There is evidence that the use of 99 in the rightmost two digits of a retail price may create a low-price image in the minds of consumers (Quigley and Notarantonio 1992; Schindler 1984; Schindler and Kibarian 2001). This result contrasts with the surprising finding, replicated in two separate studies, that prices with 99 endings are both less likely to be the lowest prices for the item and are, on the average, further above the item’s lowest competitive price than are prices that do not end in 99 (Schindler 1997; 2001). One possible explanation for this discrepancy is that 99 endings are used when retailers are making a low-price appeal, such as claiming that the item is being sold at a discounted or otherwise low price. Such a claim does not necessarily mean that the item’s price is low with respect to what other retailers are charging for the item. However, consumers may make that generalization. The goal of this paper is to test whether this possibility is viable by examining if the presence of a 99 ending in an advertised price is related to the presence of a low-price appeal.