Exclusive Agreement Provides Customers with Security and
Protection from Identity Theft
DELRAY BEACH, Fla.--(BUSINESS WIRE)--Nov. 1, 2007--Office Depot
(NYSE:ODP), a leading global provider of office products and services,
today announced its relationship with LifeLock, the proactive identity
theft protection services company. This exclusive relationship will
make LifeLock's groundbreaking security solution available later this
year at Office Depot's 1,200 retail stores nationwide and online at
www.officedepot.com.
Identity theft is the fastest growing white-collar crime in
America, according to the Federal Trade Commission (FTC). Unlike other
security services on the market, LifeLock specializes in the
prevention of identity theft rather than the reporting of it after the
fact. With LifeLock, customers have the assurance of a proactive
service that is protecting personal and/or business information. In
addition, LifeLock is the industry's only identity theft solution that
is willing to protect its customers' identity with a $1 million
service guarantee.
The LifeLock service also helps to reduce the risk of identity
theft problems by setting and automatically renewing fraud alerts with
the major credit bureaus and removing member names from pre-approved
credit card offers and junk mail lists.
"LifeLock is the type of breakthrough product that is not only
very relevant to individual consumers today, but also offers a
much-needed service for small businesses with just a few employees and
larger companies with hundreds or thousands of associates," said Chuck
Rubin, President, North American Retail for Office Depot. "With this
new relationship with LifeLock, we will be bringing our customers an
essential security solution with the convenience, value and service
they've come to expect from Office Depot."
"We're very pleased to partner with Office Depot to provide their
customers with access to the security tools that can safeguard their
personal, business and employee information from identity theft," said
Todd Davis, Co-Founder and Chief Executive Officer of LifeLock. "With
LifeLock, consumers and businesses can rest assured that they are
protected from identity theft - I guarantee it."
The FTC reports that 27.3 million Americans have been victims of
identity theft in the last five years, including 9.9 million people in
the last year alone. According to the FTC, last year's identity theft
losses to businesses and financial institutions totaled nearly $48
billion and consumer victims reported $5 billion in out-of-pocket
expenses.
To ensure that businesses are not impacted by these thefts,
LifeLock also offers a service plan for businesses so that employees
remain focused on their work and not spend valuable time and resources
dealing with the identity theft issues.
Details on LifeLock service plans available through Office Depot
will be announced later this year.
About LifeLock
LifeLock (www.lifelock.com) helps consumers to render their
personal information useless to thieves, backing up its service with a
one million-dollar service guarantee. Famous for its CEO giving out
his Social Security Number in advertising and national press, the
company is experiencing astounding growth. Located in a secure
facility in Tempe, Arizona, LifeLock is a private company backed by
Kleiner Perkins Caufield and Byers as well as Bessemer Venture
Partners. The company recently won an American Business Award for the
Best Radio Advertising Campaign and was a finalist for 10 other
awards, including Best New Company and Best New Product/Service.
About Office Depot
Office Depot provides more office products and services to more
customers in more countries than any other company.
Incorporated in 1986 and headquartered in Delray Beach, Fla.,
Office Depot has annual sales of over $15.4 billion, and employs
approximately 52,000 associates around the world. Currently, the
Company sells to customers directly or through affiliates in 43
countries.
Office Depot is a leader in every distribution channel -- from
retail stores and contract delivery to catalogs and e-commerce. As of
June 30, 2007, Office Depot had 1,186 retail stores in North America
and another 369 stores, either company-owned, licensed or franchised,
in other parts of the world. Office Depot serves a wide range of
customers through a dedicated sales force, telephone account managers,
direct mail offerings, and multiple web sites. With $4.7 billion in
online sales during the last twelve months, the Company is also one of
the world's largest e-commerce retailers.
Office Depot's common stock is listed 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.
CONTACT: Office Depot, Delray Beach
Mindy Kramer, 561-438-4276
Mindy.Kramer@officedepot.com
or
Jason Shockley, 561-438-0037
Jason.Shockley@officedepot.com
SOURCE: Office Depot
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