Monro Muffler Brake, Inc. Appoints Two Independent Directors

    ROCHESTER, N.Y.--Jan. 16, 2003--Monro Muffler Brake, Inc. today announced that Robert E. Mellor and Richard A. Berenson had been appointed to the Company's Board of Directors effective November 14, 2002.
    Mr. Berenson has assumed the additional role of Chairman of the Audit Committee. In addition, W. Gary Wood has retired from the Company's Board of Directors.
    "I would like to take this opportunity to thank Gary for his significant contributions to Monro during the past ten years. We wish him the very best," said Robert G. Gross, President and Chief Executive Officer. "I am pleased to announce that the appointment of Messrs. Mellor and Berenson completes the reconfiguration of our Board of Directors, which is now comprised of a majority of independent directors. In addition, our Audit and Compensation Committees are comprised solely of independent directors."
    Richard Berenson, age 67, has over 40 years of accounting experience in a wide range of industries including insurance, recreation, investment banking, construction, manufacturing and the textile industry. He is a Certified Public Accountant and former Managing Partner at Berenson & Company, a full service accounting firm located in New York City. In addition to his work at Berenson & Company, Mr. Berenson has served as Vice President and Director of the New York State Society of CPAs and is on the Board of Directors of the National Conference of CPA Practitioners.
    Robert Mellor, age 59, is currently Chairman, President and Chief Executive Officer of Building Materials Holding Corporation . Headquartered in San Francisco, BMHC is a public company with annual sales in excess of $1 billion and is involved in building materials distribution, component manufacturing and construction services. Prior to BMHC, Mr. Mellor was the Executive Vice President and Director of Di Giorgio Corporation. In addition to his operational experience, Mr. Mellor also serves on the Board of Coeur D'Alene Mines Corporation and The Ryland Group, Inc. and was formerly of counsel in the San Francisco office of Gibson, Dunn & Crutcher LLP.

    Monro Muffler Brake operates a chain of stores providing automotive undercar repair and tire services in the United States, operating under the brand names of Monro Muffler Brake and Service, Speedy Auto Service by Monro, Kimmel Tires - Auto Service and Tread Quarters Discount Tires. The Company currently operates 550 stores and has 19 dealer locations in New York, Pennsylvania, Ohio, Connecticut, Massachusetts, West Virginia, Virginia, Maryland, Vermont, New Hampshire, New Jersey, North Carolina, South Carolina, Indiana, Rhode Island, Delaware and Michigan. Monro's stores provide a full range of services for exhaust systems, brake systems, steering and suspension systems and many vehicle maintenance services.

    Certain statements made above may be forward-looking and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve uncertainties, which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties include, but are not necessarily limited to, uncertainties affecting retail generally (such as consumer confidence and demand for auto repair); risks relating to leverage and debt service (including sensitivity to fluctuations in interest rates); dependence on, and competition within, the primary markets in which the Company's stores are located; the need for, and costs associated with, store renovations and other capital expenditures; risks relating to integration of the acquired business; and the risks described from time to time in the Company's SEC reports which include the report on Form 10K for the fiscal year ended March 30, 2002.