Exhibit 99.1

CONTACT:

Tim Benson

Factory Card & Party Outlet Corp.

(630) 579-2231

tbenson@factorycard.com

FACTORY CARD & PARTY OUTLET CORP.

ANNOUNCES SALES FOR SEPTEMBER

NAPERVILLE, IL (October 7, 2004) – Factory Card & Party Outlet Corp. (NASDAQ: FCPO) announced today that net sales for the five-week period ended October 2, 2004 increased 2.3 percent, compared with the five-week period ended October 4, 2003. Comparable store sales for the same period decreased 1.2 percent.

“September sales were adversely impacted by the three hurricanes that struck Florida during the month,” said Gary W. Rada, President & Chief Executive Officer. He added, “our Florida stores have resumed normal business operations and all of our stores, including Florida, are well positioned for the Halloween season.”

	Fiscal Period Ended				Percent Change
(dollars in millions)	October 2, 2004		October 4, 2003		Total Sales		Comparable Sales
For the five weeks ended	$	18.9	$	18.5	2.3	%	(1.2	)%
For the 35 weeks ended	$	152.5	$	146.9	3.8	%	0.5	%

Factory Card & Party Outlet, (www.factorycard.com) based in Naperville, Illinois, currently operates 180 Company-owned retail stores in 20 states, offering a wide selection of party supplies, greeting cards, giftwrap, balloons, everyday and seasonal merchandise 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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