The Home Depot Announces Preliminary Results of Tender Offer



    ATLANTA, Sept. 4 /CNW/ -- The Home Depot(R), the world's largest home
improvement retailer, today announced the preliminary results of its modified
"Dutch Auction" tender offer, which expired at 5 p.m. on Friday, August 31,
2007.  Based on the preliminary count by the depositary for the tender offer,
The Home Depot expects to purchase approximately 289.6 million shares in the
offer, at a price of $37.00 per share, for a total cost of approximately $10.7
billion, excluding fees and expenses related to the tender.
    
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20030502/HOMEDEPOTLOGO )
    
    Based on the depositary's preliminary count, a total of approximately
290.0 million shares were validly tendered in the offer at a price of $37.00
per share.  Accordingly, the preliminary proration factor for the offer will
be approximately 99.8 percent.  The approximately 289.6 million shares
expected to be purchased in the offer represent approximately 14.6 percent of
the shares outstanding on August 31, 2007.
    The shares expected to be purchased in the offer include the 250,000,000
shares the Company initially offered to purchase and approximately 39.6
million additional shares that the Company has elected to purchase pursuant to
the terms of its tender offer.
    The number of shares to be purchased and the price per share under the
tender offer are preliminary.  Final results will be determined subject to
confirmation by the depositary of the proper delivery of the shares validly
tendered and not withdrawn.  The actual number of shares to be purchased and
the price per share will be announced following the completion of the
confirmation process.  Payment for the shares accepted for purchase will occur
promptly thereafter.
    Shareholders and investors who have questions or need information about
the tender offer may contact the information agent, D.F. King & Co., Inc., at
1-800-628-8536.
    In connection with this offer, Computershare, Inc. served as depositary,
Lehman Brothers and Merrill Lynch as dealer managers and King & Spalding as
legal advisor.
    The Home Depot(R) is the world's largest home improvement specialty
retailer, with 2,206 retail stores in all 50 states, the District of Columbia,
Puerto Rico, U.S. Virgin Islands, 10 Canadian provinces, Mexico and China. In
fiscal 2006, The Home Depot had sales from continuing operations of $79.0
billion and earnings from continuing operations of $5.3 billion. The Company
employs approximately 350,000 associates. The Home Depot's stock is traded on
the New York Stock Exchange (NYSE:   HD) and is included in the Dow Jones
industrial average and Standard & Poor's 500 index. HDE
    Certain statements contained herein, including any statements related to
the recapitalization plan and the tender offer, constitute "forward-looking
statements" as defined in the Private Securities Litigation Reform Act of
1995. These statements are based on currently available information and are
based on our current expectations and projections about future events. These
risks and uncertainties include, but are not limited to, economic conditions
in North America and; the success of the recapitalization plan and the tender
offer, as it may be supplemented and amended from time to time. Undue reliance
should not be placed on such forward-looking statements as they speak only as
of the date hereof, and we undertake no obligation to update these statements
to reflect subsequent events or circumstances except as may be required by
law. Additional information regarding other risks and uncertainties is
contained in our periodic filings with the SEC, including our Annual Report on
Form 10-K for the fiscal year ended January 28, 2007.




For further information:

For further information: Financial Community: Diane Dayhoff, Sr. Vice 
President - Investor Relations, +1-770-384-2666, diane_dayhoff@homedepot.com, 
News Media: Paula Drake, Sr. Manager - Corporate Communications, 
+1-941-284-4999, paula_drake@homedepot.com, both of The Home Depot Web Site:
http://www.homedepot.com/


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890