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News Release

Staples, Inc. Announces Pricing of Senior Notes Offering
FRAMINGHAM, Mass., Jan 12, 2009 (BUSINESS WIRE) -- Staples, Inc. (Nasdaq: SPLS) announced today that it has priced a previously announced public offering of $1.5 billion of its senior notes, at 9.75 percent coupon, due 2014. The offering is expected to close on January 15, 2009, subject to customary closing conditions.

Staples expects to receive net proceeds, after the underwriting discount, of approximately $1.492 billion. The proceeds from the public offering will be used to repay in part Staples' outstanding debt related to its commercial paper program; 2008 credit agreement, which backstops the commercial paper program; and revolving credit facility.

Barclays Capital Inc., Banc of America Securities LLC and HSBC Securities (USA) Inc. are acting as joint book-running managers.

The offering is being made pursuant to an effective registration statement filed by Staples, Inc. with the Securities and Exchange Commission on December 2, 2008.

The offering of senior notes may be made only by means of a prospectus and prospectus supplement. A copy of the prospectus and prospectus supplement relating to the securities can be obtained from Barclays Capital Inc., (888) 227-2275 ext. 2663; Banc of America Securities LLC, (800) 294-1322; or HSBC Securities (USA) Inc., (866) 811-8049.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, Staples' senior notes or any other securities, nor shall there be any sale of securities mentioned in this press release 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.

About Staples

Staples, the world's largest office products company, is committed to making it easy for customers to buy a wide range of office products, including supplies, technology, furniture, and business services. With $27 billion in sales, Staples serves businesses of all sizes and consumers in 27 countries throughout North and South America, Europe, Asia and Australia. In July 2008, Staples acquired Corporate Express, one of the world's leading suppliers of office products to businesses and institutions. Staples invented the office superstore concept in 1986 and is headquartered outside Boston.

Forward-Looking Statements

Certain information contained in this press release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995, including the statements regarding our intention to issue notes and our expected use of proceeds. These statements relate to future events and can generally be identified by words such as "expects" and "intends". Forward-looking statements are inherently uncertain. The success of the offering and the sale of the notes are subject to a number of conditions, not all of which are within Staples' control. There is no assurance that Staples will successfully complete the proposed offering or apply the proceeds of the offering as presently intended. Actual results may differ materially from those indicated by such forward-looking statements as a result of risks and uncertainties, including but not limited to changes in national or regional economies, changes in the interest rate environment and other factors discussed or referenced in our most recent quarterly report on Form 10-Q filed with the SEC, under the heading "Risk Factors" and elsewhere, and any subsequent periodic or current reports filed by us with the SEC. In addition, any forward-looking statements speak only as of the date such statements are made. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so.

SOURCE: Staples, Inc.

Staples, Inc.
Media Contacts:
Paul Capelli, 508-253-8530
Owen Davis, 508-253-8468
Investor Contacts:
Laurel Lefebvre, 508-253-4080
Chris Powers, 508-253-4632