Best Buy Welcomes the School Year with $3 Million for Schools Using Interactive Technology in Classrooms; 1,200 Schools to Receive te@ch Awards of $2,500

Business Wire, August 23, 2004

MINNEAPOLIS -- To welcome the new school year, Best Buy is seeking applications from teachers for its second annual "te@ch" program. Te@ch (pronounced "teach") rewards schools for successfully integrating interactive technology into classrooms. The $3 million te@ch program is open to all accredited, public and private nonprofit elementary, middle and secondary schools in the U.S. located within 25 miles of a Best Buy store. Best Buy gift cards in the amount of $2,500 will be awarded to 1,200 schools to enhance existing technology-based programs.

"Across the country, teachers and students are using technology in amazing ways. Teachers have found that technology is becoming a catalyst for increased student engagement and creativity. The students' enthusiasm for learning is our motivation for rewarding schools," said Paula Prahl, vice president of public affairs for Best Buy. "Our support of programs that link children, technology and learning is one way we can strengthen our communities and more fully support our employees, our customers and their families."

The Best Buy Children's Foundation launched te@ch in 2003 and last year awarded nearly $3 million to 1,162 schools nationwide. Among the innovative award recipients were four schools from one district in Texas. Their te@ch awards helped build a listening and interactive lab for at-risk students who were learning English as a second language. Teacher Sally DeWeese explained, "In our fast-paced, technology-filled world, students feel successful and comfortable in a learning environment where they work with interactive media. When students walk into class and exhibit an eagerness and enthusiasm for learning, as they did with the te@ch projects, the program is a success." DeWeese reported that her students were so engaged in their school work that they came in early and skipped lunch in order to have more time to complete their projects. In addition to further engaging students, Best Buy's te@ch award helped the schools make progress towards the Texas school standards (TEKS) of using technology in the classroom.

Applications for te@ch can be found on www.BestBuy.com (click on the Community Relations link in the lower left hand corner of the home page and follow the links to te@ch). Applications will be reviewed and selections made on a rolling basis (first received, first reviewed). Applications must be postmarked no later than Oct. 1, 2004, to be considered for this round of te@ch awards. Two copies of completed applications must be mailed to:

te@ch
C/o The Best Buy Children's Foundation
P.O. Box 9448
Minneapolis, MN 55440-9448

Winners will be notified and awards will be posted mid-January 2005 on the Community Relations page of www.BestBuy.com.

About The Best Buy Children's Foundation

The Best Buy Children's Foundation, established in 1994, is committed to making learning fun through the funding of innovative, interactive and technology-based programs that engage and educate K-12 students. The Foundation provides grants to national nonprofit organizations with technology-related programs and directly to Best Buy communities. The Foundation is a nonprofit corporation organized and operated exclusively for charitable, educational, literary or scientific purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and Section 290.05 of the Minn. Stat. Best Buy Co., Inc. (NYSE:BBY), the primary contributor to the Foundation, is North America's leading specialty retailer of consumer electronics, personal computers, entertainment software and appliances. Best Buy Co., Inc. donates up to 1.5 percent of its annual pretax earnings to the communities in which it does business.

About Best Buy Co., Inc.

Best Buy Co., Inc. (NYSE:BBY) is a Fortune 100(R) growth company that continually innovates to create superior customer experiences. Through more than 750 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), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com) and Magnolia Audio Video (Magnoliaav.com). We support our communities through employee volunteerism and grants from The Best Buy Children's Foundation.