X0202 4 2006-02-01 0 0001041803 PRICESMART INC PSMT 0001122913 PRICE GROUP LLC 7979 IVANHOE AVENUE SUITE 520 LA JOLLA CA 92037 0 0 1 0 Common Stock 2006-02-01 4 X 0 300000 12 A 7388369 D Put Option (Obligation to Buy) 12 2004-09-20 4 S 0 300000 D 2005-11-30 2006-11-30 Common Stock 300000 300000 D Put Option (Obligation to Buy) 12 2006-02-01 4 X 0 300000 0 D 2005-11-30 2006-11-30 Common Stock 300000 0 D See Remarks below. On September 20, 2004, in connection with a restructuring of International Finance Corporation's ("IFC") investments in PriceSmart, Inc. ("PriceSmart"), The Price Group LLC ("Price Group") and IFC executed a Put Option Agreement, dated as of September 20, 2004, which was amended and restated as of January 7, 2005 (the "Option Agreement"), pursuant to which Price Group granted to IFC the option (the "Put Option"), exercisable in whole or in part between November 30, 2005 and November 30, 2006, to require Price Group to purchase up to 300,000 shares of PriceSmart common stock from IFC at the price of $12 per share. On or around February 1, 2006, IFC delivered notice to Price Group, exercising the Put Option in its entirety. However, the settlement of such exercise will not occur until March 15, 2006, at which time, pursuant to the terms and conditions of the Put Option, IFC will transfer 300,000 shares of PriceSmart common stock to Price Group, and Price Group will transfer $3,600,000 to IFC. /s/ Jack McGrory 2006-02-08