Midas to Discuss Strong Fourth Quarter Comparable Shop Sales at Sidoti Emerging Growth Forum; Company Also Expands Options for Exit from Exhaust Business, Reduces Debt Level

ITASCA, Ill.--Jan. 18, 2005--Midas, Inc. will present at the Sidoti & Company Emerging Growth Forum in Palm Beach, Fla., today (Tuesday, Jan. 18).

Alan Feldman, Midas' president and chief executive officer, and William Guzik, senior vice president and chief financial officer, will lead the presentation to institutional investors.

Midas will report that comparable shop sales in North America increased by approximately four percent during the fourth quarter ended Jan. 1, 2005. Midas' U.S. shops have now reported seven consecutive quarters of positive comparable sales.

Midas also said the company has expanded its discussions for an alliance partner for its exhaust business to include additional companies. Midas had announced last October that it was in discussions to sell its IPC-brand exhaust business and to exit exhaust manufacturing.

"We are continuing to evaluate options that enable Midas to exit the unprofitable manufacturing business, while assuring a continuing source of supply of competitively priced exhaust products for Midas shops and IPC customers," Feldman said.

Feldman said there is no specific timeline for completing discussions with potential partners.

Midas also said the company reduced its bank debt level by an additional $7.3 million in the fourth quarter to $69.0 million, bringing the 2004 full-year bank debt reduction to $22.5 million. Bank debt was at $91.5 million at the end of 2003.

The company will report its 2004 fourth quarter and full-year results in early March.

Midas is one of the world's largest providers of automotive service, offering brake, exhaust, maintenance, tires, steering and suspension services at more than 2,600 franchised, licensed and company-owned Midas shops in 19 countries, including nearly 1,900 in the United States and Canada.

NOTE: This news release contains certain forward-looking statements that are based on management's beliefs as well as assumptions made by and information currently available to management. Such statements are subject to risks and uncertainties, both known and unknown, that could cause actual results, performance or achievement to vary materially from those expressed or implied in the forward-looking statements. The company may experience significant fluctuations in future results, performance or achievements due to a number of economic, competitive, governmental, technological or other factors. Additional information with respect to these and other factors, which could materially affect the company and its operations, is included in the company's filings with the Securities and Exchange Commission, including the company's 2003 annual report on Form 10-K and subsequent filings.