Founder and Chairman of Best Buy Voted into the 2007 CE Hall of Fame

Business Wire, Sept 4, 2007

Richard "Dick" Schulze, Minnesota Retailer to Receive Award

ARLINGTON, Va. -- Richard "Dick" Schulze, who was born and raised in St. Paul, Minnesota and founded the consumer electronics retail store Best Buy, has been named to the Consumer Electronics Industry Hall of Fame. The Consumer Electronics Association (CEA[R]) created the CE Hall of Fame in 2000 to recognize the pioneers of the CE industry and has honored more then 110 industry leaders including inventors, engineers, business executives, retailers and journalists.

"We are pleased to honor Dick Schulze through election to our industry's Hall of Fame," said CEA President and CEO Gary Shapiro. "He has changed the face of retailing and made it easy for consumers to find and enjoy technology. He also is a "giver" and helped us launch CEA's first CEO Summit in 1997."

Schulze will join 10 other honorees who will be formally inducted at the association's annual awards dinner, held in conjunction with CEA's Industry Forum on October 14-17, 2007 in San Diego, California.

Best Buy began in 1966, when founder Schulze opened the first Sound of Music store, an audio components systems retailer in St. Paul. In the early 1980s, the company expanded into video products and appliances, adopting the name Best Buy in 1983. With Schulze at the helm, Best Buy pioneered a new superstore concept that placed all inventory on the sales floor and featured non-commissioned product specialists. Best Buy's goal is to improve people's lives by making technology and entertainment products fun and easy to use.

In 1991, Minnesota Governor Arne Carlson, designated November 9 as Richard M. Schulze Day. In 2000 Schulze donated $50 million to the University of St. Thomas in St. Paul, Minnesota. At the time it was the largest donation to a Minnesota college or university. He also sits on the Board of Governors of the UST School of Law in Minneapolis.

The 2007 class of the CE Hall of Fame also includes Dr. Amar Bose, founder of Bose Corp.; Paul Allen, co-founder of Microsoft; John McDonald, former president of Casio USA; Steve Sasson, the Kodak executive who developed the digital camera; retailer William Crutchfield, founder of Crutchfield Corp.; the late attorney James Edward Day, who represented the consumer electronics industry in the landmark Betamax case; the team of Karlheinz Brandenburg, Dr. Dieter Seitzer and Dr. Heinz Gerhauser who oversaw the development of the MP3 digital music format at the Fraunhofer Institute in Erlangen, Germany; and the late Art Weinberg, a journalist who reported on the industry.

For more information on the CE Hall of Fame, visit: www.CE.org/Events/Awards/348.asp

About CEA:

The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $148 billion U.S. consumer technology industry through technology policy, events, research, promotion and the fostering of business and strategic relationships. CEA represents more than 2,100 corporate members involved in the design, development, manufacturing, distribution and integration of audio, video, mobile electronics, wireless and landline communications, information technology, digital imaging, home networking, multimedia and accessory products, as well as related services that are sold through consumer channels. CEA's resources are available online at www.CE.org, the definitive source for information about the consumer electronics industry.

CEA also sponsors and manages the International CES - Where Entertainment, Technology and Business Converge. All profits from CES are reinvested into industry services, including technical training and education, industry promotion, engineering standards development, market research and legislative advocacy.

UPCOMING EVENTS

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CEA Industry Forum
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October 15-17, 2007, San Diego, CA
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Digital Hollywood Fall
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October 29-November 1, 2007, Hollywood, CA
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EHX Fall 2007
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November 6-9, 2007, Long Beach, CA
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Future of Television Forum
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November 8-9, 2007, New York, NY
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CES New York Press Preview Featuring CES Unveiled @ NY
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November 13, 2007, New York, NY
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CONNECTIONS(TM) Europe: Strategies for Digital Living Markets
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December 4-6, 2007, Berlin, Germany
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CES Unveiled: The Official Press Event of the International CES
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January 5, 2008, Las Vegas, NV
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2008 International CES
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January 7-10, 2008, Las Vegas, NV
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Digital Music Forum East
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February 26-27, 2008, New York, NY
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EHX Spring 2008
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March 11-15, 2008, Orlando, FL
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2008 PARA Conference
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March 12-14, 2008, Orlando, FL
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Digital Patriots Dinner
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April 2, 2008, Washington, DC
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CEA Washington Forum
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April 2-4, 2008, Washington, DC
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International CES/Hometech
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May 25-27, 2008, Dubai, UAE
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SINOCES 2008
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July 10-13, 2008, Qingdao, China