Best Buy Reveals Tough Controls On Violent Video Games At Urging Of Christian Brothers Investment Services, Other Shareholders

CBIS Effectively Worked with Giant Retailer as Alternative to Proxy Vote

NEW YORK CITY///May 19, 2005///Christian Brothers Investment Services, Inc., (CBIS) announced today that it withdrew a violent video games shareholder resolution filed with Best Buy Co., Inc. (NYSE: BBY), since the company has agreed to publicly outline what may be the toughest policy introduced by a major American retailer to restrict the sale of mature-rated video games to children and teens.

CBIS and its dialogue group were able to work together with Best Buy to strengthen its controls and publicize its policies in this area. Among the key provisions of the recently published Best Buy policy on violent video games are: a new “mystery shopper program” that audits cashiers to make sure they are asking for ID from any customer who appears to be under 21 years of age and is attempting to buy mature (M-rated) video games; a signed agreement by Best Buy employees stating that they have read and agree to implement Best Buy’s policy; and disciplinary actions against employees who fail to follow the policy and are found selling violent video games to minors.

The CBIS-sponsored resolution calling for Best Buy to publicly disclose its policy on violent video games sales to minors was co-sponsored by Trinity Health, Sisters of St. Joseph of Carondelet in Latham, New York and the Dominican Sisters of Adrian, Michigan.

Julie Tanner, CBIS corporate advocacy director, said: “Christian Brothers Investment Services is encouraged by this important first step at Best Buy. We are pleased with the progress to date at the company and commend Best Buy for improving its business practices in this area. We believe that Best Buy’s work here will diminish reputation risk and protect shareholder value. The emphasis on this kind of work at CBIS reflects the input provided to us in our 2004 client survey, which expressed concerns over the prevalence of violence in media entertainment.”

Cathy Rowan, as a co-filer of the resolution on behalf of Trinity Health and a co-chair of the violence and militarization of society working group at the Interfaith Center on Corporate Responsibility (ICCR) said: “Once a company like Best Buy sets out and then publicly discloses a policy like this, it allows concerned shareholders and others to monitor their compliance. By engaging with companies and industry associations on this issue, we believe that shareholders can help companies develop systems that ensure the sale of age-appropriate video games to consumers.”

Best Buy’s policy also calls for displaying signs about age requirements, programming cash registers to issue a prompt that reminds salespeople selling videogames to ask for ID, and holding training sessions for all employees on how and when to check IDs.

CBIS and its co-filers are calling on retailers to assume greater responsibility in ensuring that violent video games are not accessible to children and youth. The groups maintain that retailers must make a genuine commitment to keep video games with graphic violence, strong sexual content, and racist themes from minors. Research on violent media that is interactive -- such as video and computer games – suggests that it has a stronger and more lasting effect on violent behavior of youths.

ABOUT CBIS

Christian Brothers Investment Services manages nearly $4 billion, combining faith and finance in the responsible stewardship of Catholic financial assets. CBIS' combination of premier institutional asset managers, diversified product offerings, and careful risk-control strategies constitutes a unique investment approach for Catholic institutions and their fiduciaries. CBIS strives to integrate faith-based values into the investment process through a disciplined approach to socially responsible investing that includes principled purchasing (stock screens), active ownership strategies (proxy voting, dialogues, and shareholder resolutions) and community investment. The firm contributes a portion of all profits to support the Church's educational and social ministry.

CONTACT: Patrick Mitchell, for CBIS, at (703) 276-3266 or pmitchell@hastingsgroup.com.

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