If the tender offer is completed as planned, Staples expects to record a pre-tax charge of approximately $69 million during the fourth fiscal quarter of 2012 for the extinguishment of the related debt. The estimated charge assumes current market pricing and that $750 million of the Notes are tendered. The final charge will vary to the extent that the pricing and amount of Notes tendered differs from Staples’ original assumptions.

Barclays Capital Inc. and BofA Merrill Lynch are acting as dealer managers for the tender offer. The information agent and tender agent is D.F. King and Co., Inc. Copies of the Offer to Purchase, Letter of Transmittal and related tender offer materials are available by contacting D.F. King & Co., Inc. at (800) 431-9643 (toll-free) or (212) 269-5550 (collect). Questions regarding the tender offer should be directed to Barclays Capital, Inc. at (800) 438-3242 (toll-free) or (212) 528-7581 (collect) or BofA Merrill Lynch at (888) 292-0070 (toll-free) or (980) 387-3907 (collect).

This press release does not constitute an offer to sell or purchase, or the solicitation of an offer to sell or purchase, or the solicitation of tenders with respect to the Notes.

The tender offer for the Notes is only being made pursuant to the tender offer documents, including the Offer to Purchase that Staples is distributing to holders of the Notes. The tender offer is not being made to holders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the tender offer is required to be made by a licensed broker or dealer, it shall be deemed to be made by the dealer managers or any other licensed broker or dealer on behalf of Staples.

About Staples

Staples is the world’s largest office products company and second largest internet retailer. The company provides products, services and expertise in office supplies, copy & print, technology, facilities and breakroom, and furniture. Staples invented the office superstore concept in 1986 and now has annual sales of $25 billion, ranking second in the world in eCommerce sales. With 88,000 associates worldwide, Staples operates in 26 countries throughout North and South America, Europe, Asia and Australia, making it easy for businesses of all sizes and consumers. The company is headquartered outside Boston.

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