TBC's Tire Kingdom Subsidiary Acquires 10 Retail Locations in Florida

    MEMPHIS, Tenn.--Jan. 31, 2001--TBC Corporation today announced that it has acquired 10 additional retail locations to be operated by its Tire Kingdom subsidiary, the nation's fifth largest independent tire retailer. The new locations are located in the Jacksonville, Florida market. Terms for the purchase were not announced, but TBC indicated that the acquired locations are generating annual sales of approximately $8 million.
    Larry Day, President and Chief Executive Officer, remarked, "The acquisition of these 10 locations follows the purchase last month of 14 retail tire stores. We now have 172 Tire Kingdom locations, up from 148 when we acquired the subsidiary in June 2000. Our plans are to continue expanding the Tire Kingdom system by opening new locations and completing other strategic acquisitions."
    TBC Corporation is one of the nation's largest marketers and distributors of tires for the automotive replacement market.
    This release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, uncertainties and other factors which could cause actual results to differ materially, including but not limited to, the degree of competition in the replacement tire industry, changes in consumer spending on automobiles and replacement automotive products and the Company's ability to continue to obtain products in sufficient quantity and at competitive prices. Additional information on factors that could potentially affect the Company or its financial results may be found in the Company's filings with the Securities and Exchange Commission.