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Staples Prices Offering of $226.68 Million of its Common Stock

FRAMINGHAM, Mass.--(BUSINESS WIRE)--May 30, 2003--Staples, Inc. (NASDAQ: SPLS) today announced that it had entered into an agreement to sell 12,000,000 shares of its common stock at a price of $18.89 per share in a public offering. All of the shares are being offered by Staples. Staples intends to use the net proceeds from the sale of its common stock for working capital and general corporate purposes.

Staples has granted the underwriters an option to purchase up to 1,800,000 additional shares to cover over-allotments. Credit Suisse First Boston and Goldman, Sachs & Co. are jointly managing the offering. Copies of the final prospectus supplement and related prospectus may be obtained from Credit Suisse First Boston, 1 Madison Avenue, New York, NY 10010, (212) 325-2580 and from Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad St., New York, NY 10004, (212) 902-1000.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A shelf registration statement relating to the shares that Staples intends to sell has previously been filed with, and declared effective by, the Securities and Exchange Commission. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.

About Staples

Staples, Inc. is an $11.6 billion retailer of office supplies, business services, furniture and technology to consumers and businesses from home-based businesses to Fortune 500 companies in the United States, Canada, the United Kingdom, France, Italy, Spain, Belgium, Germany, the Netherlands and Portugal. Headquartered outside Boston, Staples invented the office superstore concept and today is the largest operator of office superstores in the world. The company has 58,000 associates serving customers in approximately 1,500 office superstores, mail order catalogs, e-commerce and a contract business. More information about the company is available at

CONTACT: Staples, Inc.
Media Contacts:
Paul Capelli or Deborah Hohler, 508/253-8530/8509
Investor Contact:
Laurel Lefebvre, 508/253-4080

SOURCE: Staples, Inc.