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Office Depot Commits to Develop All-Encompassing Environmental Policy

Office Depot Commits to Develop All-Encompassing Environmental Policy

Published 04-10-03

Submitted by Office Depot, Inc.

DELRAY BEACH, FL — Office Depot, Inc., (NYSE:ODP), the world’s largest seller of recycled paper products, today announced additional efforts to bolster its leadership position on key environmental issues related to the office supplies industry. These measures include the development of a comprehensive environmental policy.

“Office Depot is committed to environmental stewardship,” said Bruce Nelson, Chairman and Chief Executive Officer of Office Depot. “Our approach to the environment must extend beyond our line of paper products to other aspects of our business.”

To that end, Nelson announced that the company would be working with environmental groups, customers and suppliers to develop a comprehensive environmental policy to guide how it conducts business.

“Our policy will cover our entire operation,” Nelson noted, “from the products we purchase and the services we offer customers, to the daily operations at our corporate offices and retail stores. It will encompass paper procurement, but also a commitment to recycled products throughout our lineup as well as energy conservation measures.

According to Nelson, the principles that will guide the company’s approach are engagement, credibility, and transparency. The company will draft a policy and mission statement with goals that are not only meaningful and responsible but implementable as well. Further, the company will report publicly on its progress and review the performance of its suppliers through the use of independent verification and third-party auditing.

“Our commitment to the environment is not new,” he added. “We are building on past efforts to behave as a responsible corporate citizen – both as a reseller and as a corporate user of paper goods.”

Office Depot will continue to offer a variety of educational information to its retail customers as well as to its corporate customers through the company’s contract business channel. One of these efforts upon which the company will build is the company’s business relationship with GreenOrder, an environmental auditing firm that helps customers select the most environmentally responsible products from the large assortment available at Office Depot.

The company is also implementing a number of web-based tools that reduce the use of paper throughout Office Depot’s operations. Initiatives in this area include the launch of an Intranet-based retail store portal, eliminating the distribution of paper-intensive documents; the creation of a “paperless fax” program; and the development of an Intranet-based bill paying and receipt management program.

Office Depot currently offers more than 2,000 products containing recycled content, and has introduced new items such as the 100% post-consumer waste content papers launched this year.

About Office Depot

No one sells more office products to more customers in more countries than Office Depot. The Company operates under the Office Depot, Viking Office Products, Viking Direct and 4Sure.com brand names. As of December 28, 2002, Office Depot operated 867 office supply superstores in the United States and Canada, in addition to a national business-to-business delivery network supported by 24 delivery centers, more than 60 local sales offices and 13 regional call centers. Furthermore, the Company sells products and services in 20 countries outside of the United States and Canada, including 37 office supply stores in France and 13 in Japan that are owned and operated by the Company; and 121 additional office supply stores under joint venture and licensing agreements operating under the Office Depot name in seven foreign countries.

The Company operates a number of award-winning Web sites, including its U.S. corporate site at www.officedepot.com, where customers can access Office Depot’s low competitive prices seven days a week, twenty-four hours a day.

Office Depot’s common stock is traded on the New York Stock Exchange under the symbol ODP and is included in the S&P 500 Index.

Office Depot, Inc. logo

Office Depot, Inc.

Office Depot, Inc.

Office Depot provides more office products and services to more customers in more countries than any other company. Incorporated in 1986 and headquartered in Delray Beach, Fla., Office Depot has annual sales of nearly $15 billion, and employs approximately 50,000 associates around the world. Currently, the Company sells to customers directly or through affiliates in 42 countries. Office Depot is a leader in every distribution channel -- from retail stores and contract delivery to catalogs and e-commerce. Office Depot serves a wide range of customers through a dedicated sales force, telephone account managers, direct mail offerings, and multiple web sites.

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