Midas Appoints Shaneyfelt Chief Merchandising Officer

    ITASCA, Ill.--May 28, 2002--Midas, Inc. has appointed Steven D. Shaneyfelt to the newly created post of chief merchandising officer. He continues as a senior vice president.
    In his new position, Shaneyfelt, 45, is responsible for all merchandising functions, including merchandise selection, margins, inventory management and sales of International Parts Company (IPC) automotive parts to wholesale distributors, as well as operations of Parts Warehouse Inc., (PWI) quick-delivery parts sites and Midas' 110 company-operated auto service shops.
    He reports to Wendel H. Province, Midas' chairman and chief executive officer.
    Shaneyfelt joined Midas in June 2000, as senior vice president for PWI. He subsequently added responsibilities for merchandising and company shops.
    "Distribution of parts both to Midas dealers and other customers and operations of company-owned shops are increasingly important elements of Midas' growth strategy and future profitability," said Province. "Steve Shaneyfelt's merchandising expertise will continue to be a major contributor to meeting our growth plans."
    Prior to joining Midas, Shaneyfelt served for 12 years in various management posts at Pep Boys-Manny, Moe & Jack, Inc., including as vice president of operations for the southern division and vice president of sales. He previously spent 15 years in automotive operations at Kmart.

    Midas is one of the world's largest providers of automotive service, offering exhaust, brake, steering and suspension services, as well as batteries, climate control and maintenance services at 2,700 franchised and licensed Midas shops in 19 countries, including nearly 2,000 in the United States and Canada.

    NOTE: This news release contains certain forward-looking statements that are based on management's beliefs as well as assumptions made by and information currently available to management. Such statements are subject to risks and uncertainties, both known and unknown, that could cause actual results, performance or achievement to vary materially from those expressed or implied in the forward-looking statements. The company may experience significant fluctuations in future results, performance or achievements due to a number of economic, competitive, governmental, technological or other factors. Additional information with respect to these and other factors, which could materially affect the company and its operations, is included in the company's filings with the Securities and Exchange Commission, including the company's 2001 annual report on Form 10-K.