Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
PRICE ROBERT E
   2. Issuer Name and Ticker or Trading Symbol
PRICESMART INC [PSMT] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) __X__ Other (specify below)
Chairman of the Board / Interim CEO
(Last)
(First)
(Middle)
7979 IVANHOE AVENUE, SUITE 520		 3. Date of Earliest Transaction (Month/Day/Year)
04/28/2005
(Street)

LA JOLLA, CA 92037		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               1,700,453 I As director of San Diego Revitalization Corp. (1)
Common Stock 04/28/2005   J   162,525 A $ 8 812,395 I As co-trustee of the Robert and Allison Price Trust UTD 1/20/75
Common Stock               2,240,168 I As co-trustee of the Robert and Allison Price Charitable Trust (2)
Common Stock               56,415 I As co-trustee (2)
Common Stock               530 I As custodian for the minor children of the reporting person
Common Stock               80 D (3)  
Common Stock 04/28/2005   J   412,500 A $ 8 7,088,369 I As co-manager of The Price Group LLC (2)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
PRICE ROBERT E
7979 IVANHOE AVENUE
SUITE 520
LA JOLLA, CA 92037		   X   X   Chairman of the Board Interim CEO

Signatures

 /s/ Robert E. Price   05/02/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The reporting person disclaims beneficial ownership of these securities.
(2) The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest (if any) therein.
(3) Held in the 401(k) of the reporting person.
 
Remarks:
On April 28, 2005, The Price Group LLC (the "Price Group") transferred 2,217,500 shares of the capital stock of PSMT (Guatamala), S.A. ("PSMT

Guatamala") to PriceSmart Inc. ("PriceSmart") in exchange for the issuance by PriceSmart to Price Group of 412,500 shares of PriceSmart common stock.

In addition, on April 28, 2005, the Robert and Allison Price Trust UTD 1/20/75 ("RAPT") transferred 873,694 shares of the capital stock of PSMT

Guatamala to PriceSmart in exchange for the issuance by PriceSmart to RAPT of 162,525 shares of PriceSmart common stock.  For purposes of such

transfers and issuances, the PriceSmart common stock was valued at $8.00 per share.

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