Best Buy Announces Plans for New Store Locations in New York Market.

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--April 22, 2002

Get ready, Chelsea, Brooklyn, Commack, Holmdel, Huntington Station, Riverhead, Mt. Vernon, Brick, East Brunswick and Bridgewater, Best Buy is moving in at the intersection of technology and life. Best Buy Co., Inc. (NYSE:BBY), North America's leading specialty retailer of digital and entertainment products, announced plans for 10 new stores. With the addition of these 10 stores, Best Buy will add more than 400,000 square feet in retail space in New York and New Jersey. The stores, scheduled to open within the next two years, will be located at:

-- Chelsea, New York at 60 West 23rd St. (opening summer 2002)

-- Brooklyn, New York at Ceasar's Bay Shopping Center at Bay Street and Belt
Pkwy. (opening fall 2002)

-- Commack, New York at Route 25 and the Jerrico Turnpike adjacent to the
Huntington Square Mall (opening summer 2002)

-- Holmdel, New Jersey at 2130 State Route 35 (opening summer 2002)

-- Huntington Station, New York at Route 110 next to the Walt Whitman Mall
(opening early 2003)

-- Riverhead (Long Island) New York at Old Country and Mill Road (opening late
2003)

-- Mt. Vernon, New York at East Sanford Blvd. and Belford Ave. (opening in late
2003)

-- Brick, New Jersey at Route 70 and Chambers Bridge Road (opening fall 2002)

-- East Brunswick, New Jersey at the Mid State Mall Route 18 and Prospect St.
(opening fall 2002)

-- Bridgewater, New Jersey at 300 Commons Way (opening summer 2002)

Best Buy expansion plans are for a total of 35 stores in New York and New Jersey to fill in the market. Currently the company operates 19 stores open in the market and will add seven stores this year with an additional three stores planned for 2003. Additional sites are planned for 2004. Expansion plans include additional Manhattan stores. Future sites have not yet been identified.

"We are committed to expanding our presence throughout New York and New Jersey. The new stores will provide consumers the ultimate techno-tainment shopping experience," said Pat Matre, Best Buy vice president of Real Estate. "We look forward to providing the community with affordable, high-tech consumer electronics and entertainment products that make life easier and more fun."

Best Buy's interactive displays and broad selection of name brand electronic products, including the latest in digital technology, allows customers to "turn on the fun" while they shop. To make shopping even easier, merchandise is grouped in departments that reflect how consumers use technology in their life such as Home Theater, Digital Imaging and Wireless Communication.

Best Buy currently operates 492 stores in the U. S. The company is scheduled to open 60 new stores this year and is on track to have approximately 600 stores nationwide by 2004. Each store will employ approximately 90 to 125 full- and part-time employees in cashier, customer service, non-commissioned sales and management positions. For a complete listing of store locations, visit the store locator on Best Buy's Web site at www.bestbuy.com.

Minneapolis-based Best Buy Co., Inc. (NYSE:BBY) is North America's number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The Company operates retail stores and commercial Web sites under the names: Best Buy, (BestBuy.com), Magnolia Hi-Fi (MagnoliaHiFi.com), Future Shop (FutureShop.ca), Media Play (MediaPlay.com), On Cue (OnCue.com), Sam Goody (SamGoody.com) and Suncoast (Suncoast.com). The Company reaches consumers through more than 1,900 retail stores nationwide in Puerto Rico and in the U.S. Virgin Islands.