Advance Auto Parts Reports Record Second Quarter 2001 Results

                - Second quarter retail sales increase 10.7% -
                     - Comparable store sales rise 6.8% -
                           - Net income up 58.7% -

    ROANOKE, Va., Aug. 7 Advance Auto Parts today announced
record sales and profits for the second quarter ended July 14, 2001.  The
results reflected continued strong comparable store sales growth and increases
in gross margin.
    Sales for the second quarter increased 8.9% to $607.5 million from
$557.6 million reported last year.  Retail sales rose approximately 10.7% to
$586.8 million from $529.9 million.  The increase in retail sales was
partially offset by lower sales in the wholesale dealer business.  Comparable
store sales increased a strong 6.8% for the fiscal 2001 second quarter
compared to 3.0% increase in the prior-year period.  Both the "do-it-yourself"
and "do-it-for-me" businesses showed continued sales growth.  Gross margin was
up 12.8% from the fiscal 2000 second quarter.
    Earnings before interest, taxes, depreciation and amortization (EBITDA) in
the fiscal 2001 second quarter rose 19.0% to $57.1 million from $48.0 million
in the year-ago quarter.
    Operating income in the second quarter of fiscal 2001 increased 24.8% to
$40.2 million from $32.2 million.  Net income increased 58.7% to $16.5 million
compared to $10.4 million in 2000.  Sales for the first two fiscal quarters of
2001 were $1,336.8 million, an increase of 8.2% over prior-year sales of
$1,235.2 million.  Retail sales for the two quarters increased 9.9% to
$1,275.6 million from $1,160.3 million.  Comparable store sales increased 6.2%
over the year-ago period.
    EBITDA for the first half of 2001 was $107.2 million, an increase of 22.8%
over the $87.3 million for the same period last year.  The year-to-date
results included two non-recurring items that increased EBITDA by
$3.2 million.  Excluding these non-recurring items, EBITDA increased 19.1% to
$104.0 million for the first two quarters.
    Operating income for the first two quarters rose to $67.9 million, an
increase of 32.1% from the $51.4 million in the same period last year.
Excluding the non-recurring items, operating income rose 25.9% to
$64.7 million.  For the first two quarters of 2001, net income was
$21.4 million, an increase of 127.7% over $9.4 million in 2000.
    During the quarter, the Company opened eight new stores, closed six
stores, and completed the conversion of all 30 of the acquired Carport Auto
Parts stores that were purchased on April 23, 2001.
    Net debt at the end of the second quarter was $535.2 million, a reduction
of $57.4 million from the same period last year.
    Larry Castellani, Chief Executive Officer, said, "We are pleased to see
the continued strong increase in our operating results as many of our
merchandising, marketing, store staffing and other initiatives are being
implemented.  We are also pleased with the successful completion of the
integration and conversion of the Carport Auto Parts stores.  Our performance
is a direct result of our people's dedicated efforts."
    The Company also announced today, in a separate press release, that it has
signed a definitive agreement to acquire Discount Auto Parts, Inc.
, a leading specialty replacement parts retailer in the
Southeastern United States, in a merger transaction.
    The Company will host a one-hour conference call to review the second
quarter results on August 16 at 1:00 p.m. EDT.  The call will be available by
dialing 888-810-3953 and providing the passcode "Advance."  A replay of the
call will be available by dialing 800-841-8616 and providing the passcode
"2001." The replay will be available through August 23, 2001 at 4:00 p.m. EDT.

    Advance Auto Parts is the primary trade name for Advance Stores Company,
Incorporated, a wholly owned subsidiary of Advance Holding Corporation.
Advance ended the second quarter of 2001 with 1,765 stores in 38 states,
primarily located in the eastern and mid-western regions of the United States
and in 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.