More than $2.7 million – including 16 national awards of $10,000 each – will be awarded to graduating seniors who demonstrate excellence in community and school

MINNEAPOLIS, December 29 – The Best Buy Children's Foundation is proud to unveil the 2007 Best Buy Scholarship Program, which will award more than $2.7 million in scholarships to graduating high school seniors across the U.S.  Beginning December 31, 2006, online applications will be accepted at www.bestbuy.com/scholarships, and winners will be announced in early May, 2007. 

Winners will be selected based on their outstanding commitment to and involvement in community service along with a solid academic performance. 

Applicants must be currently enrolled in an accredited U.S. school, and be graduating high school seniors with plans to plan to enter a full-time undergraduate course of study at an accredited two or four-year college, university or vocation technical school in the U.S. no later than fall 2007. 

This year, the program will award a total of 1,740 scholarships, including 16 national scholarships of $10,000, each.  Two scholarship awards will be given from each of 812 Best Buy stores in the U.S. stores, at $1,500 each.  Applicants must be located within 50 miles of a BBY store to qualify for store scholarships.Additionally, 100 at-large awards, of $1,500 each, will be given to applicants who are located more than 50 miles from a Best Buy store.

Online applications will be accepted from December 31, 2006, to February 15, 2007.  Please visit www.bestbuy.com/scholarships for more information and an online application. 

About the Best Buy Community Commitment

As a community partner, Best Buy works to encourage ideas and to confront challenges. Through its many philanthropic activities, Best Buy extends its support in times of celebration and in times of need.

In fiscal 2006, Best Buy and the Best Buy Children's Foundation donated $30 million to its communities. The company encourages local volunteerism by providing charitable gifts to organizations where employees volunteer, awards annual scholarships to graduating high-school seniors, and supports schools using technology to enhance learning through the Best Buy te@ch program. Best Buy works with the Red Cross to provide support in times of disaster, including a donation of more than $2 million in fiscal 2006 for its Disaster Relief Fund. Additionally, Best Buy earmarked $8 million to help "reboot and rebuild" schools damaged, destroyed, or overcapacity after Hurricanes Katrina and Rita. The company also connects with the United Way to meet local community needs, and supports national organizations innovatively using technology in youth education. In addition, Best Buy is committed to environmental responsibility. Last year, the company collected and recycled nearly 1 million pounds of used and obsolete electronic items though special mass collection events and everyday collection of cellular phones, ink jet cartridges and rechargeable batteries. For more information about Best Buy's community relations efforts, visit www.BestBuy.com/CommunityRelations.

About Best Buy Co., Inc.

Best Buy Co., Inc. (NYSE: BBY) is an innovative Fortune 100 growth company that continually strives to create superior customer experiences. Through more than 1,150 retail stores across the United States, Canada and in China, 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 and BestBuy.ca), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com and GeekSquad.ca), Pacific Sales Kitchen and Bath Centers (PacificSales.com), Magnolia Audio Video (Magnoliaav.com) and Five Star (Five-Star.cn). We support our communities through employee volunteerism and grants from The Best Buy Children's Foundation.