Aftermarket Technology Corp. Reaffirms Earnings and Announces Resumption Of Stock Buyback Program

WESTMONT, Ill., Oct. 8 Aftermarket Technology Corp., today announced that it was reaffirming its full year 2002 estimate of $1.90 earnings per share. For the third quarter, the Company expects to earn $0.48-$0.50 per share before nonrecurring income.

In addition, the Company announced its resumption of the stock buyback program initially commenced in January 2001. Of the one million shares authorized by the Board of Directors at that time, approximately 439,000 shares have been repurchased to date with another 561,000 shares remaining for repurchase. Such purchases may be made from time to time in the open market, through privately negotiated transactions or through block purchases. The program will be conducted in accordance with the Securities and Exchange Commission's Rule 10b-18, subject to market conditions, applicable legal requirements and other factors.

The Company also announced that it has extended its agreement with the National AAMCO Dealers Association (NADA) to provide remanufactured transmission units for another five years. Mike DuBose, Chairman, President and CEO said, "I am pleased to extend our partnership with NADA as it represents one of our initial key vehicles for growth in this important segment."

In other news, ATC announced the appointment of William (Bill) Hale as Vice President, Business Development, ATC Logistics. Bill joins ATC with over 25 years of business development and sales management experience in the transportation and logistics industries. Bill spent nearly 20 years at FedEx and most recently served as Director of Market Development for Convergys Corporation. Mike DuBose commented, "We recently hired Bill Conley to assume leadership of our ATC Logistics segment. The addition of a second, seasoned logistics executive such as Bill Hale both solidifies and energizes our commitment to organic growth in this business segment."

ATC is headquartered in Westmont, Illinois. The Company's operations include drivetrain remanufacturing, third party logistics, electronics remanufacturing and reverse logistics services.