Atlanta, GA, Oct. 25—The Home Depot has made an agreement to sell its five stores in Chile to its joint venture partner, Falabella, and its four Argentina stores to Hipermercados Jumbo, the owner of Easy Homecenter.

Bob Nardelli, Home Depot's president and CEO, reiterated the company's intention to continue focusing on international growth and opportunities, "The potential to expand our international presence, which today includes Canada, Mexico and the Caribbean, remains a key strategic focus and supplements Home Depot's leading domestic operations.

"We are committed to investing in attractive international markets, as was recently demonstrated by our acquisition of Total Home in Mexico. We intend to continue growing aggressively in Mexico, which we believe is a market that offers great opportunities. As part of our strategy in Mexico, we will enhance our presence with strong vendor resources from one of our country's chief trading partners."

Nardelli added that Home Depot will continue to pursue selected opportunities both domestically and internationally that can enhance shareholder value and provide the company with attractive financial returns and critical mass in chosen markets.  Specifically, Nardelli stated that the expertise and local business knowledge that Home Depot developed in South America will facilitate the company's rapid and profitable growth in Mexico.

Neither transaction is expected to close until Home Depot's fourth quarter, which begins October 29. The Argentina sale is subject to local government approval. Both transactions are for undisclosed amounts. The stores will be re-branded following a brief transition period. At that time, they will no longer carry the Home Depot logo.

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