Pep Boys Announces Expiration of Tender Offer

PHILADELPHIA--Dec. 2, 20048, 2004--The Pep Boys - Manny, Moe & Jack , the nation's leading automotive aftermarket and service chain, announced the expiration of its previously announced cash tender offer (the "Offer") for any and all of its $100,000,000 aggregate principal amount 7% Notes due 2005 (CUSIP 713278AD1) (the "Securities") at 12:01 a.m., Eastern time, on December 28, 2004 (the "Expiration Time").

As of the Expiration Time, $59,556,000 in aggregate principal amount, or approximately 60% of the outstanding Securities had been validly tendered and not withdrawn. The Company accepted and made payment for the $59,556,000 of validly tendered Securities pursuant to the Offer.

This announcement is not an offer to purchase, a solicitation of an offer to sell or a solicitation of consent with respect to any securities.

About Pep Boys

Pep Boys has 595 stores and over 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.