Thursday, July 16, 2009

hhgregg, Inc. Announces Public Offering of 3,000,000 Shares of Common Stock

hhgregg, Inc. Announces Public Offering of 3,000,000 Shares of Common Stock

INDIANAPOLIS, Jul 16, 2009 (BUSINESS WIRE) -- hhgregg, Inc. (the "Company") (NYSE:HGG) today announced that it has commenced a public offering of 3,000,000 shares of its common stock pursuant to an effective shelf registration statement. Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are the joint bookrunning managers for the offering. The underwriters will have a 30-day option to purchase up to an additional 450,000 shares from the Company to cover over-allotments, if any. The offering will be made by means of a prospectus. A copy of the prospectus related to the offering, when available, may be obtained by contacting:

Credit Suisse Securities (USA) LLC Attention: Prospectus Department One Madison Avenue New York, New York 10010 Telephone: 1-800 221 1037;or

Barclays Capital Inc. Attention: Prospectus Department c/o Broadridge Integrated Distribution Services 1155 Long Island Avenue Edgewood, NY 11717 Telephone: 1-888-603-5847 or by e-mail

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. hhgregg has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in the effective registration statement and related prospectus supplement and other documents that hhgregg has filed or will file with the SEC for more complete information about hhgregg and this offering. You may get these documents for free by visiting the SEC website at Alternatively, you may obtain the prospectus relating to this offering as indicated above.

About hhgregg

hhgregg is a specialty retailer of consumer electronics, home appliances, and related products and services operating under the name hhgregg(TM). hhgregg currently operates 113 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

Safe Harbor Statement

The following is a Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release includes forward-looking statements. These statements may be identified by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should," or "will," or the negative thereof or other variations thereon or comparable terminology. In particular, statements about the expectations, beliefs, plans, objectives, assumptions or future events or performance of hhgregg, Inc. are forward-looking statements. hhgregg has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While hhgregg believes these expectations, assumptions, estimates and projections are reasonable, these forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These and other important factors may cause hhgregg's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Some of the key factors that could cause actual results to differ from hhgregg's expectations are: competition in existing, adjacent and new metropolitan markets; changes in consumer preferences and demand for the Company's products; its ability to effectively manage and monitor its operations, costs and service quality; its reliance on a small number of suppliers; rapid inflation or deflation in core product prices; the failure of manufacturers to introduce new products and technologies; customer acceptance of new technology; its dependence on the Company's key management personnel and its ability to attract and retain qualified sale's personnel; its ability to negotiate with its suppliers to provide product on a timely basis at competitive prices; the identification and acquisition of suitable sites for its stores and the negotiation of acceptable leases for those sites; the effect of general and regional economic and employment conditions on its net sales; fluctuation in seasonal demand; its ability to achieve its accelerated growth strategy and penetrate new geographic areas; its ability to locate suitable new store sites; its ability to obtain additional financing and maintain its credit facilities; its ability to maintain and upgrade its information technology systems; the effect of a disruption at the Company's central distribution centers; changes in cost for print, radio and television advertising; and changes in trade regulations, currency fluctuations, the economy in general and prevailing interest rates.

Other factors that could cause actual results to differ from those implied by the forward-looking statements in this press release are more fully described in the "Risk Factors" section in the Company's preliminary prospectus supplement filed with the Securities and Exchange Commission on July 16, 2009. Given these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the time of this news release. Actual results may differ materially from anticipated results described in these forward looking statements. hhgregg does not undertake, and specifically declines, any obligation to update any of these statements or to publicly announce the results of any revisions to any of these statements to reflect future events or developments.

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