Pep Boys Declares Quarterly Dividend; Dividends Paid Since 1950

    PHILADELPHIA--Sept. 10, 2002--The Pep Boys - Manny, Moe & Jack , the nation's leading full-service automotive aftermarket chain announced that its Board of Directors approved the payment of the next quarterly dividend of $.0675 per share on October 28, 2002, to holders of record on October 14, 2002. The annual dividend of $.27 per share currently yields 1.8%.
    With the Company's initial dividend being paid in 1950, Pep Boys has paid a cash dividend on an uninterrupted basis for 52 consecutive years.
    Pep Boys has 629 stores and over 6,500 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 pepboys.com.