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Best Buy unveils five-year corporate citizenship aspirations intended to align growth goals with social, environmental accountability

MINNEAPOLIS, July 31 – Best Buy Co., Inc. (NYSE:BBY) is pleased to announce that its fiscal 2008 corporate responsibility report is now available for download at http://www.bestbuyinc.com/corporate_responsibility. This report is one of the company’s first steps toward its newly-established, five-year aspirations for corporate citizenship, and provides a preliminary overview of the programs that it expects will help drive the social and environmental accountability of the retailer while it continues to grow.
 
The company has focused its energy around corporate citizenship as a common denominator with its customer-centric business model and its goals for growth. The aspirations point to where Best Buy projects its business and operations will be five years from now, and are intended to help guide daily decision-making across brands and operations:

1. A global champion for human ingenuity and opportunity – Best Buy employees expect to provide leadership for our industry, our customers and our communities worldwide.
2. A global advocate for consumers in the world of technology – Best Buy intends to deliver consumer electronics products and services to more people than any other company in the world.
3. Environmentally and socially accountable for all brands and business operations worldwide

“As we plan growth for our business and market share in the coming years, worldwide, we must take responsibility for our business, and consider our social and environmental impact,” said Paula Prahl, senior vice president, communications, public affairs, and corporate responsibility. “We know these aspirations are very broad, but we are approaching them strategically through our existing customer-centric business model. We believe we have a clear idea of what corporate citizenship means to Best Buy, and we intend to reach these aspirations through the contributions of every function, every operation, and every employee around the world.”
 
The fiscal 2008 report includes examples of how Best Buy is intending to institute changes and plans to make investments that will make the company more socially and environmentally responsible. Visit http://www.bestbuyinc.com/corporate_responsibility to download.
 
Best Buy’s Forward-Looking and Cautionary Statements:
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the U.S. Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that reflect Best Buy management’s current views and estimates regarding future market conditions, company performance and financial results, business prospects, new strategies, the competitive environment and other events. You can identify these statements by the fact that they use words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “project,” “plan,” “outlook,” and other words and terms of similar meaning. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. Among the factors that could cause actual results and outcomes to differ materially from those contained in such forward-looking statements are the following: general economic conditions, acquisitions and development of new businesses, divestitures, product availability, sales volumes, pricing actions and promotional activities of competitors, profit margins, weather, changes in law or regulations, foreign currency fluctuation, availability of suitable real estate locations, Best Buy’s ability to react to a disaster recovery situation, and the impact of labor markets and new product introductions on overall profitability. A further list and description of risks, uncertainties and other matters can be found in Best Buy’s annual report and other reports filed from time to time with the U.S. Securities and Exchange Commission (“SEC”), including, but not limited to, Best Buy’s Annual Report on Form 10-K filed with the SEC on April 30, 2008. Best Buy cautions that the foregoing list of important factors is not complete and assumes no obligation to update any forward-looking statement that it may make.
 
About Best Buy Co., Inc.
With operations in the United States, Canada, Europe and China, Best Buy Co., Inc. (NYSE: BBY) is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy Co., Inc. family of brands and partnerships collectively generates more than $40 billion annual revenue and includes brands such as Best Buy, Audiovisions, The Carphone Warehouse, Future Shop, Geek Squad, Jiangsu Five Star, Magnolia Audio Video, Pacific Sales Kitchen and Bath Centers, and Speakeasy. Approximately 150,000 employees apply their talents to help bring the benefits of these brands to life for customers through retail locations, multiple call centers and web sites, in-home solutions, product delivery and in our communities. Community partnership is central to the way we do business at Best Buy. In fiscal 2008, we donated a combined $31.8 million to improve the vitality of the communities where our employees and customers live and work. For more information about Best Buy Co., Inc., visit www.bestbuyinc.com.

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