Best Buy Children's Foundation Donates Record $1.34 Million; Foundation Passes $1 Million Mark in Annual Grants for First Time.

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--March 13, 2000

Annual contributions from the Best Buy Children's Foundation (BBCF) have exceeded $1 million for the first time in the six-year history of the organization. The BBCF, which supports nonprofit programs developing "life skills" in young people, awarded $1.34 million in grants during its fiscal year that ended February 26, 2000.

"I am truly proud of the tremendous growth of this organization," said Susan Hoff, president of the Best Buy Children's Foundation. "This milestone reflects Best Buy's dedication to youth programs over the past six years. I am confident that the BBCF will continue to grow, helping even more kids develop the skills they need to be successful adults."

The BBCF passed the $1 million mark with its fiscal fourth-quarter grants, which totaled $348,580. Nearly 50 organizations in the following states shared the most recent BBCF funding:

--   Arizona                        --   Massachusetts
--   California                     --   Minnesota
--   Colorado                       --   Missouri
--   Georgia                        --   North Carolina
--   Illinois                       --   Ohio
--   Indiana                        --   Pennsylvania
--   Iowa                           --   Texas
--   Kansas                         --   Virginia
--   Maryland                       --   Wisconsin

The largest award from the last round of BBCF grants, $75,000, will expand the American Red Cross "KidCare" babysitting-training program, recently piloted in Minneapolis, to other areas of the country. The second largest grant, $50,000, will support the Camp Fire Boys and Girls national youth leadership conference in Houston, Texas, this summer.

The Best Buy Children's Foundation was created in 1994 to help improve the quality of life of school-age children in communities where Best Buy stores are located. The BBCF provides financial support to programs and organizations that offer kids opportunities in the areas of leadership, mentoring and education. Since its inception, the BBCF had given away more than $3 million to hundreds of youth programs.

The BBCF is funded primarily by the Best Buy Charity Classic, an annual pro-am golf tournament featuring LPGA players. Last year's Charity Classic in Ham Lake, Minnesota, raised $1.34 million for the BBCF, making the event the largest golf charity fundraiser in Minnesota and one of the largest golf charity fundraisers in the country. The BBCF does not have an endowment, so all money raised directly supports youth programs.

Minneapolis-based Best Buy Co., Inc. (NYSE:BBY) is the nation's largest volume specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The Company operates 357 stores in 39 states, and offers CDs, DVD movies and gift cards online at www.BestBuy.com.

Editor's Note: Call contact for more information about the youth programs in your area that receive funding from the Best Buy Children's Foundation.