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Precision Auto Care Announces First Quarter FY 05 Results

LEESBURG, Va., Nov. 10, 2004 -- Precision Auto Care, Inc. (BULLETIN BOARD: PACI) announced its financial results for the first quarter of fiscal year ending June 30, 2005. Revenues were $3.7 million and profits were $1.3 million, or $0.05 per share, compared with a profit of $291,000, or $0.02 per share, on revenues of $3.2 million for the same period in the prior year.

The Company's President, Robert Falconi, stated, "PACI continues to perform well. This is the eighth consecutive quarter that the Company's operating results have been profitable. Operating profits were very close to $1 million due in large part to the sale of the rights to the Seattle market and due to the fact that the Company's day to day operating model works. I have every reason to believe that the Company will stay profitable throughout FY05."

Lou Brown, Chairman and CEO of PACI, said, "The Board of Directors is very pleased with the Company's first quarter operating results. PACI's balance sheet gets stronger every quarter even as the Company continues to invest in growth."

Precision Auto Care, Inc.'s affiliate, Precision Franchising LLC, is one of the world's leading franchisors of auto care centers, with 428 operating centers as of November 10, 2004. The Company franchises Precision Tune Auto Care centers around the world.

                                      Three Months Ending September 30th

  000s except per share amounts

                                                    2004          2003
   Revenue                                        $3,714        $3,177
   Net income                                     $1,255          $291
   Diluted income per share                        $0.05         $0.01
   Shares outstanding - diluted                   26,399        21,769