Best Buy Eliminates Nearly All Computer-Related Mail-In Rebates

Company Responds to Customer Requests by Removing More Than 65 Percent of All Rebates

Just one year after announcing plans to improve customer experiences by eliminating mail-in rebates, Best Buy reached another milestone this month by eliminating nearly all mail-in rebates on computers and computer-related merchandise. Customers purchasing desktop computers, monitors, most printers and most computer accessories now will benefit from instant savings, rather than having to wait for rebates via mail. The company previously announced instant savings available on notebook computers in January.

“Our customers tell us that they appreciate rebate savings, but hate the paperwork and the wait. We’ve listened. Now, we’ve eliminated more than 65 percent of the mail-in rebates we had a year ago – a big step for Best Buy and the retail industry,” said Ron Boire, executive vice president and global merchandise manager, Best Buy. “Most important, our customers have noticed the changes. They have told us they’re happier with their shopping experiences and much more likely to return to our stores to shop.”

Best Buy originally revealed a two-year plan to phase out mail-in rebates (consistent with the company’s transformation to a customer-centric business model) during a conference call with investors in April 2005. The company continues to work toward eliminating all mail-in rebates by April 2007.

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 more than 930 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 (BestBuy.com and BestBuy.ca), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com and GeekSquad.ca) and Magnolia Audio Video (Magnoliaav.com). We support our communities through employee volunteerism and grants from The Best Buy Children’s Foundation.