High-End Car Audio Lineup Strengthens Best Buy Offerings

15 December 1998
Best Buy Partners with Rockford Fosgate; High-End Car Audio Lineup Strengthens Best Buy Offerings
    MINNEAPOLIS, Dec. 15 -- Best Buy Co., Inc.
announced today a new partnership with high-end, car audio manufacturer
Rockford Fosgate. Best Buy is the first national retailer to offer Rockford
products. Amplifiers, subwoofers, speakers and accessories will be available
at all of Best Buy's 312 locations in March 1999.
    Phil Schoonover, Senior Vice President - Marketing, explained how the move
to "Best Brands" brought Best Buy to the Rockford Fosgate brand for car audio
enthusiasts. "The national rollout of Rockford continues to align our product
offerings with Best Buy's techno-savvy customers, who have already been widely
receptive to new, high-end products from Yamaha and Maytag. The highly
respected Rockford brand is expected to further enhance Best Buy's brand image
and respectively, financial performance."
    Dan McLeod, VP of Sales for Rockford Fosgate said, "Customers are much
more demanding of retailers than they were five to ten years ago. They insist
on a large selection of products and incredible customer service. In the last
five years, Best Buy has made significant changes to satisfy those needs. Add
to the fact that Best Buy is the number one retailer of car stereos in the
nation, and you see how nicely this move fits into both company's strategies."
    Beginning in March, Best Buy will offer eight amplifiers and a select mix
of woofers and speakers in its retail locations. Custom installation of car
audio equipment, performed by mobile electronics certified program (MECP)
technicians, is available at participating Best Buy stores.
    Minneapolis-based Best Buy Co., Inc. is the nation's largest volume
specialty retailer of name-brand consumer electronics, personal computers,
entertainment software and appliances. The Company is ranked 199 on the
Fortune 500 with annual revenues of $8.4 billion. Best Buy operates 312 stores
in 36 states and its common stock is traded on the New York Stock Exchange,
symbol BBY. The Company also offers on-line shopping for CDs and DVD movies at
http://www.bestbuy.com
    Rockford Fosgate designs and manufactures high-end, car audio woofers,
component speakers, in-dash CD players, CD Changers, and amplifiers. The
privately held company is headquartered in Tempe, Ariz. with additional
manufacturing in Grand Rapids, Mich. as well as subsidiaries in Singapore,
Japan, and Germany. Additional information about Rockford Fosgate and Rockford
Corporation is available on the company's web site at
http://www.rockfordfosgate.com