Business News

Staples Increases Offer Price per Corporate Express Convertible Bond to EUR 1,346.71

Thursday 12. June 2008 - -- Staples purchased 5,000 Corporate Express Convertible Bonds at a price of EUR 1,346.71 per bond -- Staples will pay EUR 1,346.71 to all Convertible Bonds validly tendered under Staples' offer

Staples, Inc.’s (Nasdaq: SPLS) wholly owned subsidiary Staples Acquisition B.V. today announced that it purchased a total of 5,000 Corporate Express two percent Guaranteed Subordinated Convertible Bonds due 2010 as described in an offering circular of December 16, 2003 (the “Convertible Bonds”) at a price of EUR 1,346.71 per Convertible Bond. The increased price per Convertible Bond follows and reflects the increase of the price per Corporate Express ordinary share (“Ordinary Shares”) from EUR 9.15 to EUR 9.25 payable to persons validly tendering Ordinary Shares in the Offer by Staples Acquisition B.V. if it declares the offer unconditional.

The purchase of the Convertible Bonds has taken place in a transaction other than a regular on market transaction. Therefore, in accordance with Article 19 of the Dutch Decree on Public Takeover Bids (Besluit openbare biedingen Wft), if the offer is declared unconditional, Staples Acquisition B.V. will be required to pay EUR 1,346.71 per Convertible Bond validly tendered into the offer (or defectively tendered, provided such defect is waived by Staples Acquisition B.V.).