CSK Auto Corporation Announces Proposed Private Offering of Exchangeable Senior Notes

PHOENIX--Dec. 1, 20053, 2005--CSK Auto Corporation , the parent company of CSK Auto, Inc. (the "Company"), a specialty retailer in the automotive aftermarket, announced today that, subject to market and other conditions, the Company intends to offer $85 million aggregate principal amount of exchangeable senior unsecured notes in a private offering to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended. The notes are exchangeable into shares of CSK Auto Corporation common stock. In addition, the Company expects to grant the initial purchaser of the notes an over-allotment option to purchase, within thirty days from the date of issuance, up to an additional $15 million aggregate principal amount of notes.

It is expected that the notes will pay cash interest through maturity, or the earlier exchange, redemption or repurchase of the notes. The exchange rate and other terms of the notes will be determined by negotiations between the Company and the initial purchaser of the notes.

The Company expects to use proceeds from the proposed note offering, together with availability under its existing senior credit facility, to fund the acquisition cost of CSK Auto Corporation's pending acquisition of Murray's Inc. If the acquisition of Murray's Inc. is not consummated, the Company intends to use the proceeds of the offering for general corporate purposes.