News Release

NEW YORK & DELRAY BEACH, Fla., Dec 4, 2001 (BUSINESS WIRE) --

Co-branded Card Provides Business Owners with Purchasing Power Up to $100,000, No Annual Fee and a Valuable Rewards Program

Giving business owners the purchasing power they need to finance, manage and grow their companies, Office Depot, Inc., (NYSE:ODP) and J.P. Morgan Chase & Co. (NYSE:JPM), announced the launch of the Office Depot(R)Visa(R)Platinum Business Card from Chase. The new co-branded card offers businesses the opportunity to fund office supplies, business services and travel expenditures while earning reward points for card purchases.

Cardmembers will receive an introductory(1) Annual Percentage Rate (APR) of 6.99% for the first six months on purchases, cash advances and balance transfers plus no annual fee and a line of credit up to $100,000 for qualified applicants. For added convenience, businesses will receive one consolidated statement that streamlines expense reconciliation and online statements helping small businesses manage spending and assist with tax preparation.

Office Depot(R) Visa(R) Platinum Business Card from Chase cardmembers will be automatically enrolled in the Rewards Program and receive 1,000 bonus points. Cardmembers will earn 2 points for every dollar spent at Office Depot, whether the purchase is made at one of its 846 stores nationwide, on-line at http://www.officedepot.com or through the company's direct catalog business via phone at 1-888-GO-DEPOT (1-888-463-3768) or fax. Besides earning double points for Office Depot purchases, cardmembers will earn 1 point for every dollar spent at any of the 22 million locations where Visa is accepted. Points can be redeemed for free or discounted products and services including Office Depot merchandise and gift certificates, hotel accommodations, car rentals and airline tickets.

"The challenges facing small businesses are different than those for medium to large-sized companies. They have unique financial needs, and require different financial tools in today's competitive marketplace. We want to offer these customers a credit card that meets their financial needs, while also providing a loyalty program that supports our commitment to be the most compelling place to shop for office products and services," noted Charles Brown, Office Depot's EVP and Chief Financial Officer.

"The new Office Depot(R) Visa(R) Platinum Business Card from Chase will expand our access to businesses nationwide through Office Depot's vast network of stores," said Richard Srednicki, Chase Executive Vice President in charge of its credit card business. "We look forward to providing this premier client base with an innovative product and unsurpassed customer service."

Card features include the flexibility of designating spending limits for employees, consolidated central billing statements, quarterly management reports and online account access and statements.

In addition to earning reward points, the card also offers cash access at more than 900,000 ATMs worldwide and services including Auto Rental Insurance, Medical Assistance, Legal Assistance, Travel Accident Insurance Coverage up to $500,000 and Extended Warranty/Purchase Protection.(2) The card also offers a 24-hour customer service center. To apply for the card, customers may visit any Office Depot store, call 1-800-898-5942 or apply online at http://www.officedepotvisa.com/apply.

    About Office Depot

No one sells more office products to more customers in more countries than Office Depot. As of September 29, 2001, Office Depot operated 846 office supply superstores in the United States and Canada, in addition to a national business-to-business delivery network supported by 25 delivery centers, more than 60 local sales offices and eight regional call centers. Furthermore, the Company had operations in 15 countries outside of the United States and Canada, including 28 office supply stores in France and seven in Japan that are owned and operated by the Company; and 101 additional office supply stores under joint venture and licensing agreements operating under the Office Depot(R) name in five foreign countries.

The company also operates an award-winning U.S. Office Depot(R) brand Web site at http://www.officedepot.com where customers can access Office Depot's low competitive prices seven days a week, twenty-four hours a day, and it operates http://www.officedepot.co.jp in Japan and http://www.officedepot.fr in France as well as Viking(R) brand Web sites at http://www.vikingop.com in the United States, http://www.viking-direct.co.uk in the United Kingdom, http://www.viking.de in Germany, http://www.vikingdirect.nl in The Netherlands, http://www.vikingop.it in Italy, http://www.vikingop.com.au in Australia, http://www.vikingop.co.jp in Japan, http://www.vikingdirect.fr in France and http://www.vikingdirekt.at in Austria. Office Depot's common stock is traded on the New York Stock Exchange under the symbol ODP and is included in the S&P 500 Index. Office Depot is an Official Sponsor of the U.S. 2002 and 2004 Olympic Team.

    About Chase

Commercial cards are issued by Chase Manhattan Bank USA, N.A, a subsidiary of J.P. Morgan Chase & Co. Chase's credit card portfolio has more than 20 million accounts and over $39 billion in outstandings. Chase is the fourth largest bank card issuer in the United States, and its joint venture with First Data Corporation makes it the largest merchant processor in the U.S.

J.P. Morgan Chase & Co. is a leading global financial services firm with assets of $700 billion and operations in more than 50 countries. With relationships with over 99% of the Fortune 1000 companies, the firm is a leader in investment banking, asset management, private banking, private equity, custody and transaction services, retail and middle market financial services, and e-finance. A component of the Dow Jones Industrial Average, JPMorgan Chase is headquartered in New York and serves more than 30 million consumer customers and the world's most prominent corporate, institutional and government clients. Information about JPMorgan Chase is available on the internet at http://www.jpmorganchase.com.

(1) Go-to rate of Prime Rate plus 6.99% (minimum APR 12.00%) for purchases and Prime Rate plus 8.99% (minimum 14.00%) for cash advances and balance transfers.

(2) These services are provided by Visa. Certain restrictions may apply.

CONTACT:          JPMorgan Chase, New York
                  Kristen Batteria, 212/270-7433 
                  kristen.batteria@chase.com
                  or
                  Office Depot, Inc., Delray Beach
                  Lauren Garvey, 561/438-2895 
                  lgarvey@officedepot.com

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