News Release

BOCA RATON, Fla.--(BUSINESS WIRE)--Mar. 31, 2009-- Office Depot® (NYSE:ODP), a leading global provider of office products and services, has been recognized by DiversityBusiness.com as one of the “Top Organizations for Multicultural Business Opportunities” for the ninth year in a row. This esteemed, elite list is coveted by the most successful companies in the U.S. The list has become the most recognized and respected compilation of companies that truly differentiate themselves in the market place in a time when diversity has never been more important. Placing fifth, Office Depot is the highest ranking retailer on the list, dubbed the Div50, which includes forty-nine other major corporations.

DiversityBusiness.com is the nation’s leading multicultural online website. More than 650,000 diversity business owners had the opportunity to participate online in determining the organizations to be included in the list. Participants based their decisions on such factors as the consistency and quality of business opportunities granted to women and minority-owned companies.

“Being recognized as a top Company for multicultural business opportunities is a great honor for Office Depot,” said Steve Odland, Chairman and CEO of Office Depot. “Inclusion is one of our Company’s core values and we put this into action by respecting the diverse thoughts, beliefs, backgrounds, cultures and energies of our associates, customers and suppliers.”

Office Depot’s commitment to the development and success of women and minority-owned companies is achieved through a number of important initiatives, including the following:

• Supply Chain Inclusion: Office Depot works with Historically Underutilized Businesses (HUBs), which include certified Minority, Women, Disabled, Veteran and Small Business enterprises, throughout the Company’s global supply chain. Office Depot identifies and works with those businesses that manufacture products that can be either resold to Office Depot customers or used in its own operations.
• Tier One Program: Office Depot has adopted a mentor approach through this innovative program that pairs the retailer with small and disadvantaged firms in an effort to develop them and enhance their own performance. The goal of this initiative is to positively contribute to the economic development, job creation and long-term viability of independently owned and operated HUB firms.

To learn more about the supplier and vendor diversity program at Office Depot, please visit www.officedepot.com/diversity.

The Business Power of Diversity

As multicultural and female owned businesses gain more buying power and their lifestyles become more affluent, multicultural markets are growing in economic muscle. This in turn attracts more corporations, as they compete for market share. The Div50 list has therefore become the consumer guide for women and minority consumers. “As a diversity business owner, I appreciate the business we receive from corporate buyers; and in turn, when I buy products and services, either personally or for my company, I am much more likely to buy from the same companies that support my business or are supporting businesses like mine,” said Edgar L. Smith, CEO of World Packaging Company headquartered in Cincinnati, Ohio.

The Div50

The Div50 is a listing of the top 50 corporate and organizational buyers of diversity products and services throughout the U.S. It represents the voice of over 650,000 diversity-owned (women, African Americans, Hispanics, Asians, Native American, and other multicultural groups) businesses in the U.S., in sectors such as technology, manufacturing, food service and professional services. It has become the Gold Standard to its members and their associates and reaches millions of consumers every year. In nine short years, it has become a highly valued metric of corporate excellence in the diversity space.

The winning companies will be honored at a special awards ceremony at DiversityBusiness.com’s 9th Annual Multicultural Business Conference, taking place April 29 –May 1, 2009 at Disney’s Contemporary Resort, Orlando, Florida.

A complete list of winners is available at: www.DiversityBusiness.com.

About DiversityBusiness.com

Launched in 1999, DiversityBusiness, with over 46,000 members, is the largest organization of diversity owned businesses throughout the United States that provide goods and services to Fortune 1000 companies, government agencies, and colleges and universities. DiversityBusiness provides research and data collection services for diversity including the "Top 50 Organizations for Multicultural Business Opportunities", "Top 500 Diversity Owned Companies in America", and others. Its research has been recognized and published by Forbes Magazine, Business Week and thousands of other print and internet publications. The site has gained national recognition and has won numerous awards for its content and design. It is a leading provider of Supplier Diversity management tools and has the most widely distributed Diversity magazine in the United States. DiversityBusiness.com is produced by Computer Consulting Associates International Inc. (CCAii.com) of Southport, CT and was founded in 1980.

About Office Depot

Every day, Office Depot is Taking Care of Business for millions of customers around the globe. For the local corner store as well as Fortune 500 companies, Office Depot provides products and services to its customers through 1,713 worldwide retail stores, a dedicated sales force, top-rated catalogs and a $4.8 billion e-commerce operation. Office Depot has annual sales of approximately $14.5 billion, and employs about 43,000 associates around the world. The Company provides more office products and services to more customers in more countries than any other company, and currently sells to customers directly or through affiliates in 48 countries.

Office Depot’s common stock is listed on the New York Stock Exchange under the symbol ODP and is included in the S&P 500 Index. Additional press information can be found at: http://mediarelations.officedepot.com.

Source: Office Depot

Office Depot, Boca Raton
Melissa Perlman, Public Relations, 561-438-0704
Melissa.Perlman@officedepot.com