Pep Boys to Allow Shareholder Rights Plan to Lapse

PHILADELPHIA--The Pep Boys –Manny, Moe & Jack , the nation's leading automotive aftermarket retail and service chain, announced that its Board of Directors has determined to allow the Company’s Shareholder Rights Plan to expire, in accordance with its terms, on December 31, 2007.

Pep Boys has 593 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.