Best Buy Signs Lease for New Store in Blossom Hill, California.

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--June 27, 2001

Best Buy Co., Inc. (NYSE:BBY) the nation's leading specialty retailer of consumer electronics, personal computers, appliances and entertainment software announced the lease signing of a new store in Blossom Hill, Calif. The new store is scheduled to open fall 2001 and will be located 5065 Almaden Expressway. The store will be one of eight stores Best Buy will open in California this year.

"Best Buy plans to turn on the fun for Blossom Hill-area shoppers by showing consumers how technology can improve their lives," said Pat Matre, Best Buy vice president of Real Estate. "We look forward to providing the area with affordable, high-tech consumer electronics and entertainment products in a shopping atmosphere that is easy to navigate and fun."

The 45,000 square foot store will feature a broad selection of name-brand products. Customers can experience many products, including the latest in digital technology, through hands-on displays. For easy shopping, merchandise will be grouped in departments such as Home Theater, Digital Imaging, and Wireless. The Blossom Hill store is one of more than 60 new retail locations Best Buy will open throughout the country in 2001.

The store will employ approximately 150 full- and part-time employees in cashier, customer service, non-commissioned sales and management positions.

Minneapolis-based Best Buy Co., Inc. (NYSE:BBY) is the nation'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, 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 nationwide, in Puerto Rico and in the U.S. Virgin Islands.