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Saginaw, MI Press Release

Cabela's® Announces Plans for Saginaw, Mich. Store
The Saginaw store is expected to open in the spring of 2013.

SIDNEY, Neb. (July 26, 2012) - Cabela's Incorporated,(NYSE:CAB) the World's Foremost Outfitter® of hunting, fishing and outdoor gear, announced today plans to bring the unique Cabela's shopping experience to Saginaw, Mich.

Map of Michigan Construction on the 43,000-square-foot store is scheduled to begin this fall and Cabela's expects to open the location in spring 2013. It will be Cabela's third retail store in Michigan, joining the Dundee location, which opened in 2000, and the Grandville location, slated to open in 2013.

The Saginaw store will be located in a building previously occupied by Circuit City on Tittabawassee Road in the Saginaw Shopping Center, which also includes Target, Staples, McDonald's and Toys R Us.

This is Cabela's second planned Cabela's Outpost Store, joining the Union Gap, Wash., location scheduled to open this fall. It is expected to employ about 75 full- and part-time employees. Most will come from the greater Saginaw area.

"Opening a Cabela's Outpost in Saginaw will allow us to more efficiently serve our passionate customers across Michigan and the Great Lakes region," Cabela's Chief Executive Officer Tommy Millner said. "In many ways this is an exciting new concept, but Cabela's Outposts also will be true Cabela's stores offering a premier retail experience. We are confident it will be a perfect fit for Saginaw."

Designed for efficiency, flexibility and convenience at approximately 40,000-square-feet, Cabela's Outpost Stores will serve customers in underserved markets across North America. They will bring the same quality products and customer service for which Cabela's is famous to hometown markets too small to support Cabela's popular next-generation stores.

Cabela's Outposts will feature an innovative core-flex floor plan allowing products to be rotated to match the season. Customers also will have access to all Cabela's gear via online order kiosks located throughout the store. Additionally, Cabela's Outposts will offer a complimentary In-Store Pickup program enabling customers to order merchandise ahead of time and pick it up at their convenience at any Cabela's location.

About Cabela's Incorporated
Cabela's Incorporated, headquartered in Sidney, Nebraska, is the world's largest direct marketer, and a leading specialty retailer, of hunting, fishing, camping and related outdoor merchandise. Since the Company's founding in 1961, Cabela's® has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World's Foremost Outfitter®. Through Cabela's well-established direct business and its growing number of destination retail stores, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela's also issues the Cabela's Club® VISA credit card, which serves as its primary customer-loyalty rewards program.

Caution Concerning Forward-Looking Statements
Statements in this press release that are not historical or current fact are "forward-looking statements" that are based on the Company's beliefs, assumptions and expectations of future events, taking into account the information currently available to the Company. Such forward-looking statements include, but are not limited to, the Company's statements regarding the construction and anticipated opening date of a destination retail store in Scarborough, Maine, and the Company's plans to open seven additional new stores in 2007. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from the expectations of future results that the Company expresses or implies in any forward-looking statements. These risks and uncertainties include, but are not limited to: the ability to negotiate favorable purchase, lease, and/or economic development arrangements for new destination retail store locations; increasing competition in the outdoor segment of the sporting goods industry; supply and delivery shortages or interruptions; delays in traffic planning and/or road construction around new destination retail stores; the ability to secure required governmental permits and approvals, adverse weather conditions; adverse economic conditions causing a decline in discretionary consumer spending; labor shortages or increased labor costs; the acceleration of new destination retail store openings; the cost of fuel increasing; increased government regulation; other factors that the Company may not have currently identified or quantified; and other risks, relevant factors and uncertainties identified in the Company's filings with the SEC (including the information set forth in the "Risk Factors" section of the Company's Form 10-K for the fiscal year ended December 30, 2006), which filings are available at the Company's website at www.cabelas.com and the SEC's website at www.sec.gov. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. The Company's forward-looking statements speak only as of the date they are made. Other than as required by law, the Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

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