuing pressure from pricing and promotional activities of major competitors; impact of excess retail capacity and the availability of desirable store locations on suitable terms; the availability, selection and purchasing of attractive merchandise on favorable terms; import risks, including potential disruptions and duties, tariffs and quotas on imported merchandise, including economic and political problems in countries from which merchandise is imported; currency and exchange rate factors in the Company's foreign operations; risks in the development of new businesses and application of the Company's off-price strategies in foreign countries; acquisition and divestment activities and other factors that may be described in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.