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Staples Names Michael A. Miles, Jr. Chief Operating Officer

FRAMINGHAM, Mass.--(BUSINESS WIRE)--July 29, 2003--

Former YUM Brands Executive Brings Unique Mix of Customer Service

Focus, Proven Leadership and Track Record of Profitable Sales Growth

Staples, Inc. (Nasdaq: SPLS) today announced the appointment of Michael A. Miles, Jr. to the Company's newly created position of Chief Operating Officer. Effective September 8, he will report to Ron Sargent, Staples President and Chief Executive Officer and will be responsible for Staples U.S. Superstores, Marketing, Merchandising and Supply Chain.

"Mike has a passion for providing excellent customer service and has demonstrated skills in delivering profitable sales growth. He will be a tremendous addition to our deep and talented leadership team," said Ron Sargent. "I am extremely pleased Mike is joining our team to help drive Staples' future growth and execute our promise to make buying office products easy."

Miles joins Staples from YUM Brands, Inc. where he served as COO of Pizza Hut, Inc. At Pizza Hut he was responsible for 1,800 company-operated restaurants with 40,000 employees as well as 4,700 franchise-operated restaurants. His team achieved record profit margins for the company, drove customer service levels to all-time highs and decreased employee turnover to all-time lows.

He joined PepsiCo, Inc in 1993 as Director of Strategic Planning, Restaurants and in 1994 was promoted to Division Vice President for Pizza Hut where he increased profits 30 percent. Miles led the development of the next generation Pizza Hut stores as Senior Vice President, Concept Development. Prior to joining YUM Brands, he served as Vice President of Marketing at Loyalty Management Group, a databased customer loyalty program start-up. Miles began his career at Bain & Company.

He holds an M.B.A. from Harvard Business School and an B.A. in Economics from Yale University. Miles plans to relocate to the Boston area with his family.

About Staples

Staples, Inc., an $11.6 billion retailer headquartered outside of Boston, sells a wide range of office products, including supplies, technology, furniture, and business services. Staples is committed to make buying office products easy. Nearly 58,000 associates serve consumers and businesses of all sizes -- from home-based businesses to Fortune 500 companies in the US, Belgium, Canada, France, Germany, Italy, the Netherlands, Portugal, Spain, Sweden, and the United Kingdom. Staples invented the office superstore concept and today, with approximately 1,500 office superstores, is the largest operator of office superstores in the world. Staples also serves its customers through its mail order catalog, e-commerce and contract businesses. More information is available at

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

SOURCE: Staples, Inc.