``Tax Free Holiday'' Shopping for Back-To-School Supplies at Office Depot; Customers Can Earn Credit To Benefit Children's Schools and Save Money.

Business Editors

DELRAY BEACH, Fla.--(BUSINESS WIRE)--July 27, 2001

Just in time for back-to-school shopping and thanks to Florida legislation; parents, teachers and children can save more on school supplies as "tax-free" shopping begins this weekend. For the first time in Florida, beginning Saturday, July 28 through Sunday, August 5, customers have the chance to purchase select school supplies without paying the state mandated sales tax of six percent. During this period, Office Depot, Inc. (NYSE:ODP), the world's largest seller of office products and supplies, announced that at its 85 retail stores in Florida, customers may purchase qualifying school supplies tax-free.

Under the Florida legislation, tax-free school supplies at Office Depot stores include: calculators, cellophane tape, compasses, composition books, crayons, erasers, glue or paste, legal pads, notebooks, notebook filler paper, pencils, pens, poster paper, protractors, rulers, and scissors that have a selling price of $10 or less.

Office Depot's Jerry Colley, President of North American Retail Stores, said, "We commend Florida legislators for expanding the legislation to include school supplies. Also, we encourage our customers to take full advantage of the tax break and our `Free Supplies For Your School' program that benefits their children's schools."

All retail stores feature signage and flyers for customers detailing the school supply products that are included under this "tax holiday" legislation.

In addition to saving money, customers can take advantage of the Company's "Free Supplies for Your School" program. Underscoring its corporate commitment to "Taking Care of Kids," each of the Company's Florida stores will credit five percent of certain school supply product purchases toward designated schools.

Here is how the Office Depot "Free Supplies for Your School" program works:

-- Customers shopping at their local Office Depot store for school supplies now
through September 30, 2001 for grades K-12 simply select their School ID Number
upon checking out which will ensure that their qualifying purchases are
credited to the school of their choice. School ID Number's can be found through
special kiosks located in Office Depot stores.

-- Office Depot will track and total all qualifying in-store purchases now
through September 30th. In November, once total qualifying credits are tallied,
schools will receive a supply credit equal to 5% of your school's qualifying
school supply purchases, which may be redeemed for thousands of products.
Sorry, computers, digital assistants (PDA's), associated technology and
furniture items are not included in this program. Please see your local Office
Depot store for a complete list of qualifying products.

-- Credits are valid for redemption by schools all the way through May 31,
2002. Participation in the "Free Supplies for Your School" program is limited
to schools which generate a credit of $10.00 or more during the program dates
and any uncollected funds will be retained by Office Depot.

About Office Depot

As of June 30, 2001, Office Depot operated 829 office supply superstores in the United States and Canada, in addition to a national business-to-business delivery network supported by 25 delivery centers, more than 60 local sales offices and eight regional call centers. Furthermore, the Company had operations in 16 countries outside of the United States and Canada, including 27 office supply stores in France and seven in Japan that are owned and operated by the Company; and 98 additional office supply stores under joint venture and licensing agreements operating under the Office Depot(R) name in five foreign countries. The Company also operates an award-winning U.S. Office Depot(R) brand Web site at http://www.officedepot.com where customers can access Office Depot's low competitive prices seven days a week, twenty-four hours a day, and it operates www.officedepot.co.jp in Japan and www.officedepot.fr in France as well as Viking(R) brand Web sites at www.vikingop.com in the United States, www.viking-direct.co.uk in the United Kingdom, www.viking.de in Germany, www.vikingdirect.nl in The Netherlands, www.vikingop.it in Italy, www.vikingop.com.au in Australia, www.vikingop.co.jp in Japan and www.vikingdirect.fr in France. 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 is an Official Sponsor of the 2002 U.S. Olympic Team.