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News Release

Staples Is Ready to Serve Busy Commuters With a New Location in Penn Station

New Site at Train Station to Join Airport Stores, Express Stores and Superstores in Providing Business Travelers with Valuable Products and Services

FRAMINGHAM, Mass.--(BUSINESS WIRE)--June 27, 2001--Staples Inc., operator of more than 1,300 office superstores worldwide, today announced that the company will expand service to business travelers by opening a new store at the Amtrak Concourse in Penn Station. Located at 31st Street and 7th Avenue under Madison Square Garden, the new Penn Station site underscores Staples' commitment to open stores in strategic locations designed for business travelers. The new store is slated to open this summer.

"Staples is pleased to have the opportunity to expand its service to business travelers with a new location in Penn Station. It is also a great complement to our broad network of Staples Express stores located throughout Manhattan," remarked Joseph Vassalluzzo, Staples' vice chairman. "Penn Station's 21 tracks handle more than 600,000 passengers a day, making it the busiest train station in America and a natural site for a Staples store."

The 2,000 square-foot store will offer commuters a varied selection of merchandise suited to the specific needs of the business traveler, including small pack sizes of paper and file folders, organizers, presentation materials, travel supplies, luggage and small electronics such as hand-held organizers and calculators. Self-service copying and faxing will also be offered and are expected to be popular services.

For customers who want to order supplies and have them delivered to their final travel destination, home or office, a Staples.com kiosk and a specially-marked telephone linked to Staples catalog operators will be available for those purchases.

The first Staples airport store opened at the Philadelphia International Airport in September 1999. Boston's Logan International Airport welcomed Staples' second airport store in January 2000. Two more stores have opened in airports since then, including Newark International Airport and Pittsburgh International Airport.

Staples Inc. is an $11 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 50,000 employees serving customers through more than 1,300 office superstores, mail order catalogs, e-commerce and a contract business. More information about the company is available at http://www.staples.com.

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CONTACT: Staples Inc.
Vicki Hughart
508-253-7895