Office Depot Announces Irwin Helford's Retirement From the Company's Board of Directors

Business Wire, March 1, 2002

Business Editors

DELRAY BEACH, Fla.--(BUSINESS WIRE)--March 1, 2002

OFFICE DEPOT, INC. (NYSE:ODP), the world's largest seller of office products, today announced that Irwin Helford, Chairman Emeritus of Viking Office Products and Vice Chairman of Office Depot, has made the decision to fully retire from his active involvement at Viking and not seek re-election to the Company's Board of Directors. While his retirement from day-to-day activities will be effective March 1, 2002, he will continue to serve as a Board member until the Company's Annual Shareholders' Meeting on April 25, 2002.

Bruce Nelson, Chairman and CEO of Office Depot, said: "Words simply cannot express the enormous positive impact Irwin Helford has had on the office products industry, our company, and the many employees he has touched with wisdom, kindness and generosity. Irwin's vision, leadership and focus on "FANATICAL" customer service are legendary. His emphasis on people, whether employees, customers or suppliers, is equally legendary. Irwin's decision to step down from his roles at Viking and Office Depot is based on his desire to have more time with his family, and he plans to devote more time and energy to helping the Parkinson's Foundation find a cure for Parkinson's disease. We will truly miss Irwin's day-to-day involvement with Viking and his important leadership role on our Board. While we are saddened by his decision, we share in the joy of his accomplishments and success; and wish him a long, fulfilling and well deserved retirement."

About Office Depot

No one sells more office products to more customers in more countries through more channels than Office Depot. As the largest seller of office products around the world, the Company operates under the Office Depot(R), Viking Office Products(R), Viking Direct(R) and 4Sure.com(R) brand names. As of December 29, 2001, Office Depot operated 859 office supply superstores in the United States and Canada, in addition to a national business-to-business delivery network supported by 24 delivery centers, more than 60 local sales offices and 12 regional call centers. Furthermore, the Company sells products and services in 16 countries outside of the United States and Canada, including 30 office supply stores in France and nine in Japan that are owned and operated by the Company; and 104 additional office supply stores under joint venture and licensing agreements operating under the Office Depot(R) name in five foreign countries.

The Company also operates an award-winning U.S. Office Depot brand Web site at http://www.officedepot.com where customers can access Office Depot's low competitive prices seven days a week, twenty-four hours a day. The Company also operates fourteen other Web sites, under the Office Depot and Viking Office Products names, in the U.S. and nine international countries including: Austria, Australia, France, Japan, Germany, Ireland, Italy, The Netherlands and the United Kingdom.

Office Depot's common stock is traded on the New York Stock Exchange under the symbol ODP and is included in the S&P 500 Index.