TOYS ``R'' US TO DELAY RELEASE OF FOURTH QUARTER 2004 EARNINGS RESULTS IN ORDER TO REFLECT CHANGE IN ACCOUNTING FOR LEASES

WAYNE, N.J.--(BUSINESS WIRE)--March 15, 2005--Toys "R" Us, Inc. announced today that it will delay the release of its financial results for the 2004 fourth quarter and full year ended January 29, 2005. The delay will provide the Company and its auditors adequate time to evaluate the change in accounting for leases and leasehold improvements based on its previously announced review.

In a press release and form 8-K filed on February 18, 2005, the Company announced that it would correct an error in its accounting practices to conform the lease term used in calculating straight line rent expense with the term used to amortize improvements on leased property, and that its financial statements for prior fiscal years and periods would need to be restated as a result of the change in accounting.

As stated in the previous release, the change in lease accounting and resulting non-cash adjustments will not have any effect on the Company's historical cash flows or the timing of payments under the related leases.

Toys "R" Us, Inc. will provide further details about the earnings announcement and conference call at a later date.

Toys "R" Us is one of the leading specialty toy retailers in the world. Currently it sells merchandise through 1,500 stores, including 681 toy stores in the U.S. and 601 international toy stores, including licensed and franchise stores as well as through its Internet sites at www.toysrus.com, www.imaginarium.com and www.sportsrus.com. Babies "R" Us is the largest baby product specialty store chain in the world and a leader in the juvenile industry, and sells merchandise through 218 stores in the U.S. as well as on the Internet at www.babiesrus.com.

This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. All statements herein that are not historical facts, including statements about our beliefs or expectations, are forward-looking statements. We generally identify these statements by words or phrases such as "anticipate," "estimate," "plan," "expect," "believe," "intend," "will," "may," and similar words or phrases. These statements discuss, among other things, our strategy, store openings and renovations, future financial or operational performance, anticipated cost savings, results of restructurings, anticipated domestic or international developments, and other goals, targets and future occurrences and trends. These statements are subject to risks, uncertainties and other factors, including, among others, competition in the retail industry, seasonality of our business, changes in consumer preferences and consumer spending patterns, general economic conditions in the United States and other countries in which we conduct our business, our ability to implement our strategy, availability of adequate financing, our dependence on key vendors of our merchandise, international events affecting the delivery of toys and other products to our stores, economic, political and other developments associated with our international operations, and risks, uncertainties and factors set forth in our reports and documents filed with the Securities and Exchange Commission (which reports and documents should be read in conjunction with this press release). We believe that all forward-looking statements are based upon reasonable assumptions when made; however, we caution that it is impossible to predict actual results or outcomes or the effects of risks, uncertainties or other factors on anticipated results or outcomes and that, accordingly, you should not place undue reliance on these statements. Forward-looking statements speak only as of the date when made, and we undertake no obligation to update these statements in light of subsequent events or developments. Actual results and outcomes may differ materially from anticipated results or outcomes discussed in forward-looking statements.

CONTACT:
Toys "R" Us, Inc.
Investor Relations
Ursula H. Moran, 973-617-5756
Ray Arthur, Chief Financial Officer
973-617-5755

Media Relations
Susan McLaughlin, 973-617-5900