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19 July 2010
by erin.bix@bestbuy.com

Bowers & Wilkins Announces Expansion of Retail Distribution

As Product Mix Expands and U.S. Retail Environment Evolves, Magnolia Emerges as Strategic Retail Partner

North Reading, MA—July 19, 2010—Bowers & Wilkins has announced that this fall, the company will introduce a significant portion of its broad product portfolio to Magnolia Home Theater, Magnolia Design Centers, and Magnolia Audio Video stores.

According to Bowers & Wilkins Chairman Joe Atkins, this decision was made after a very thorough review of the current business climate and the loss of multiple points of distribution due to the economy, which comes at a particularly inopportune time as the company continues to introduce the brand to thousands of new customers through its successful and growing partnership with Apple.

Atkins said, “We are confident that the ongoing development of Magnolia’s national brick and mortar retail model and their commitment to enhance the presentation of traditional premium audio creates a unique and exciting opportunity for Bowers & Wilkins. At the same time, we are also confident that the increased brand exposure will benefit our existing dealer partners, and enhance their ability to continue to drive profitable and sustainable retail revenue.”

Bowers & Wilkins (B&W) is Britain’s leading exporter of loudspeakers, and is also the number-one imported brand in North America. Since 1966, B&W’s “Quest for Perfection” has resulted in a succession of technical loudspeaker innovations that have satisfied the world’s most demanding listeners. B&W’s rave reviews and universal acceptance as the monitor for classical music recordings have helped B&W become the dominant premium loudspeaker company throughout the world. In addition, B&W’s New Media products redefine the audio experience for the digital consumer.

About Magnolia:

Magnolia has been in business for over 50 years, and is a premier retailer of high-performance audio, video and home automation systems. Today, there are over 350 Magnolia Home Theater locations inside Best Buy across the nation, as well as 8 stand-alone Flagship locations in Washington, California and Illinois—operated under the Magnolia Audio Video name. These flagship locations provide end-to-end entertainment and engineering design solutions for their customers. From collaborative in-home consultations, to custom audio/video and control system design, to final installation and support—Magnolia Audio Video is without peer. Magnolia also owns the distinction of having won 22 customer service awards in their storied history. Magnolia joined the Best Buy family of brands in 2000 and is a wholly owned subsidiary of Best Buy. For more information about the Magnolia Audio Video experience, including the store’s extensive selection and services, visit www.magnoliaav.com.