Best Buy Commits $21.6 Million to Fueling Innovation in Education and Meeting Needs of U.S. Communities.

MINNEAPOLIS -- Best Buy Increases U.S. Giving by 13.7 Percent Over Prior Year; Enhanced Employee Volunteer Program Expected to Boost Community Involvement

Best Buy plans to infuse more than $21.6 million into communities during its current fiscal year, an increase of 13.7 percent over the prior year's total of $19 million. In addition, the company hopes to increase employee volunteerism by 500 percent over the previous year's 30,000 hours of volunteer time by offering $1,000 grants to non-profit organizations for which any employee or group of employees volunteers a predetermined number of hours.

"We value the opportunities we have to help strengthen the communities in which we work and live," said Paula Prahl, vice president of public affairs for Best Buy. "Best Buy's $21.6 million commitment augments more than 30,000 volunteer hours our employees provide to their communities, ultimately fueling innovation in education and meeting community needs in challenging times. For example, in May, more than 100 Best Buy employees descended upon the Seattle Boys and Girls Clubs to outfit them with new, interactive technology hardware and software - and then taught them how to use it."

During the next fiscal year, Best Buy plans to bolster its focus on kids, technology and learning by strengthening existing programs, including:

--Te@ch: Up to $3.5 million dedicated to teachers and schools innovatively using interactive technology in classrooms; the amount of the commitment is an increase of more than 15 percent over the previous year.

--Scholarships: More than $2 million in college scholarships to 1,300 graduating high school seniors with solid grades and exemplary community service.

--Toys for Teens: Hundreds of thousands of dollars and product gifts from Best Buy and Best Buy customers.

Fiscal 2005 Giving Wrap-Up

During its 2005 fiscal year (ended Feb. 26, 2005), Best Buy contributed a record $19 million and 30,000 hours of community service to its communities. The company granted more than $245,000 to non-profit organizations for which employees volunteered. On top of their gifts of time, Best Buy employees in the United States donated more than $4 million to the United Way.

In addition, customer generosity overwhelmed Best Buy-supported organizations in fiscal 2005. During the company's annual Toys for Teens drive during the holiday season, customers donated approximately 150,000 gifts and more than $250,000 to the Marine Corps' Toys for Tots Foundation for teenagers in need. The company plans to support Toys for Teens in stores again during the 2005 holiday season.

In response to the Dec. 26 tsunami, Best Buy matched in-store customer donations to the Red Cross - the result was nearly $2.5 million donated to the American and Canadian Red Cross. "Our employees and customers jump at the chance to give back to their communities; it is our job to make it easy for them," added Prahl. "Students from Sandburg Middle School in Coon Rapids, Minn., brought in more than $27,200 following the tsunami, and because we matched their donation, their $27,000 turned into $54,000. And, following the last year's disastrous hurricane season in Florida, employees donned their blue shirts and joined forces to rebuild playgrounds, sort clothing and even organize freezers for non-profits serving food in the time of need while their own store was being repaired."

To supplement the programs listed above, Best Buy donated to several other organizations and causes, directly and through the Best Buy Children's Foundation. Some of the efforts included:

--American Film Institute -- $250,000 toward AFI's Screen Education program which provides teachers and students with filmmakers' tools to demonstrate their understanding of school subjects.

--Ball State University: $750,000 in support of their Electronic Field Trip series, which gives students of all ages access to remote venues and national experts without ever leaving their classrooms.

--MOUSE: $220,000 for programs that teach students of all ages about technology and create student-driven tech-support programs for their schools.

--Junior Achievement: $1.3 million toward JA Titan, a nationally recognized online business simulation for high school students helping them simulate competitive scenarios involving product pricing, production levels, marketing expenses, research and development costs and capital investments.

--National Parks Foundation: $250,000 toward the Web Rangers program, which exposes millions of kids to national parks they may never have the opportunity to visit.

--Minnesota giving: $4.5 million committed to several organizations located in cities near Best Buy's corporate headquarters in Richfield, Minn.

Best Buy's Canadian operations donated an additional $450,000 (CDN) to communities where they do business primarily through the Boys and Girls Clubs of Canada and Big Brothers and Big Sisters of Canada.

How to Apply for Funding

--Te@ch Awards: Applications available July 5, 2005; Applications due Sept. 30, 2005

--Scholarships: Applications available Jan. 6, 2006; Applications due Feb. 15, 2006

--Minneapolis/St. Paul-area organizations: Application deadlines are Feb. 1, May 1, Aug. 1 and Nov. 1 of each year; Capital funding requests are due on Feb. 1 of each year

Please see www.BestBuy.com/CommunityRelations for more details.

About Best Buy's Community Commitment

As a community partner, Best Buy works to encourage ideas and to confront challenges. Through its many philanthropic activities, Best Buy extends its support in times of celebration and in times of need. Last year Best Buy and the Best Buy Children's Foundation donated $19 million to its communities (approximately 1.5 percent of its prior fiscal year's pretax earnings). The company encourages local volunteerism by providing charitable gifts to organizations where employees volunteer, awards annual scholarships to graduating high-school seniors, and supports schools using technology to enhance learning through the Best Buy te@ch program. Through the Best Buy Children's Foundation, the company also connects with the United Way to meet local community needs, works with the Red Cross to provide support in times of disaster, and supports national organizations innovatively using technology in youth education. In addition, Best Buy is committed to environmental responsibility. Last year, the company collected and recycled nearly 1 million pounds of used and obsolete electronic items though special mass collection events and everyday collection of cellular phones, ink jet cartridges and rechargeable batteries. For more information about Best Buy's community relations efforts, visit www.BestBuy.com/CommunityRelations.

About Best Buy Co., Inc.

Best Buy Co., Inc. (NYSE:BBY) is an innovative Fortune 100 growth company that continually strives to create superior customer experiences. Through nearly 850 retail stores across the United States and in Canada, our employees connect customers with technology and entertainment products and services that make life easier and more fun. We sell consumer electronics, home-office products, entertainment software, appliances and related services. A Minneapolis-based company, our operations include: Best Buy, Future Shop, Geek Squad and Magnolia Audio Video. We support our communities through employee volunteerism and grants from the Best Buy Children's Foundation.