Best Buy Announces Electronics Recycling Program

Company is First in Industry With Plan to "Complete the Loop''

Press Release 19apr01

MINNEAPOLIS--(BUSINESS WIRE)-- Best Buy, the nation's number one specialty retailer of consumer electronics, today announced plans to rollout a program that will allow consumers to recycle old electronic items at Best Buy stores. This marks the first time that a consumer electronics retailer has committed to providing its customers with electronics recycling opportunities nationally.

Mike Linton, Best Buy Senior VP of Strategic Marketing, announced the Best Buy recycling program at a luncheon of the Fourth Electronics Product Recovery and Recycling (EPR2) Conference in Arlington, Virginia. The annual EPR2 Conference convenes leaders from government agencies, academia, nonprofit organizations, electronics manufacturers and recycling companies to exchange information about the latest developments in the recycling industry. The goal of the conference is to increase environmentally and economically responsible management of electronic products.

``We're all in this together, because completing the recycling loop is everyone's responsibility,'' said Linton. ``This is a topic of great importance to Best Buy customers. That's why we're responding with a simple, fun and convenient way to recycle obsolete electronic items with a system that protects the environment at the same time.''

The Best Buy recycling program allows consumers to drop off old and unwanted computers, monitors, televisions, VCR's and other electronic items at specific Best Buy stores during special collection weekends. A handling fee will be charged for each discarded item. Recycling companies will be contracted by Best Buy to carry out the recycling services. Best Buy will launch the program in selected states this summer and plans to expand into additional Best Buy communities over the next several years. Best Buy will also provide consumers with educational information about energy conservation practices, environmental issues and other recycling opportunities in their area.

Currently, Best Buy is securing manufacturing, recycling and governmental partnerships. Together, they will establish a program that ensures an easy and accessible recycling experience for the public while effectively meeting all local, state and federal regulations and requirements. Best Buy has arranged for e4 Partners, a Minneapolis-based environmental strategy firm, to plan and coordinate the recycling events. Panasonic, which recently received a third consecutive ENERGY STAR® Partner of the Year award from the U.S. Environmental Protection Agency and U.S. Department of Energy, is the first manufacturer and Best Buy vendor to commit financial support to the initiative.

The proper disposal of electronic items is an issue of growing significance in America. Getting rid of electronic products in an environmentally friendly manner can be difficult and expensive. Hazardous materials found in computers and televisions, such as mercury, lead and cadmium, make it a problem to just throw the products in the trash. Many schools and charitable organizations have restrictions on accepting donated equipment that cannot run current software. People wanting to get rid of these items and remain environmentally responsible are often confused or unsure about what to do. As the nation's leading consumer electronics retailer, Best Buy is committed to helping find innovative, smart solutions for its customers who use technology to make their time more enjoyable and productive.

The impetus for the Best Buy electronics recycling program was the success of a test event conducted last fall at one of the Company's Minnesota stores. Best Buy and a recycling company worked with local government agencies and a waste management company on the pilot, which resulted in a two-day collection of 22 tons of old equipment, enough to fill two semi-truck trailers.

Best Buy has a long-standing policy of recycling waste and other recyclables at all store locations nationwide. Best Buy works with a waste management company and complies with all city and state requirements to recycle materials such as cardboard, aluminum, plastic, glass and paper.

Minneapolis-based Best Buy Co., Inc. (NYSE:BBY - news) is the nation's number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The Enterprise operates retail stores and commercial Web sites under the names: Best Buy, (BestBuy.com), Magnolia Hi-Fi, Media Play (MediaPlay.com), On Cue (OnCue.com), Sam Goody (SamGoody.com) and Suncoast (Suncoast.com). The Company reaches consumers through more than 1,800 retail stores nationwide, in Puerto Rico and in the U.S. Virgin Islands.

     Best Buy Co., Inc., Minneapolis
     Jim McManus, (952) 996-4131
     Jim.McManus@BestBuy.com
     or
     e4 Partners
     Tricia Conroy, (612) 278-7140
     tricia@e4partners.com