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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 4

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

o	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Name and Address of Reporting
Person*

Issuer Name and Ticker or Trading
Symbol

I.R.S. Identification Number of Reporting
Person, if an entity (Voluntary)

PSC, S.A.

(Last) (First) (Middle)

PriceSmart, Inc. (PSMT)

P.O. Box 0832-1384 World Trade Center

(Street)

Statement for Month/Day/Year

If Amendment, Date of Original (Month/Day/Year)

9/26/2002

Relationship of Reporting Person(s)
to Issuer (Check All Applicable)

Individual or Joint/Group Filing
(Check Applicable Line)

Panama Republic of Panama

(City) (State) (Zip)

Director

10% Owner

Form Filed by One Reporting Person

Officer (give title below)

Form Filed by More than One Reporting Person

Other (specify below)

Reminder:		Report on a separate line for each class of securities beneficially owned directly or indirectly.

*		If the form is filed by more than one reporting person, see instruction 4(b)(v).

Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

Title of Security
(Instr. 3)

Transaction
Date
(Month/Day/Year)

2A.

Deemed Execution
Date, if any
(Month/Day/Year)

Transaction
Code
(Instr. 8)

Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5)

Amount of Sec-
urities Beneficially
Owned Following
Reported Trans-
action(s)
(Instr. 3 and 4)

Ownership
Form:
Direct (D) or
Indirect (I)
(Instr. 4)

Nature of
Indirect
Beneficial
Ownership
(Instr. 4)

Code

Amount

(A)
or
(D)

Price

Common Stock, $.0001 par value per share

9/26/02

79,313 (1)

$33.50

758,813 (1)

D (1)

Common Stock, $.0001 par value per share

9/26/02

79,313 (2)

$33.50

758,813 (2)

By PSC, S.A. (2)

Common Stock, $.0001 par value per share

9/26/02

79,313 (3)

$33.50

758,813 (3)

By PSC, S.A.(3)

Common Stock, $.0001 par value per share

9/26/02

79,313 (4)

$33.50

758,813 (4)

By PSC, S.A.(4)

Page 2

Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

Title of Derivative
Security
(Instr. 3)

Conversion or Exercise
Price of Derivative
Security

Transaction
Date
(Month/Day/Year)

3A.

Deemed Execution
Date, if any
(Month/Day/Year)

Transaction
Code
(Instr. 8)

Number of Derivative Securities
Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)

Code

(A)

(D)

Page 3

Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned — Continued
(e.g., puts, calls, warrants, options, convertible securities)

Date Exercisable and
Expiration Date
(Month/Day/Year)

Title and Amount
of Underlying Securities
(Instr. 3 and 4)

Price of Derivative
Security
(Instr. 5)

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)

Date
Exercisable

Expiration
Date

Title

Amount or
Number of
Shares

Explanation of Responses:

(1) These securities are owned directly by PSC, S.A.

(2) These securities are owned indirectly by Mario Rapaccioli. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

(3) These securities are owned indirectly by John Keith. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

(4) These securities are owned indirectly by Alberto Bonetti. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

/s/ Edgar A. Zurcher		9/30/2002
**Signature of Reporting Person		Date

**		Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:		File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Page 4

FORM 4 APPENDIX

Name and Address of Reporting Person:

Mario Rapaccioli
P.O. Box 0832-1384 World Trade Center
Panama, Republic of Panama

Signature:

/s/ MARIO RAPACCIOLI

Mario Rapaccioli

Designated Filer: PSC, S.A.
Date of Event Requiring Statement: 9/26/2002
Issuer Name and Ticker or Trading Symbol: PriceSmart, Inc. (PSMT)

Name and Address of Reporting Person:

John Keith
P.O. Box 0832-1384 World Trade Center
Panama, Republic of Panama

Signature:

/s/ JOHN KEITH

John Keith

Designated Filer: PSC, S.A.
Date of Event Requiring Statement: 9/26/2002
Issuer Name and Ticker or Trading Symbol: PriceSmart, Inc. (PSMT)

Page 5 of 6

Name and Address of Reporting Person:

Alberto Bonetti
P.O. Box 0832-1384 World Trade Center
Panama, Republic of Panama

Signature:

/s/ ALBERTO BONETTI

Alberto Bonetti

Designated Filer: PSC, S.A.
Date of Event Requiring Statement: 9/26/2002
Issuer Name and Ticker or Trading Symbol: PriceSmart, Inc. (PSMT)

Page 6 of 6

PSC SA 4