Best Buy Children's Foundation Announces New Board Member; John Thompson, Best Buy Sr. VP of Supply Chain and Business Systems.

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--Nov. 19, 2001

The Board of Directors for the Best Buy Children's Foundation (BBCF) has unanimously approved the appointment of John R. Thompson, Best Buy Senior Vice President of Supply Chain and Business Systems, as the newest foundation trustee.

"I am very pleased to welcome John Thompson to the Foundation," said Susan Hoff, president of the Best Buy Children's Foundation. "His wealth of general management experience, extensive business expertise and involvement in corporate philanthropy will add significant value to our efforts of strengthening the lives of children and their families."

Thompson came to Best Buy in July 2001 from Liz Claiborne, Inc., where he was senior vice president of service, systems and logistics. Thompson also served on the company's executive council and was a member of the Board of Directors of the Liz Claiborne Foundation. Thompson began his career with General Electric where he worked in the company's information services division for 15 years, holding positions in marketing, logistics, finance and operations. A graduate of Mercy College, Thompson is originally from Washington D.C.

Thompson will begin his official term at the next BBCF Board meeting, scheduled for December 11.

About Best Buy Children's Foundation

The Best Buy Children's Foundation (BCF) awards grants to nonprofit groups that take an innovative approach to building "life skills" in young people through education, mentoring and leadership development. The BBCF donates proceeds from its "Charity Classic" pro-am golf tournament and other fundraising activities, as well as financial contributions from Best Buy Co., Inc. The BBCF Board of Directors reviews applications and awards grants on a quarterly basis. The BBCF awarded $1.8 million dollars to more than 240 youth programs last fiscal year.

About Best Buy

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), Future Shop (FutureShop.ca); Magnolia Hi-Fi (MagnoliaHiFi.com), Media Play (MediaPlay.com), On Cue (OnCue.com), Sam Goody (SamGoody.com), and Suncoast (Suncoast.com). The Company reaches consumers through more than 1,800 retail stores in the U.S., Canada, Puerto Rico and the U.S. Virgin Islands.