Pep Boys Announces Agreement with icarz

    PHILADELPHIA--Nov. 28, 2001--The Pep Boys - Manny, Moe & Jack , the nation's leading full service automotive aftermarket chain, announced today that it has entered into an agreement with icarz, inc. for the purpose of acquiring the icarz PartsWatch(TM) store management system for its 628 store locations nationwide.
    Pep Boys will utilize the PartsWatch(TM) system as another element of its comprehensive store revitalization program.
    George Babich, Executive Vice President & Chief Financial Officer of Pep Boys, commented, "Over the past 12 months, we have made tremendous improvements in our operating performance by reducing costs and gaining efficiencies. We are now taking the next step to enhance both our employee and customer experience by implementing the most advanced information technology available."
    "The web-enabled PartsWatch(TM) system will provide a seamless flow of information designed to enhance customer service, improve productivity and insure data integrity. The system's Internet connectivity will also lead to future benefits as Pep Boys further integrates with its customers and trading partners."
    Jesse Hermann, Chief Executive Officer of icarz, commented, "We are very excited about the relationship that we have established with Pep Boys. Our primary goal in designing the PartsWatch(TM) system was to build a comprehensive, yet easy to use product that enables real connectivity through the use of standard communication protocols, whether through the Internet or private communication networks. While we are pleased that customers are excited by the system capability and its ease of use, we are most excited by the connectivity that we can now offer."
    The PartsWatch(TM) system provides instant access for ordering and to real-time manufacturer product information for use with customers at the counter or by technicians in service bays.
    Pep Boys, which is celebrating its 80th anniversary this year, operates 628 stores and over 6500 service bays in 36 states and Puerto Rico. Along with its vehicle repair and maintenance capabilities, the company also serves the commercial auto parts delivery market and is one of the leading sellers of replacement tires in the United States.
    Customers can find the nearest location by calling 1-800-PEP-BOYS or by visiting www.pepboys.com.
    icarz sells store and distributor management software. In addition to its web portal for the automotive aftermarket, its products include AutoEase(TM), a comprehensive store management system run off a local CPU, and PartsWatch(TM), its most recent distributor management offering, featuring a robust system with a Windows interface delivered from a central data center.
    PartsWatch(TM) is run on standard off-the-shelf hardware utilizing standard connections. It is an open system capable of displaying text and graphics as presented by any third party using standard protocols. Additional information can be found on the icarz website at www.icarz.com.

    Notes: Certain statements made herein, including those discussing management's expectations for future periods, are forward-looking and involve risks and uncertainties.
    The Company's actual results may differ materially from the results discussed in the forward-looking statements due to factors beyond the control of the Company, including the strength of the national and regional economies and retail and commercial consumers' ability to spend, the health of the various sectors of the market that the Company serves, the weather in geographical regions with a high concentration of the Company's stores, competitive pricing, location and number of competitors' stores and product and labor costs.
    Further factors that might cause such a difference include, but are not limited to, the factors described in the Company's filings with the Securities and Exchange Commission.
    In accordance with the SEC's Regulation FD (fair disclosure), investors will now have an opportunity to listen to the Company's quarterly conference calls discussing its results and related matters. The calls will be broadcast live over the Internet at Broadcast Networks' Vcall web site, located at http://www.vcall.com.
    The call for the third quarter will be broadcast live on Friday, November 16, at 9:00 AM EST. To listen to the call live, please go to the web site at least 15 minutes early to register, download and install any necessary audio software.
    For those who cannot listen to the live broadcast, a replay will be available shortly after the call. Supplemental financial information is available on Pep Boys web site at www.pepboys.com.