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Joseph S. Vassalluzzo Selected As NACORE New England's Corporate Real Estate Executive of the Year
WESTBOROUGH, Mass.--(BUSINESS WIRE)--Jan. 18, 1999--Joseph S. Vassalluzzo, president of Staples Realty and Development, has been selected as this year's recipient of the NACORE New England Corporate Real Estate Executive of the Year award.

The NACORE New England chapter is part of NACORE International, based in West Palm Beach, Fla. NACORE International has more than 40 chapters in the United States with 3,500 members. The organization provides networking and educational programs for its real estate professionals. The NACORE New England chapter is very active in local communities through its non-profit City/Build program, which provides restoration assistance to historic neighborhoods. NACORE New England is also large contributor to the Make a Wish foundation.

Candidates for the Corporate Real Estate Executive of the Year award demonstrate high moral and ethical business standards, proven deal making ability, a history of significant contribution to the advancement of Corporate Real Estate practices and consistent contribution to the Corporate Real Estate community. The award is named in memory of John D. McCarthy, a consummate real estate professional, who throughout his 30 year career was highly regarded in the real estate community.

"Joe Vassalluzzo continues the tradition and reflects the standards set forth by Jack McCarthy", according to Frances Busse, president of NACORE New England. "Joe exhibits a thorough understanding of real estate, knows how to make a deal and is well respected by his peers. NACORE is looking forward to honoring Joe at this very special event."

Considered to be one of the most prestigious real estate events in New England, The John D. McCarthy Corporate Real Estate Executive of the Year Award will be presented to Vassalluzzo on April 7, 1999. The presentation will take place during the sixth Annual NACORE New England dinner at the JFK Library in Dorchester, Mass.

Vassalluzzo joined Staples in 1989, and has been one of the key drivers of Staples' phenomenal growth in its twelve year history. Originally holding the position of executive vice president, Growth & Support Services, he was named to executive vice president, Global Growth and Development in 1993. In 1997, he was promoted to president Staples Realty.

Vassalluzzo has been responsible for the company's rapid expansion from 30 stores to 840 stores in North America, as well as solid growth in international divisions in the United Kingdom and Germany. In addition, he oversees growth and development for the company's catalog delivery division, Staples Direct and Quill and the contract stationer division, which includes Staples Business Advantage and Staples National Advantage. Vassalluzzo also oversees all mergers and acquisitions and corporate legal activities.

Staples, Inc. is a $7 billion retailer of office supplies, furniture and technology to consumers and business from home-based businesses to Fortune 50 companies in the United States, Canada, the United Kingdom and Germany. Headquartered outside Boston, Staples invented the office superstore concept and today is the largest operator of office superstores in the world. The company has more than 37,000 associates serving customers through more than 900 office superstores, mail order catalogs, e-commerce and a contract business. More information can be found at http://www.staples.com


     CONTACT: Staples Inc.
              Kathy Montal
              (508) 370-7895