Pep Boys to Present at Thomas Weisel Partners Consumer Conference; Chairman and CEO Larry Stevenson Comments on Trends

PHILADELPHIA--Sept. 24, 2004--The Pep Boys - Manny, Moe & Jack , the nation's leading automotive aftermarket and service chain, today announced that it will participate in the Thomas Weisel Partners Consumer Conference on Monday, September 27, 2004 in New York.

Larry Stevenson, Chairman and CEO, and Harry Yanowitz, CFO, will present an overview of the Company's business and discuss operating trends, commented on below, at 10:00 am Eastern Time. A live webcast and a copy of the presentation will be available directly at http://www.visualwebcaster.com/event.asp?id=24634 or from a link on the Company's homepage at pepboys.com. The webcast will be archived for future replay for approximately 30 days.

Consistent with previous remarks, Pep Boys Chairman and CEO Larry Stevenson will comment: "High gas prices and slow consumer spending have created headwinds in our sector throughout the summer. These trends have continued since the close of our last quarter and will have a similar impact on this quarter's results, including a similar erosion in operating margins. As well, it is important to note that we expect that our service business will take a number of quarters to regain significant traction."

Mr. Stevenson notes, "Our retail business continues to perform well. We are building the best service and retail teams in the business and believe that our unique customer offering, including new and exciting merchandise, our store refurbishment program, and long-term service initiatives will provide significant growth opportunities."

Pep Boys has 595 stores and more than 6,000 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.

Certain statements contained herein constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The word "guidance," "expect," "anticipate," "estimates," "forecasts" and similar expressions are intended to identify such forward-looking statements. Forward-looking statements include management's expectations regarding future financial performance, automotive aftermarket trends, levels of competition, business development activities, future capital expenditures, financing sources and availability and the effects of regulation and litigation. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. 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, retail and commercial consumers' ability to spend, the health of the various sectors of the automotive aftermarket, the weather in geographical regions with a high concentration of the Company's stores, competitive pricing, the location and number of competitors' stores, product and labor costs and the additional factors described in the Company's filings with the SEC. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.