Office Depot Extends Deadline for Nominating Directors to Board

  Office Depot Extends Deadline for Nominating Directors to Board

Business Wire

BOCA RATON, Fla. -- January 24, 2013

Office Depot, Inc.(NYSE:ODP), a leading global provider of office supplies and
services, today announced  that, after discussions with Starboard Value LP
(which together with its affiliates owns slightly less than 15 percent of the
Company’s outstanding Common Stock), its Board of Directors has amended and
restated the Company’s Bylaws to extend the deadline for stockholders to
nominate candidates for election to the Company’s Board of Directors at the
Company’s 2013 annual meeting of stockholders to the close of business on
February 25, 2013.

About Office Depot

Office Depot provides office supplies and services through 1,675 worldwide
retail stores, a dedicated sales force, top-rated catalogs, and global
e-commerce operations. Office Depot has annual sales of approximately $11.5
billion, employs about 39,000 associates, and serves customers in 60 countries
around the world.

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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: The Private
Securities Litigation Reform Act of 1995, as amended, (the “Act”) provides
protection from liability in private lawsuits for “forward-looking” statements
made by public companies under certain circumstances, provided that the public
company discloses with specificity the risk factors that may impact its future
results. We want to take advantage of the “safe harbor” provisions of the Act.
Certain statements made in this press release are forward-looking statements
under the Act. Except for historical financial and business performance
information, statements made in this press release should be considered
forward-looking as referred to in the Act. Much of the information that looks
towards future performance of our company is based on various factors and
important assumptions about future events that may or may not actually come
true. As a result, our operations and financial results in the future could
differ materially and substantially from those we have discussed in the
forward-looking statements made in thispress release. Certain risks and
uncertainties are detailed from time to time inour filings with the United
States Securities and Exchange Commission (“SEC”). You are strongly urged to
review all such filings for a more detailed discussion of such risks and
uncertainties. The Company’s SEC filings are readily obtainable at no charge
at www.sec.gov and at www.freeEDGAR.com, as well as on a number of other
commercial web sites.

Additional Information and Where to Find It

The Company plans to file with the SEC a proxy statement and white proxy card
on Schedule 14A in connection with the 2013 annual meeting of stockholders
(the “2013 Proxy Materials”).The 2013 Proxy Materials will contain important
information about the Company, the 2013 annual meeting and related matters.
Stockholders are urged to read the 2013 Proxy Materials carefully when they
are available.Stockholders will be able to obtain free copies of the 2013
Proxy Materials and other documents filed with the SEC by the Company through
the web site maintained by the SEC at www.sec.gov and by contacting the
Company’s Department of Investor Relations at 6600 North Military Trail, Boca
Raton, FL33496.In addition, stockholders can obtain free copies of the
documents filed with the SEC on the Company’s website at www.officedepot.com.

Participants in the Solicitation

The Company and its directors and executive officers may be deemed to be
participants in the solicitation of proxies in respect of the 2013 annual
meeting.Information regarding the Company’s executive officers and directors
is included in the Company’s definitive proxy statement, which was filed with
the SEC on March 15, 2012.The 2013 Proxy Statement regarding the 2013 annual
meeting will provide more information about participants in the solicitation
of proxies from the Company’s stockholders, which participants may have
interests different from the Company’s stockholders generally.You can obtain
free copies of these documents from the Company using the contact information
above.

Contact:

Office Depot, Inc.
Investor Relations:
Brian Turcotte, 561-438-3657
brian.turcotte@officedepot.com
or
Public Relations:
Brian Levine, 561-438-2895
brian.levine@officedepot.com
 
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