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Best Buy’s Opens its First Store in Puerto Rico

SAN JUAN – Feb. 29, 2008 – Best Buy Co., Inc, a multinational retailer of technology and entertainment products and services, opened today its first Best Buy retail store in Puerto Rico, conveniently located across from Plaza Las Americas in Hato Rey, San Juan.
 
During the grand opening ceremony, Mary Stoddart, Best Buy’s vice president of field leadership, said, “After a multi-year journey learning about the Puerto Rican consumer, local customs and regulations, working proactively with government agencies, recruiting more than 200 expert Puerto Rican employees, and actively working with the community, we are happy to open the doors of our first store in Puerto Rico.”
 
Miguel Méndez, general manager of Best Buy Hato Rey store, said “We are proud to present a store tailored to the Puerto Rican customer’s needs that will also be serviced by a team of local experts in the retail industry. It is important to emphasize that months before starting our operation in the Island we have been actively working with the community, donating books to local public schools, updating the technology at libraries and making special contributions to nonprofit institutions. In celebration of our store opening, today we are donating $10,000 to Casa Cuna, a home dedicated to provide 24-hour emergency care for infants in need up to three years old.”
 
Enthusiastic customers were waiting before the store opening to be the first to explore the approximately 45,000 square feet store featuring the latest and greatest technology offerings, including consumer electronics, home-office products, entertainment software, appliances and related services. The store, that has more than 400 free parking spaces, focus on meeting local needs through a customized selection of products, including extensive Latin music offerings, split air conditioners, marine audio products and window tinting services.
 
Best Buy prides itself on helping people find the right product so their technology and entertainment fits into their lives perfectly. Conducive to that experience, the new store has interactive displays where customers can see, touch and feel products before buying them. The store format is designed to cater to customers’ individual needs, whether they prefer one-on-one, in-depth or limited assistance from skilled Best Buy Blue Shirts and Geek Squad Technicians.  Signage is primarily in Spanish. Also, dedicated sales operator phone support is available at the store for assistance.
 
Best Buy Employees: A People Powered Organization
The company’s employees are the core of Best Buy. The new Hato Rey store employs more than 200 local Puerto Rico people, including a local management team that helped guide the store development. As a people-powered organization, Best Buy invests heavily in discovering and training employees in customer service, product knowledge and financial acumen. As store employees are closest to the customers, the company relies on them for their innovative ideas and feedback to enhance customers’ shopping experiences. Whether an individual’s passion is to be the best Blue Shirt salesperson on the floor, a Geek Squad Agent or the next CEO, Best Buy fuels employees with the knowledge and resources to achieve their personal ambitions.
 
“I am proud to be part of Best Buy’s management team and to collaborate with a local group of highly talented and experienced professionals, who will focus on solving customer needs,” expressed Méndez. “We will continue Best Buy’s tradition of supporting and promoting the communities where the company has stores.”
 
Committed to the Community
Best Buy commits to being a vital community partner. In fiscal 2007, Best Buy donated a combined $25.3 million to support and strengthen our communities in technology inspired ways. Before opening its first store in Puerto Rico, the company supported the island’s growth by:

• Updating the technology in the Estudia Conmigo Library in Hato Rey so students have access to the latest research for school needs. Geek Squad Agents will continue to service the library.
• Donating more than 10,000 books to local schools, including Escuela del Deporte located in San Juan. Additional books will be donated during the upcoming weeks.
• Donating $10,000 to Casa Cuna in connection with the store opening

 
Aligned with it’s commitment to support and promote the Puerto Rican culture, Best Buy is the presenting sponsor of the award-winning singer Olga Tañón concert, “Evolution Tour 08”.  The three-day concert runs the same weekend that Best Buy is celebrating the grand opening of its first store on the island.
 
For more information about Best Buy’s philanthropic efforts, visit www.bestbuy.com/communityrelations.
 
Best Buy plans to open a second store early in summer at the municipality of Caguas.
 
About Best Buy Co., Inc.
Best Buy Co., Inc. (NYSE:BBY) operates a global portfolio of brands with a commitment to growth and innovation. Our employees strive to provide customers around the world with superior experiences by responding to their unique needs and aspirations. We sell consumer electronics, home-office products, entertainment software, appliances and related services through nearly 1,300 retail stores across the United States, throughout Canada and in China. Our multi-channel operations include: Best Buy (BestBuy.com, BestBuy.ca and BestBuy.com.cn), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com and GeekSquad.ca), Pacific Sales Kitchen and Bath Centers (PacificSales.com), Magnolia Audio Video (Magnoliaav.com), Jiangsu Five Star Appliance Co. (Five-Star.cn) and Speakeasy (Speakeasy.net). Best Buy supports the communities in which its employees work and live through volunteerism and grants that benefit children and education.

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