9.29.2005 ET

(CSRwire) MINNEAPOLIS--(BUSINESS WIRE)--Sept. 29, 2005--Best Buy Co., Inc. (NYSE:BBY) has announced an $8 million relief package to help K-12 schools damaged or destroyed by recent hurricanes, as well as schools which have enrolled displaced students.

"Our employees and their families live and work in the neighborhoods devastated by these storms," said Brad Anderson, vice chairman and CEO, Best Buy. "We believe we can best serve these communities by bridging technology and education. More than ever, K-12 schools and students in these areas need our help to reboot and rebuild, and we will lend a hand."

Working with appropriate state and local officials in Alabama, Mississippi, Louisiana and Texas, Best Buy will donate $5 million in computer equipment, networks and Geek Squad services (the company's 24-hour computer support task force) to help rebuild damaged or destroyed facilities. Specific details of Best Buy's donation will be finalized as the states draft timelines for the repair and rebuilding of facilities.

Starting Oct. 1, 2005, a special te@ch emergency response program, worth up to $3 million, launches for K-12 schools with increased enrollment of students displaced by the hurricanes. The te@ch program awards Best Buy gift cards to schools that can be applied toward improving the classroom experience this year for all students. Gift cards will be awarded in amounts up to $5,000 per school. Principals and teachers of schools with displaced students may apply online for a special te@ch award at www.bestbuy.com. Applications will be accepted through Nov. 4, 2005 with gift cards awarded to schools by Nov. 21, 2005.

Best Buy donations for hurricane relief now total $10 million. The company previously announced a matching program for customer donations to the American Red Cross Disaster Relief Fund in support of hurricane victims; the Best Buy Children's Foundation is matching in-store and online donations through September 30, up to $2 million.

About Best Buy's Community Commitment

As a community partner, Best Buy works to encourage ideas and to confront challenges. Through its many philanthropic activities, Best Buy extends its support in times of celebration and in times of need.

In fiscal 2005, Best Buy and the Best Buy Children's Foundation donated $19 million to its communities, approximately 1.5 percent of its prior fiscal year's pretax earnings. The company encourages local volunteerism by providing charitable gifts to organizations where employees volunteer, awards annual scholarships to graduating high-school seniors, and supports schools using technology to enhance learning through the Best Buy te@ch program. Best Buy works with the Red Cross to provide support in times of disaster, including a donation of more than $2 million for its Disaster Relief Fund in response to Hurricane Katrina. The company also connects with the United Way to meet local community needs, and supports national organizations innovatively using technology in youth education. In addition, Best Buy is committed to environmental responsibility. Last year, the company collected and recycled nearly 1 million pounds of used and obsolete electronic items though special mass collection events and everyday collection of cellular phones, ink jet cartridges and rechargeable batteries. For more information about Best Buy's community relations efforts, visit www.BestBuy.com/CommunityRelations.

About Best Buy Co., Inc.

Best Buy Co., Inc. (NYSE:BBY) is an innovative Fortune 100 growth company that continually strives to create superior customer experiences. Through more than 870 retail stores across the United States and in Canada, our employees connect customers with technology and entertainment products and services that make life easier and more fun. We sell consumer electronics, home-office products, entertainment software, appliances and related services. A Minneapolis-based company, our operations include: Best Buy (BestBuy.com and BestBuy.ca), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com and GeekSquad.ca) and Magnolia Audio Video (Magnoliaav.com). We support our communities through employee volunteerism and grants from The Best Buy Children's Foundation.

Copyright Business Wire 2005

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