Circuit City, Chase to Launch Rewards Credit Card; Instant Credit Available to Consumers at more than 600 Circuit City Stores Nationwide

Business Wire, Oct 5, 2004

RICHMOND, Va. -- Today, Circuit City Stores, Inc. (NYSE:CC) and Chase (NYSE:JPM) introduced the new Circuit City Rewards Visa(R) Card, which gives shoppers an opportunity to earn rewards towards Circuit City purchases.

Cardmembers will earn reward points totaling five percent on all card purchases made at any Circuit City store or online at circuitcity.com, excluding items purchased with special financing offers or gift card purchases. In addition, cardmembers will earn one percent on card purchases made anywhere else Visa credit cards are accepted.

Rewards points will be automatically credited to cardmembers' accounts, giving cardmembers the flexibility to choose to redeem their rewards with as few as 500 points, which is valued as a $5 reward certificate, or save them for future purchases at Circuit City. Soon, cardmembers may view reward point balances and redeem points at circuitcityrewards.com or by calling 800-603-8987.

"The Circuit City Rewards Visa Card is a great way to create a rewards program that is loyal to our customers," said W. Alan McCollough, chairman, president and chief executive officer of Circuit City. "One of the key benefits of this program is that it offers Circuit City customers a choice when making purchases at our stores. They can opt to earn rewards for their purchases or take advantage of special promotional financing we offer on products."

In addition, consumers may apply for the card and receive instant credit in Circuit City stores nationwide.

"Circuit City customers now have a choice to earn and redeem rewards or take advantage of no interest promotional offers at one of America's leading electronics retailers," said Daniel P. Tierney, senior director at JPMorgan Chase & Co.'s card services' division. "With the Circuit City Rewards Visa Card, consumers can take advantage of the rewards program and redeem their points for great merchandise."

The Circuit City Rewards Visa Card also features a competitive interest rate and no annual fee. Customers who do not qualify for a Circuit City Rewards Visa card may qualify for a Circuit City private-label card, which offers the same rewards program.

Circuit City stores will continue to accept existing Circuit City cards and Circuit City Plus Visa cards.Eligible consumers can choose to upgrade their existing Circuit City Plus Visa card to a Circuit City Rewards Visa Card or the Circuit City Rewards Card by visiting any Circuit City location.

About Circuit City Stores, Inc.

Richmond, Va.-based Circuit City Stores is a leading specialty retailer of consumer electronics. Circuit City operates 613 Superstores and five mall-based stores in 159 U.S. markets. Its International segment operates through more than 1,000 retail stores and dealer outlets in Canada. Circuit City also operates a Web site at http://www.circuitcity.com.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE:JPM) is a leading global financial services firm with assets of $1.1 trillion and operations in more than 50 countries. The company has approximately 96 million credit cards issued. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com.

(R) Visa and the Visa logo are registered trademarks of Visa U.S.A.