TBC's Big O Tires Subsidiary Achieving Accelerated Expansion; Ranks as Nation's Third Largest Retail Tire Dealership

    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."
    TBC Corporation is one of the nation's largest marketers of automotive replacement tires through a multi-channel marketing strategy. The Company's retail operations include company-owned retail centers under the Tire Kingdom brand and franchised retail stores under the Big O Tires brand. TBC also markets wholesale to customers who operate more than 200 regional distribution centers serving independent tire dealers throughout the United States and in Canada and Mexico.

    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.