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Staples Wins Bank of America Office Products Contract

Thursday, September 30, 2004 7:00 am EDT

Dateline:

FRAMINGHAM, Mass.

Public Company Information:

NASDAQ:
SPLS
"Through our commitment to operational and customer service excellence, we will provide Bank of America with a lowest total delivered cost program focused on productivity and service across purchasing functions."

FRAMINGHAM, Mass.--(BUSINESS WIRE)--Staples, Inc. (Nasdaq: SPLS) today announced that Bank of America has awarded Staples a five-year, $275 million national office products contract. The win establishes Bank of America as one of the largest customers for Staples Contract Division, which serves mid-sized and Fortune 1000 companies.

"Bank of America is excited by the opportunity to expand our relationship with New England-based Staples, an innovative supplier of office products that has provided our recent merger partner, FleetBoston Financial, with outstanding service over the past several years," said Lisa Eversole, Bank of America Finance Operations Executive.

"We are honored to be selected by one of the world's largest financial institutions as their exclusive national office products strategic supplier," said Jay Baitler, executive vice president of Staples Contract Division, North American Delivery. "Through our commitment to operational and customer service excellence, we will provide Bank of America with a lowest total delivered cost program focused on productivity and service across purchasing functions."

About Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving 33 million consumer relationships with 5,700 retail banking offices, more than 16,000 ATMs and award-winning online banking with more than ten million active users. Bank of America is the #1 Small Business Administration lender in the United States. The company serves clients in 150 countries and has relationships with 96 percent of the U.S. Fortune 500 companies and 82 percent of the Global Fortune 500. Bank of America Corporation stock (ticker: BAC) is listed on the New York Stock Exchange.

About Staples Contract Division

Staples Contract is Staples' fastest growing business with industry-leading double-digit growth for the past four years. The business serves mid-sized companies through Staples Business Advantage and Fortune 1000 companies through Staples National Advantage. Contract works collaboratively with its customers enabling procurement professionals to efficiently manage procurement programs with lowest total delivered cost. StaplesLink.com is an award-winning e-commerce site serving Staples Contract customers. Staples Contract Division has been certified by J.D. Power and Associates for delivering "An Outstanding Customer Service Experience".(a) More information is available at www.staplescontract.com.

About Staples

Staples, Inc. invented the office superstore concept in 1986 and today is the world's largest office products retailer. With 60,000 talented associates, the company is committed to making it easy to buy a wide range of office products, including supplies, technology, furniture, and business services. With 2003 sales of $13 billion, Staples serves consumers and businesses ranging from home-based businesses to Fortune 500 companies in 18 countries throughout North America and Europe. Headquartered outside of Boston, Staples operates approximately 1,600 office superstores and also serves its customers through mail order catalog, e-commerce and contract businesses. More information is available at www.staples.com.

(a) For J.D Power and Associates Certified Call Center Program(SM) information, visit www.jdpower.com or call 1-800-274-5372.

Contact:

Staples, Inc.
Owen Davis, 508-253-8468
owen.davis@staples.com

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