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Recycled Paper Accounts for Two-Thirds of Office Depot's 2004 U.S. Paper Sales; Sales Climb Nearly 400 Percent Since 2003

Posted on: Monday, 11 July 2005, 09:00 CDT

Office Depot (NYSE:ODP), a leading global provider of office products and services, today announced that 65 percent of its 2004 U.S. paper sales came from recycled paper -- a dramatic 373 percent increase from 2003. Office Depot, who last year became the first company in the office products industry to set annual quantified environmental performance objectives, also reported that the average annual post-consumer waste (PCW) recycled content of all paper it sold in the United States last year climbed by nearly 125 percent.

During 2004, 65.3 percent of Office Depot's total U.S. retail, contract business, and commercial paper sales contained PCW recycled content -- up from 13.8 percent in 2003. In addition, the overall average PCW recycled content (total weight of recycled fiber as a percent of total paper weight) of paper sold across all U.S. channels reached 10.5 percent--up from 4.5 percent in 2003.

"We are thrilled to report that nearly two of every three sheets of paper sold in the United States by Office Depot last year contained recycled content," said Tyler Elm, Director of Environmental Affairs for Office Depot. "With paper being the most ubiquitous single office product, the sales effect of recycled stock is a significant benchmark of our corporate commitment to promoting environmentally-sensitive products and a testament to the growing public and corporate adoption of our quality recycled paper."

Environmental Impact

According to Elm, through the shift in sales from virgin to of PCW recycled content paper(1) across the United States, Office Depot:

-- Conserved nearly 1.5 million trees

-- Saved more than 1 trillion BTUs of energy--the amount of energy needed annually to power nearly 10,000 U.S. households

-- Prevented nearly 65,000 tons of greenhouse gas emissions (CO2 equivalents)--equivalent to removing nearly 12,000 cars from the road for a year or protecting more than 16,000 acres of forestland for a year

-- Prevented the release of approximately 33,000 tons of solid waste--equivalent to the annual trash volume generated by nearly 42,000 U.S. citizens

-- Prevented nearly 630,000 gallons of waste water, the annual amount of water consumed by nearly 6,000 U.S. households

Recycled Paper Initiatives

Office Depot's 2004 recycled paper sales volume is the culmination of numerous recent corporate initiatives to further develop and market paper that meets business requirements while addressing environmental interests. Last year, Office Depot enhanced its branded paper lineup by increasing PCW recycled content in white copy paper, inkjet paper, laser paper, color laser paper, and color copier paper.

In 2004, Office Depot also became the first reseller to include PCW recycled content fiber in its standard copy paper--designed for everyday high-volume copy and printing. At the same time, it introduced elemental chlorine-free Office Depot brand paper--employing an advanced brightening process to reduce pollution while enabling production of bright, white paper.

Chain-of-Custody Paper Sourcing

In 2004, Office Depot collaborated with paper producer Norske Canada and professional services firm PricewaterhouseCoopers to pioneer the industry's first independent chain-of-custody system for North American paper sourcing. The system lets Office Depot ensure that paper used in its printed marketing materials is "environmentally-preferable." In Canada, for example, the company's advertising insert program used environmentally preferable paper in 100 percent of all weekly marketing inserts last year.

As part of the chain-of-custody initiative, Office Depot is also identifying, tracking, and publicly reporting on its use of environmentally preferable fiber in the company's Environmental Stewardship Report, the industry's only independently audited report of its kind.

Office Depot and the Environment

Office Depot's environmental initiatives center on sustainable forest management, recycling, and pollution reduction, as well as promotion of environmental issues and markets for environmentally-preferable products. In January 2005, the company issued its Green Book catalog of environmentally friendly products--the only environmentally-preferable office products catalog printed on elemental chlorine-free, 100 percent PCW recycled paper.

In recognition of its environmental stewardship, Office Depot recently received the "Outstanding Retailer" Award by the International Council of Shopping Centers and Environmental Protection Agency. In addition, the company was again named to the FTSE4Good Index, which assesses companies' corporate social-responsibility practices based on socially responsible investment principles. For more information on Office Depot's environmental initiatives, visit www.officedepot.com/environment.

Editor's Note: For more information on Office Depot's environmental initiatives, visit www.officedepot.com/environment.

About Office Depot

With annual sales approaching $14 billion, Office Depot provides more office products and services to more customers in more countries than any other company. Incorporated in 1986 and headquartered in Delray Beach, Florida, Office Depot conducts business in 23 countries and employs 47,000 people worldwide. The Company operates under the Office Depot(R), Viking Office Products(R), Viking Direct(R), Guilbert(R), and Tech Depot(R) brand names.

Office Depot is a leader in every distribution channel - from retail stores and contract delivery to catalogs and e-commerce. With $3.1 billion in online sales in FY'04, the Company is the world's number three Internet retailer. As of March 26, 2005, Office Depot has 995 retail stores in North America in addition to a national business-to-business delivery network supported by 22 delivery centers and more than 60 local sales offices. Internationally, the Company conducts wholly owned operations in 14 countries through 77 retail stores and 26 distribution centers, and operates 153 retail stores under joint venture and license arrangements in another seven countries.

The company'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: Business Wire

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