ULTIMATE ELECTRONICS SELECTED TO CARRY ZENITH¹S LINE OF PLASMA DISPLAY PANELS

First to Advertise Aggressive New Price Points

Denver, Colo., June 20, 2002 ­ Ultimate Electronics, Inc. (NASDAQ: ULTE), a leading specialty retailer of home entertainment and consumer electronics, today announced that it will offer Zenith Electronics Corporation¹s award-winning line-up of flat, thin plasma display panels (PDPs).

Reflecting Ultimate Electronics¹ strong position in high-end digital products, the company was selected as the first major consumer electronics retailer to carry Zenith¹s 60, 50- and 42-inch PDPs. These new dramatic, hang-on-the-wall television display products combine new levels of performance and value to create the ultimate home theater experience.

Beginning this weekend, Ultimate Electronics also will be the first to advertise these widescreen PDPs at their aggressive new price points: $14,999 for the 60-inch HDTV monitor (Model P60W26), $10,999 for the 50-inch HDTV monitor (Model P50W26) and $4,999 for the 42-inch EDTV monitor (Model P42W22).

Ultimate Electronics is proud to be the first major retailer to offer its customers Zenith¹s entire family of widescreen plasma displays,² said Dave Workman, president and COO of Ultimate Electronics. ³Zenith¹s leadership in this key product category, combining performance and value, complements our goal to be the primary source for cutting-edge flat displays and other innovative digital products.²

About Zenith Electronics Corporation

Zenith Electronics Corporation, founded in 1918, is a leader in digital television technologies and inventor of the U.S. digital HDTV transmission system adopted by the FCC. Zenith¹s Emmy award winning technologies include digital HDTV, flat-screen CRTs, stereo television and TV remote controls. For 2002, Zenith is capitalizing on its digital HDTV leadership and on the extensive technologies and resources of its parent company, LG Electronics Inc. (LGE). Zenith¹s corporate headquarters are in Lincolnshire, Ill. Visit us on the World Wide Web at www.zenith.com.

About Ultimate Electronics

Ultimate Electronics, Inc. (the "Company" - NASDAQ: ULTE) is a leading specialty retailer of home entertainment and consumer electronics products in the Rocky Mountain, Midwest, and Southwest regions of the United States. The Company operates 46 stores, including 27 stores in Arizona, Idaho, Iowa, Nevada, New Mexico, Oklahoma, South Dakota, and Utah under the trade name Ultimate Electronics®, 11 stores in Colorado under the trade name SoundTrack®, and eight stores in Minnesota under the trade name Audio King®. In addition, the Company operates Fast Trak, Inc., an independent electronics repair company based in Minnesota and a wholly owned subsidiary of Ultimate Electronics. The Company strives to appeal to a wide range of customers with an emphasis on offering mid to high-end products presented by highly trained, knowledgeable, full-time sales force in a full-service retail environment. During the past two years, the Company received numerous industry awards including Audio Video International¹s 2001 ³Consumer Electronic¹s Retailer of the Year,² Dealerscope¹s ³Pride Award,² and Twice Magazine¹s ³Excellence in Retailing.²