Advance Auto Parts Reports Record First Quarter 2001 Results

                          - EBITDA Increased 27.8 -

                     - Comparable Store Sales Rose 5.7% -

    ROANOKE, Va., May 24 Advance Auto Parts today announced
record sales and operating income for the first quarter ended April 21, 2001.
The results reflected continued strong comparable store sales growth and an
increase in gross margin.
    Sales for the sixteen-week first quarter increased 7.6% to $729.4 million
from $677.6 million reported last year.  Retail sales rose approximately 9.3%
to $688.8 million from $630.4 million.  Comparable store sales increased a
strong 5.7% for the fiscal 2001 first quarter over a 4.4% increase in the
prior-year period.   Both the "do-it-yourself" and "do-it-for-me" businesses
showed continued sales growth.
    Earnings before interest, taxes, depreciation and amortization (EBITDA) in
the first quarter of fiscal 2001 rose 27.8% to $50.1 million from $39.2
million in the comparable quarter last year.  This year's results included two
non-recurring items for the recognition of increased margin from the
settlement of a supplier contract and from expenses related to store closings
and asset sales.  The net effect of the non-recurring items was $3.2 million.
Excluding these non-recurring items, EBITDA increased 19.6% to $46.9 million.
    Operating income in the first quarter of fiscal 2001 increased by 44.3% to
$27.7 million from $19.2 million.  Excluding the non-recurring items,
operating income rose 27.6% to $24.5 million.
    Net income for the quarter was $5.0 million compared to a net loss of
$1.0 million in the first quarter 2000.
    During the quarter, the Company opened 15 new stores and closed
11 underperforming stores.
    The Company also announced that its acquisition of the 51 Carport Auto
Parts stores was completed as planned on April 23, 2001.  All stores to remain
open will be converted to the Advance Auto Parts banner by the end of the
summer.  The Company plans to open 115 to 130 new stores in 2001.
    Larry Castellani, Chief Executive Officer, said "We are pleased with the
strong start to our 2001 year.  Many of the initiatives our people have put in
place are having a positive effect on our sales, earnings, and growth.  We are
also continuing to see solid comparable store sales growth in the second
quarter."
    As a result of the strong start to the year, the Company also announced it
is raising its estimate for EBITDA for the year from $180 million to
$188 million from the $161.9 million last year.
    Advance Auto Parts is the primary trade name for Advance Stores Company,
Incorporated, a wholly owned subsidiary of Advance Holding Corporation.
Advance ended the first quarter of 2001 with 1,733 stores in 38 states,
primarily located in the eastern and mid-western regions of the United States,
Puerto Rico and the Virgin Islands.  The company is based in Roanoke, Va., and
is the second largest auto parts chain in the nation. Additional information
about the company, employment opportunities, services, as well as on-line
purchase of parts and accessories can be found on the company web site at
http://www.advanceautoparts.com.

    Certain statements contained in this news release are forward-looking
statements.  These statements discuss, among other things, expected growth,
store development and expansion strategy, business strategies, future revenues
and future performance.  The forward-looking statements are subject to risks,
uncertainties and assumptions including, but not limited to, competitive
pressures, demand for the Company's products, the market for auto parts, the
economy in general, inflation, consumer debt levels, the weather, and other
risk factors listed from time to time in the Company's filings with the
Securities and Exchange Commission.  Actual results may materially differ from
anticipated results described in these forward-looking statements.