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PriceSmart backs off of its bid for privacy.(Sarbanes-Oxley Act of 2002)(Brief Article)

Chain Store Age Executive Fax

| March 18, 2005 | COPYRIGHT 2003 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission. (Hide copyright information)Copyright

Just a few days after paying $2.35 million to bring an end to a shareholder lawsuit, San Diego-based PriceSmart revealed frustration with the high costs of filing reports with the Securities and Exchange Commission and complying to Sarbanes-Oxley accounting rules. But it's not ready to go private just yet. The company is taking advantage of a one-year extension in SOX compliance. The extension applies to certain companies with less than $75 million in common stock …

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