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Dick Cabela to Transition to Chairman Emeritus of Cabela’s, Jim Cabela to Become Chairman of the Company They Founded

  Dick Cabela to Transition to Chairman Emeritus of Cabela’s, Jim Cabela to
  Become Chairman of the Company They Founded

Business Wire

SIDNEY, Neb. -- April 22, 2013

Cabela's Incorporated (NYSE:CAB) today announced the long-planned transition
of its co-founder and Chairman, Richard N. Cabela, to the role of Chairman
Emeritus, effective June5, 2013, the date of Cabela’s 2013 Annual Meeting of
Shareholders. Dick’s brother, James W. Cabela, Cabela’s Vice Chairman and
co-founder, will become Chairman following the 2013 Annual Meeting of
Shareholders.

“Dick Cabela is a legend at Cabela’s as well as throughout the entire outdoor
industry,” said Tommy Millner, Cabela’s Chief Executive Officer. “From their
kitchen table in Chappell, Nebraska, 52 years ago to pioneering direct catalog
marketing and experiential retailing, Dick and his wife, Mary, revolutionized
every aspect of outdoor product sales. Dick’s passion for the outdoors
transformed Cabela’s from a small company in western Nebraska to a $3.1
billion globally recognized brand.”

“We are particularly pleased our long-term succession plans once again
worked,” Millner said. “This has been a key focus over the past four years for
our management team and Board of Directors at every level of leadership within
the organization.”

“Dick’s enduring legacy continues, and I look forward to continuing to learn
from Dick’s wise counsel and advice in his new role as Chairman Emeritus,”
Millner said. “On behalf of Cabela’s employees, shareholders and customers, I
would like to thank Dick and Mary Cabela for their passion for the outdoors
and vision and business acumen, which led to the founding of this
extraordinary Company. Dick, Mary and Jim weren’t the first to offer outdoor
goods through the mail, but nobody did it better or with a greater focus on
customer service. This passion for delivering legendary customer service will
forever be Cabela’s foundation.”

“As we look toward the future, we are very pleased to have our co-founder, Jim
Cabela, become Chairman,” Millner said. “Jim’s leadership has been a powerful
force in building our Company over the last five decades. Jim’s passion for
the outdoors and his role as our new Chairman will ensure we remain focused
during this exciting growth period.”

                         About Cabela's Incorporated

Cabela's Incorporated, headquartered in Sidney, Nebraska, is a leading
specialty retailer, and the world's largest direct marketer, of hunting,
fishing, camping and related outdoor merchandise. Since the Company's founding
in 1961, Cabela's® has grown to become one of the most well-known outdoor
recreation brands in the world, and has long been recognized as the World's
Foremost Outfitter®. Through Cabela's growing number of retail stores and its
well-established direct business, it offers a wide and distinctive selection
of high-quality outdoor products at competitive prices while providing
superior customer service. Cabela's also issues the Cabela's CLUB® Visa credit
card, which serves as its primary customer loyalty rewards program. Cabela's
stock is traded on the New York Stock Exchange under the symbol "CAB".

Contact:

Cabela’s Incorporated
Investors:
Chris Gay, 308-255-2905
or
Media:
Joe Arterburn, 308-255-1204