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Staples Inc. Names Joseph S. Vassalluzzo Vice Chairman

FRAMINGHAM, Mass.--(BUSINESS WIRE)--Jan. 5, 2000--Staples Inc. (NASDAQ:SPLS) today named Joseph S. Vassalluzzo vice chairman. In his new role, Vassalluzzo will continue to oversee Staples Realty and Development where he has served as president for the past two years and will continue to report to Staples' Chairman and Chief Executive Officer, Thomas G. Stemberg.

"Joe has built one of the most strategic and successful real estate and construction teams in all of retail," said Stemberg. "His efforts and achievements have been key drivers of Staples' phenomenal growth and bricks-and-mortar will continue to be a strong focus and backbone for this company even as we steadfastly pursue our goal of becoming the online destination for small business."

During his 10 years with Staples, Vassalluzzo has been instrumental in the development and opening of more than 1,000 Staples stores worldwide, including the company's recent acquisition in Europe. He joined Staples as executive vice president of growth and development, where he directed the company's store opening and real estate activities and was promoted numerous times. Most recently, he was president of Staples Realty and Development, responsible for the company's worldwide real estate, legal and merger and acquisition activities, for which he will remain responsible.

Prior to joining Staples, Mr. Vassalluzzo had an accomplished career in real estate at Mobil Oil, Amerada Hess Corporation and American Stores Company. He earned his undergraduate degree from Pennsylvania State University and M.B.A. from Temple University. A native of Philadelphia, Vassalluzzo currently resides in Southborough, Mass.

About Staples

Staples Inc. is a $7 billion retailer of office supplies, furniture and technology to consumers and businesses from home-based businesses to Fortune 500 companies in the United States, Canada, the United Kingdom, 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 over 46,000 employees serving customers through more than 1,100 office superstores, mail order catalogs, e-commerce and a contract business. More information about the company is available at

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