Cabela's in Negotiations to Bring New Hunting, Fishing and Outdoor Gear Store to Wheat Ridge, Colorado.

SIDNEY, Neb. -- Cabela's Incorporated (NYSE: CAB), the World's Foremost Outfitter of hunting, fishing and outdoor gear, announced today it is in negotiations with Coors Brewing Company to build a massive 200,000-square-foot store in Wheat Ridge, Colorado, and plans to have it open for business by mid-2006.

The store, to be built as part of a development along I-70, would be similar in size to the Cabela's retail showrooms in Dundee, Michigan and Kansas City, Kansas. The newest Cabela's store, a 176,000-square-foot facility in Wheeling, W.Va., opened August 12.

The Colorado store will be built in Cabela's trademark style that evokes the feeling of the outdoors. Cabela's stores are known as top-notch educational and entertainment attractions, mixing a decor of museum-quality animal displays with colorful dioramas, huge aquariums stocked with native fish and a centerpiece indoor mountain displaying trophy animals interacting in realistic re-creations of their natural habitats.

To operate the new store, Cabela's expects to employ as many as 450 people who will join the Cabela's family of more than 8,000 employees. Employees are expected to come from Wheat Ridge and the surrounding area to join Cabela's family of staff members famous for their outdoor lifestyle and intimate knowledge of outdoor products.

"Colorado is the epitome of the Cabela's brand, and its residents and visitors live the Cabela's lifestyle," said Cabela's President and Chief Executive Officer Dennis Highby. "Cabela's Wheat Ridge store will become a destination for outdoor enthusiasts and their families traveling to and from the Rocky Mountains. Our stores are a way of bringing the total Cabela's experience to our customers."

"And," Highby said, "we know with the many hard-working residents of the area we will be able to find great employees who are as passionate about the outdoors as we are. That's something we consider whenever we look for a new store location."

"We already feel very welcome in Colorado because so many people came together to make this work," Highby said. "I especially want to thank Governor Owens for his personal involvement in bringing the parties together."

Features that will greet visitors to the Cabela's store include:

--A towering mountain replica, the centerpiece of the store's open showroom, with running waterfalls and streams, a trout pond and trophy animals in re-creations of their distinct habitats. Similar mountains, each called Conservation Mountain, have been built in other Cabela's stores as monuments to wildlife and salutes to the sportsmen and women who support wildlife conservation.

--Walk-through, freshwater aquarium stocked with fish native to the area.

--Museum-quality representations of many wild-game species, including an expansive diorama devoted to African game animals.

--A deli-style restaurant will feature delicious wild-game sandwiches, as well as tamer fare.

--World-class Gun Library, providing gun collectors and aficionados the opportunity to browse through a collection of examples of the gun-making art.

--Full-service fly-fishing shop, much like a store within a store, with the products - and helpful, experienced staff - for all fly-casters from novice to expert.

--Shooting gallery, providing fun along with the opportunity to learn basic shooting skills in a safe environment.

--Indoor archery range where archers can test and fine-tune their equipment.

--Bargain Cave, featuring discount prices on returned and discontinued merchandise.

About Cabela's Incorporated

Cabela's Incorporated, headquartered in Sidney, Nebraska, is the nation's largest direct marketer, and a leading specialty retailer, of hunting, fishing, camping and related outdoor merchandise. Since the company's founding in 1961, Cabela's has grown to become one of the most well-known outdoor recreation brands in the United States, and has long been recognized as the World's Foremost Outfitter(R). Through Cabela's established direct business and its growing number of destination retail stores, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela's operates as an integrated multi-channel retailer, offering its customers a seamless shopping experience through its catalogs, website and destination retail stores. Cabela's also issues the Cabela's Club(R) VISA credit card through which it offers a related customer loyalty rewards program as a vehicle for strengthening its customer relationships.

CAUTIONARY STATEMENT FOR THE PURPOSE OF THE SAFE HARBOR PROVISIONS UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release (other than historical information) contains "forward-looking statements" that are based on the Company's beliefs, assumptions and expectations of future events, taking into account the information currently available to the Company. Forward-looking statements involve risks and uncertainties that may cause the Company's actual results, performance or financial condition to differ materially from the expectations of future results, performance or financial condition that the Company expresses or implies in any forward-looking statements. These risks and uncertainties include, but are not limited to: the ability to negotiate favorable lease and economic development arrangements; expansion into new markets; market saturation due to new destination retail store openings; the rate of growth of general and administrative expenses associated with building a strengthened corporate infrastructure to support the Company's growth initiatives; increasing competition in the outdoor segment of the sporting goods industry; the cost of the Company's products; supply and delivery interruptions; adverse weather conditions; fluctuations in operating results; adverse economic conditions; increased fuel prices; labor shortages or increased labor costs; changes in consumer preferences and demographic trends; increased government regulation; inadequate protection of the Company's intellectual property; other factors that the Company may not have currently identified or quantified; and other risks, relevant factors and uncertainties identified in the Company's final prospectus relating to its initial public offering. The words "believe," "may," "should," "anticipate," "estimate," "expect," "intend," "objective," "seek," "plan," "will" and similar statements are intended to identify forward-looking statements. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. The Company's forward-looking statements speak only as of the date they are made. Other than as required by law, the Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.