TBC's Big O Tires Subsidiary Achieving Accelerated Expansion

    MEMPHIS, Tenn.--June 4, 2001--TBC Corporation today announced that because of an accelerated expansion program, its Big O Tires subsidiary has already met its full-year goal of having more than 480 U.S. retail tire stores in operation.
    Larry Day, President and Chief Executive Officer, remarked, "We had set what we believed to be an ambitious goal for the full year of opening at least 20 new Big O locations on the base of 462 open at the end of 2000. We have already met that objective with 482 Big O stores currently open in the United States and are planning to add as many as ten other locations by mid year. Our expansion thus far in 2001 has been aided by the acquisition of some stores, but our focus remains on expanding through new franchised locations. The Big O system, which represents a distinctive marketing channel in the replacement tire industry, now spans 20 states with an additional 35 associate dealers in Canada.
    "The Big O system included 395 U.S. locations when we acquired this tire dealership in 1996. Our emphasis on continuing to build Big O as principally a franchised system has been rewarded by the high rankings that we consistently receive in nationwide surveys of customers about their preferred tire retailers. Big O is now the nation's largest franchisor of retail tire stores and represents the third largest retail tire dealership in the United States. We are pleased with the outstanding progress recorded thus far in 2001 and are excited about the ongoing growth potential of the Big O system."