EXHIBIT NO. 99.1

FOR IMMEDIATE RELEASE	CONTACT:
	Sean Wheatley
	Factory Card & Party Outlet Corp.
	(630) 579-2164
	swheatley@factorycard.com

FACTORY CARD & PARTY OUTLET CORP.

ANNOUNCES SALES FOR FISCAL APRIL 2004

NAPERVILLE, IL (May 5, 2004) – Factory Card & Party Outlet Corp. (FCPO) announced today total sales for the four-week period ended May 1, 2004 declined 2.4 percent compared with the four-week period ended May 3, 2003. Comparable store sales for the same period declined 5.2 percent.

“Our April sales performance is reflective of the calendar shift of Easter compared to prior year,” stated Gary Rada, President & Chief Executive Officer. “We continue to be pleased with the results of the juvenile birthday initiative and its contribution to our sales performance during the first quarter.”

	Fiscal Period Ended				Percent Change
(dollars in millions)	May 1, 2004		May 3, 2003		Total Sales		Comparable Sales
For the four weeks ended	$	18.4	$	18.8	(2.4	)%	(5.2	)%
For the 13 weeks ended	$	56.9	$	54.5	4.3	%	1.7	%

Factory Card & Party Outlet, (www.factorycard.com) based in Naperville, Illinois, currently operates 180 Company-owned retail stores in 20 states, offering an extensive assortment of party supplies, greeting cards, giftwrap, and other special occasion merchandise at everyday value prices.

Certain statements in this news release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, year-end adjustments and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements express or implied by such forward-looking statements.

In general, the results, performance or achievements of the Company and its stores and the value of the Company’s common stock are dependent upon a number of factors including, without limitation, the dependence on key personnel; competition, ability to anticipate merchandise trends and consumer demand; ability to maintain relationships with suppliers; successful implementation of information systems; successful handling of merchandise logistics; inventory shrinkage; ability to meet future capital needs; governmental regulations; and other factors both referenced and not referenced in the Company’s filings with the Securities and Exchange Commission.

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