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Regina, SK Press Release

Cabela's Inc. Announces Plans for Regina, Saskatchewan, Canada, Store

Opening planned for fall 2013 or spring 2014

SIDNEY, NE (Aug. 28, 2012) - Cabela's Incorporated (NYSE: CAB), the World's Foremost Outfitter of hunting, fishing and outdoor gear, announced today plans to introduce the unique Cabela's shopping experience to customers in Regina, Saskatchewan, Canada, and the surrounding area.

Map of SaskatchewanCabela's expects the 50,000-square-foot store to open in fall 2013 or spring 2014. It will be Cabela's fourth location in Canada and second in Saskatchewan, joining the Saskatoon location opened in May.

"Thousands of people across the region share Cabela's passion for adventure, and outdoor recreation is a huge draw in Regina, so this is a great fit," said Tommy Millner, Cabela's Chief Executive Officer. "Cabela's has a strong contingent of customers across the region and this store will allow us to better serve them. We're excited to take the next step."

The store will be built in Cabela's trademark style with an exterior of log construction, stonework, wood siding and metal roofing. The interior will be designed to surround customers in the outdoor experience with wildlife memorabilia and trophy animal mounts, as well as a mountain replica featuring North American game animals re-created in their natural habitat. It also will feature a Fudge Shop, Bargain Cave and thousands of products, including hunting, fishing and camping gear, outdoor clothing, gifts and furnishings.

Cabela's Regina store will be an anchor tenant in the Grasslands Shopping Centre, which is being developed by Harvard Developments and includes Lowe's, Walmart, Golf Town and other businesses.

Currently, Cabela's operates 38 stores across the United States and Canada. The company will open a store in Rogers, Ark., on Aug. 30, and Union Gap, Wash., on Oct. 4. In addition to the Regina location, Cabela's has announced plans to open seven new stores in 2013 - Saginaw, Mich.; Columbus, Ohio; Grandville, Mich.; Louisville, Ky.; Green Bay, Wis.; Thornton, Colo.; and Lone Tree, Colo. Additionally, in 2014, Cabela's plans to open locations in Anchorage, Alaska; Bristol, Va.; and Christiana, Del.

About Cabela's Incorporated
Cabela's Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world's largest direct marketer, 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 growing number of retail stores and its well-established direct business, 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. Cabela's stock is traded on the New York Stock Exchange under the symbol "CAB".

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 opening a retail store in Regina, Saskatchewan, Canada, in 2013. Forward-looking statements involve risks and uncertainties that may cause the Company's actual results, performance or financial condition to differ materially from the expectations of future results, performance or financial condition that the Company expresses or implies in any forward-looking statements. These risks and uncertainties include, but are not limited to: the state of the economy and the level of discretionary consumer spending, including changes in consumer preferences and demographic trends; adverse changes in the capital and credit markets or the availability of capital and credit; the Company's ability to successfully execute its multi-channel strategy; increasing competition in the outdoor sporting goods industry and for credit card products and reward programs; the cost of the Company's products, including increases in fuel prices; the availability of the Company's products due to political or financial instability in countries where the goods the Company sells are manufactured; supply and delivery shortages or interruptions, and other interruptions or disruptions to the Company's systems, processes, or controls, caused by system changes or other factors; increased or adverse government regulations, including regulations relating to firearms and ammunition; the Company's ability to protect its brand, intellectual property, and reputation; the outcome of litigation, administrative, and/or regulatory matters (including a Commissioner's charge the Company's received from the Chair of the U. S. Equal Employment Opportunity Commission in January 2011); the Company's ability to manage credit, liquidity, interest rate, operational, legal, and compliance risks; the Company's ability to increase credit card receivables while managing credit quality; the Company's ability to securitize its credit card receivables at acceptable rates or access the deposits market at acceptable rates; the impact of legislation, regulation, and supervisory regulatory actions in the financial services industry, including the Dodd-Frank Wall Street Reform and Consumer Protection Act; 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 31, 2011, and Form 10-Q for the fiscal quarter ended June 30, 2012), 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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