Cabela's to Open Destination Retail Store in Boise, Idaho.

SIDNEY, Neb. -- Cabela's Incorporated (NYSE: CAB), the World's Foremost Outfitter(R) of hunting, fishing and outdoor gear, announced today it is bringing the world-famous Cabela's retail shopping experience to Cabela's loyal customers in Boise, Idaho, and the surrounding region.

Cabela's expects to open the Boise retail showroom as early as summer of 2006. The 132,000-square-foot Boise retail store, located in the Franklin Towne Plaza shopping center near the junction of I-184 and I-84 off the Franklin Road exit, would be Cabela's first in Idaho.

"We've been anticipating opening a Cabela's store in Idaho for some time now, and we're excited that we can now offer our loyal catalog and Internet customers in Idaho a Cabela's store of their own," said Cabela's President and Chief Executive Officer Dennis Highby. "We look forward to serving outdoor enthusiasts in the Intermountain West through this new location."

To operate this new store, Cabela's expects to employ as many as 200 people from the surrounding area. They will join the Cabela's family of employees who are famous for delivering excellent customer service, living the outdoor lifestyle and possessing an in-depth knowledge of outdoor gear. Product offerings would include hunting, fishing, camping, hiking, boating and wildlife watching gear, as well as outdoor clothing and outdoors-styled gifts and furnishings.

"Few names are as synonymous with the outdoors as 'Idaho' and 'Cabela's,'" said Idaho Governor Dirk Kempthorne. "With Idaho's reputation as a premier outdoor recreation destination, having a Cabela's located in our state is a winning combination. Twenty-five to thirty percent of its customers will come from out-of-state. I have no doubt the new location will soon become one of the premier tourism destinations in the Pacific Northwest."

Idaho Commerce & Labor Director Roger B. Madsen said the company will make a significant impact on the area economy because Cabela's stores traditionally draw additional businesses to the area and company officials are committed to purchasing from Idaho-based firms whenever possible.

"Cabela's ranks number one among its competitors for offering the best compensation and benefits to its full- and part-time employees," said Madsen. "More than 40 percent of the people they plan to hire will be full-time and management-level positions, and the payroll and benefits paid out are expected to reach $4.9 million during the store's first year of operation. Cabela's is truly a world-class company."

Cabela's currently has 14 retail locations nationwide. The newest, a 185,000-square-foot store in Rogers, Minn., opened Oct. 14, 2005. Cabela's also has announced plans to open stores in La Vista, Neb.; Gonzales, La.; Glendale, Ariz.; Richfield, Wis.; and Hazelwood, Mo.; in 2006; and Reno, Nev.; Wheat Ridge, Colo.; East Rutherford, N.J.; East Hartford, Conn.; and Hoffman Estates, Ill., in 2007.

The Cabela's Boise store would be outfitted 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 in realistic re-creations of their natural habitats.

Extraordinary in design and showcasing thousands of products from Cabela's world-famous catalog, the stores are known as shopping and tourism destinations, drawing customers not only from the local area, but also from hundreds of miles away. Many traveling sportsmen and women are also attracted by the familiar Cabela's script logo and the company's world-famous reputation for quality merchandise, value and extraordinary customer service.

Features of the Cabela's Boise store would include:

--A mountain replica, the centerpiece of the store's open showroom, with 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.

--A gigantic freshwater aquarium stocked with fish native to the area.

--Museum-quality representations of many wild-game species.

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

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

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

--A unique interior featuring ruggedly beautiful accents and furnishings.

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(R) 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 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

Statements in this press release that are not historical or current fact are "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. Such forward-looking statements include, but are not limited to, the Company's statements regarding the construction and anticipated opening date of a destination retail store in Boise, Idaho, and the construction and planned opening dates of destination retail stores in other locations. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from the expectations of future results 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 purchase, lease, and/or economic development arrangements for destination retail store locations; increasing competition in the outdoor segment of the sporting goods industry; supply and delivery shortages or interruptions; delays in traffic planning and/or road construction around new destination retail stores; the ability to secure required governmental permits and approvals, adverse weather conditions; adverse economic conditions; labor shortages or increased labor costs; the cost of fuel increasing; increased government regulation; other factors that the Company may not have currently identified or quantified; and other risks, relevant factors and uncertainties identified in the Company's filings with the SEC (including the information set forth in the "Factors Affecting Future Results" section of the Company's Form 10-K for the fiscal year ended January 1, 2005), which filings are available at the Company's website at www.cabelas.com and the SEC's website at www.sec.gov. 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.