At the close of fiscal 2004, we operated 462 Borders® superstores in the U.S.; 42 Borders International superstores, located primarily in the U.K. and Asia Pacific; 35 Books etc.® stores throughout Great Britain; and approximately 700 stores within our Waldenbooks Specialty Retail segment, including Waldenbooks®, Borders ExpressTM, Borders OutletTM and Borders airport stores.

In addition, Borders Group owns and operates U.K.-based Paperchase Products Limited, a designer and retailer of stationery, cards and gifts. Teamed with Amazon.com, we also offer online shopping through www.borders.com, www.waldenbooks.com, www.borders.co.uk and www.booksetc.co.uk.