Office Depot Selects Key Participants in the Design and Development of the Company's New...

Business Editors

DELRAY BEACH, Fla.--(BUSINESS WIRE)--May 18, 2004

HOK Architects to Design Facility, Stiles Corporation to Serve as

Development Manager and Cushman & Wakefield to Provide Project

Management Services

Office Depot, (NYSE:ODP),

one of the world's leading sellers of office supplies, announced today that it has selected a number of key participants in the development of its new global headquarters to be constructed in Boca Raton, Fla. The new facility is expected to be ready in the first half of 2006.

HOK

The company has named Hellmuth, Obata + Kassabaum, Inc. (HOK) of Atlanta to serve as the Project Architect. Prior to the selection of HOK, Office Depot conducted a competitive process that included some of the leading architects in the United States.

Industry surveys consistently rank HOK among the world's best design firms. The company is a global provider of design and project delivery services with 1,600 professionals linked across a network of offices in North America, Latin America, Europe and Asia. Founded in 1955, HOK's expertise includes architecture, workplace strategy, engineering, interiors, planning, lighting, graphics, facilities planning and assessment, and construction services.

Stiles Corporation

Office Depot has awarded Stiles Corporation of Fort Lauderdale the role as Development Manager. Stiles will assist Office Depot in obtaining regulatory approval of the project -- which will include 600,000 square feet of office space integrated with a 2000 car parking facility on more than 20 acres of property -- and will also supervise the general construction contractor.

Stiles Corporation was named "2003 South Florida Developer of the Year" by the National Association of Industrial and Office Properties (NAIOP). The company is a full-service commercial real estate development and investment firm, providing clients with premier design, construction, financing, realty, property management and landscaping services. Stiles Corporation is responsible for more than 27 million square feet of office, industrial and retail space throughout the southeastern U.S.

Cushman & Wakefield

Also named to the project team is Cushman & Wakefield, Inc. of Atlanta, to provide overall Program Management, including serving as the Owner's Representative throughout the development process, providing oversight (with HOK) of furniture and equipment sourcing for the new facility, and managing the logistics associated with the move of Office Depot's headquarters staff upon the new building's completion.

Cushman & Wakefield is the world's largest privately held real estate services firm. Founded in 1917, the firm has 164 offices in 49 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. The company also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services.

About Office Depot

With annual sales of more than $12 billion, no one sells more office supplies to more customers in more countries than Office Depot. Founded in 1986 and headquartered in Delray Beach, FL, the company conducts business in 23 countries and employs nearly 50,000 people worldwide.

Office Depot is a leader in every distribution channel - from retail stores and contract delivery to catalogs and e-commerce. The company is the world's number two online retailer - generating $2.6B in sales for FY'03. In North America, Office Depot has 900 retail stores in addition to a national business-to-business delivery network supported by 22 delivery centers, more than 60 local sales offices and 13 regional call centers.

The company's common stock is traded 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.