Wal-Mart Stores - Shareholder Investment Program

To join plan: Minimum $250, have one share of stock, or $25/mo automatic investment (10+ consecutive).

Optional cash investments: Min $50, invested within 5 business days. Minimum for automatic investments is $25.

Fees: ($$$-High)

• Initial investment: $20 plus $.10 per share.
• Optional cash investment: $5 plus $.10 per share (may be partially paid by company).
• Automatic investment: $1 plus $.10 per share.
• Sales fee: $20 plus $.10 per share.

Information:

Wal-Mart Shareholder Services
c/o EquiServe Trust Company, N.A.
P.O. Box 2540
Jersey City, N.J. 07303-2540

(800) 438-6278 or FAX (312) 499-7061

from prospectus dated September 24, 2001 plus additional info.