Best Buy Unveils New Social Change Platform on Eve of Presidential Election to Give Teens a Voice

Most teens do not have a vote, so @15, a new teen-led social change platform underwritten by Best Buy (NYSE:BBY), has been launched to give them a voice. Today, with the release of the first in a series of quarterly @15 IMO (shorthand for "In My Opinion”) polls, teens will be heard. Best Buy also announced it is inviting teens to help direct its philanthropy through the newly-created @15 Fund, which teens will execute to help fund social change projects.

The first @15 IMO survey, conducted in September 2008, reveals that the majority (80 percent) of U.S. teens feel like they aren’t heard by adults in general. Seventy percent of the group is "‘pessimistic’ about the future,” while more than 60 percent of the 13-17 year-olds who participated in the IMO feel that the economy is the top issue the presidential candidates should be discussing. Teens also say they fear that the recent Wall Street bailout will have repercussions for years to come – and that the younger generation will be left holding the bag for the decisions adult leaders are making today.

The poll was conducted nationally using the online media and social networks that teens use regularly to share their thoughts. Other @15 IMO highlights include:

• The vast majority of teen respondents (80 percent) would like to sit down with the two U.S. presidential candidates to help them understand what’s important to teens.
• The majority of teens surveyed are closely following the presidential race, males and older teens in particular; less than 25 percent say they aren’t following the race much at all.
• Older teens – in particular, males – have a greater interest in becoming involved in the political process than females and younger teens.
• Teens feel their own parents pay as much attention to their opinions on important issues as their friends do (about one in four say "a lot”). They also say teachers pay more attention than elected officials, but considerably less than their own parents and friends.

"Today’s teens are compassionate, caring and concerned about the same things that face all Americans, especially the direction of our country,” said Brian Dunn, president and COO, Best Buy Co., Inc. and champion of @15. "That’s why we’re tapping our employees, our technology, and our social media expertise, to bring forward the voices of teens nationwide for a conversation about key issues that impact them and their future. And we’re going to give them the opportunity to direct how our charitable giving can make a real difference. This is more than just a forum for teens - it’s a movement. And we’re inviting all teens to visit www.at15.org and join in the conversation.”

The @15 Fund, designed to empower teens to direct Best Buy resources to teen-led projects, will be implemented in its first year through a partnership with Youth Venture, a leading nonprofit that believes in the power of individuals as change-makers. Youth Venture and Best Buy have created the @15 Challenge, through which 300 new teen-led social ventures will receive $1,000 seed funding. In addition, teens nationwide will have the opportunity in January 2009 to vote online and select 15 current Venture Teams to receive $10,000 grants. Teams that are chosen will display the greatest creativity, community impact and the clearest vision of how to create sustainable change.

"When Best Buy told us they wanted to partner and develop a program that seeks to give today’s teen a voice and opportunities to tackle some of the world’s most pressing challenges – from climate change to health and education – we were thrilled,” said Gretchen Zucker, executive director, Youth Venture. "We are very excited about the @15 platform and supporting teens in making their voices heard, strengthening their neighborhoods, schools and communities and, in essence, changing the world.”

About @15

Best Buy believes in the power of teens, and @15 is a new platform to connect with them, give voice to their perspectives, and invest our resources – including the energy and talents of our employees – to turn their ideas into action and support their efforts to lead social change. Teens bring passion and enthusiasm to tackling tough issues. They’re also important to our business – they shop in our stores, and they’re our future employees. There’s a real opportunity to listen to – and learn from – what teens have to say. And through the @15 Fund, we’ll put the philanthropic power of @15 directly into their hands. To learn more, visit www.at15.org.

About Best Buy Co., Inc.

With operations in the United States, Canada, Europe, and China, Best Buy (NYSE:BBY) is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy family of brands and partnerships collectively generates more than $40 billion annual revenue and includes brands such as Best Buy, Audiovisions, The Carphone Warehouse, Future Shop, Geek Squad, Jiangsu Five Star, Magnolia Audio Video, Pacific Sales Kitchen and Bath Centers, The Phone House and Speakeasy. Approximately 165,000 employees apply their talents to help bring the benefits of these brands to life for customers through retail locations, multiple call centers and Web sites, in-home solutions, product delivery and activities in our communities. Community partnership is central to the way we do business at Best Buy. In fiscal 2008, we donated a combined $31.8 million to improve the vitality of the communities where our employees and customers live and work. For more information about Best Buy, visit www.bestbuyinc.com.