EXHIBIT 99
                                                                  PRESS RELEASE




BEST BUY ANNOUNCES 
EARLY REDEMPTION OF
SENIOR SUBORDINATED NOTES

MINNEAPOLIS, AUGUST 17, 1998 - Best Buy Co., Inc. (NYSE: BBY) announced the
authorized early redemption of the Company's $150 million 8 5/8% Senior
Subordinated Notes Due 2000 by Best Buy's Board of Directors. The Notes are
redeemable at 102.5% of par after October 1, 1998. The Company expects to redeem
all of the Notes on October 5, 1998. The premium on the early redemption will
reduce earnings per share by two cents in the Company's fiscal third quarter,
however, it is expected to generate net interest savings of nearly $10 million
over the original remaining two years of the Notes. This redemption, combined
with the conversion of the Company's Preferred Securities into common stock in
April 1998, results in the early retirement of $380 million in long-term debt in
the past six months.

Chairman, Founder and CEO Richard M. Schulze stated, "We're extremely pleased
that our financial position allows us to repay this financing two years early.
We expect our anticipated earnings and continued improvement in inventory
management will fund our working capital requirements and previously announced
expansion plans for the current and subsequent fiscal year." 

This release contains forward looking statements, which are subject to risks and
uncertainties. The Company's SEC filings contain additional discussion about
those factors which could cause actual results to differ from management's
expectations.

Minneapolis-based Best Buy Co., Inc. is the nation's largest volume specialty
retailer of name-brand consumer electronics, personal computers, entertainment
software and appliances. The Company is ranked 199 on the Fortune 500. Best Buy
operates 289 stores in 32 states. For more information, access the Company's Web
site at WWW.BESTBUY.COM.
                                          
                                          
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For more information:
Susan Hoff
VP Corporate Communications & Investor Relations
(612) 947-2443
shoff@bestbuy.com