Business Services Industry

Best Buy Teams with Lundgren Bros. to Make Home Networking Easy

Business Wire, Jan 20, 2003

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--Jan. 20, 2003

Top Twin Cities Builder will showcase Best Buy's Networked

Home Solutions(TM) In Parade of Homes Spring Preview(SM)

Best Buy (NYSE:BBY) and Lundgren Bros. today announced an agreement to provide Best Buy's Networked Home Solutions, an assortment of home networking packages constructed to fit peoples' changing lifestyles, in several Lundgren Bros. communities throughout the Twin Cities. Beginning this month, a base structured wiring network that allows for maximum versatility with home technology will be standard in more than 500 homes in Dakota, Hennepin and Carver counties. In addition, Networked Home Solutions will be featured in three Lundgren Bros. homes on the Parade of Homes Spring Preview(SM).

Many new homebuyers are interested in home networking, but lack the knowledge or resources to incorporate the technology into their home - that's why Best Buy created Networked Home Solutions. Networked Home Solutions packages enable Best Buy to align with the builder to make sure the homeowner has all of the behind-the-scenes wiring needed to quickly, neatly and easily connect the technology within their home. Networked Home Solutions offers two distinct packages:

-- Lifestyle Series packages that target specific entertainment enthusiasts (available packages called Music Lover, Movie Buff, Computer Whiz and Ultimate Entertainment Enthusiast).

-- Foundation Series packages that allow consumers flexibility to create a solution specific to their needs and ensure new homes are wired for the technology and entertainment people use every day.

"Teaming with Lundgren Bros. gives our Networked Home Solutions packages exposure with people who are looking to optimize entertainment options in their homes," said Sean Skelley, vice president of Strategic Planning and Business Development for Best Buy. "By delivering benefits that are simple to use and easy to understand, Networked Home Solutions provides Lundgren Bros.' homebuyers the opportunity to enhance the products and services they currently own."

A member of the Lennar Family of Builders, Lundgren Bros. has built award-winning homes in the Twin Cities' most desirable communities since 1970. Lundgren Bros. has won several awards for excellence in design and construction, including a Grand Award from the National Association of Home Builders (NAHB) and Professional Builder and Remodeler magazine.

"Our partnership with Best Buy translates to a big advantage to our homebuyers," said Peter Beucke, AIA, vice-president of Sales, Marketing and Architecture for Lundgren Bros. Homes. "Best Buy's Networked Home Solutions make it easy to choose a state-of-the-art system for both the novice and the techno-savvy homebuyer."

Lundgren Bros. Homes featuring Best Buy's Networked Home Solutions will be featured in the following Twin Cities-area communities: Glendalough (Rosemount); Trevar (Lakeville); Stonecliffe (Eagan); Cascades (Plymouth); Prairie Lakes (Lakeville); and Vasserman Ridge (Chanhassen).

To learn more about Networked Home Solutions, visit Lundgren Bros. models on the Parade of Homes Spring Preview(SM) and experience the benefits of home networking technology. The Parade models at Glendalough will also demonstrate the features of the new iCEBOX, an all-in-one entertainment center for the kitchen. Features include television, DVD/Audio CD player, broadband Internet access, FM radio, home video monitoring, washable keyboard and remote and a touch screen LCD monitor with stylus.

The "Parade of Homes Spring Preview(SM)" Servicemark and Logo are Servicemarks of the Builders Association of the Twin Cities and are used with permission.

About Best Buy Stores LP

Best Buy Stores LP, owned and operated by Minneapolis-based Best Buy Co., Inc., is one of the nation's leading specialty retailers of technology and entertainment products and services. Best Buy was founded in St. Paul, Minn. in 1966. Best Buy Stores reach an estimated 300 million consumers per year through more than 500 retail stores in 48 states and online at BestBuy.com. For more information about Best Buy, visit the virtual pressroom at http://onlinepressroom.net/bestbuy.> About Best Buy Co., Inc.

Minneapolis-based Best Buy Co., Inc. (NYSE:BBY) is one of North America's leading specialty retailers 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), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com), Magnolia Hi-Fi (MagnoliaHiFi.com), Media Play (MediaPlay.com), Sam Goody (SamGoody.com), and Suncoast (Suncoast.com). The Company reaches consumers through nearly 1,900 retail stores in the U.S., Canada, Puerto Rico and the U.S. Virgin Islands.