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Borders Chair Plans Major Superstore Expansion by 2005

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April 15-30, 2004 Edition

Borders Chain Plans

Major Superstore

Expansion by 2005

ANN ARBOR,MICH/04/01/04—Borders Group, Inc. (BGP) plans to spend $110 million by January 2005 to open about 20 domestic superstores, five international stores, and to remodel about 40 to 50 existing locations. In fiscal 2004, it opened 41 new domestic Borders superstores and seven international stores.

Borders Group operates 482 Borders superstores under the Borders name, including 24 in the U.K., nine in Australia, two in Puerto Rico, and one each in Singapore and New Zealand. It also operates 716 mall-based and other bookstores mainly under the Waldenbooks name in the U.S. and 36 bookstores under the Books etc. name in the U.K.

The national retail store chain, based in Ann Arbor, Mich., sells books, music, movies and other items. The company’s expansion plans were revealed in late March in its annual report filed with the Securities and Exchange commission. For the year ended January 25, 2004, the company had capital expenditures of $100.5 million