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The Parts Source, Inc. d/b/a Ace Auto Parts Announces Six Month Results

11 August 1997

The Parts Source, Inc. d/b/a Ace Auto Parts Announces Six Month Results

    CLEARWATER, Fla., Aug. 11 -- The Parts Source, Inc. d/b/a Ace
Auto Parts has reported that for the six months ended June 30,
1997 revenues rose approximately 56.4% to $19.9 million as compared to
$12.7 million for the same six month period of 1996.  Same store sales for the
six months ended June 30, 1997 were up 14.9% compared to the same period in
1996.  Net earnings for the six months was $74,519, or $.02 per share as
compared to pro forma net earnings of $95,780, or $.04 per share for the same
six month period of 1996.
    The Company's earnings were below expectations.  Management attributes
this to increased expenses incurred as a result of the Company's acquisition
program and the costs incurred in connection therewith.  The Company noted
that 14 of its 40 stores are in the first year of operation under Ace
Management.  Although the opening of new stores continued to have an adverse
effect on earnings, management believes it is in the long term interest of the
shareholders to continue the growth policy.  By increasing same store sales,
utilizing the recently added fixed overhead to manage the projected 6 to 8 new
stores by year end, and as new store sales volume increases, management
anticipates that expenses incurred in operating stores, as a percentage of
sales, will decrease.
    Some of the information in this press release constitutes forward-looking
information based on current information and expectations of the Company that
involve a number of uncertainties.  Among the factors that could materially
affect the validity of the forward-looking information are the following:
changes in current industry trends, changes in competitive factors, changes in
the economic environment in which the Company has its operations, and other
factors which would generally affect the operation of the Company.
    Ace Auto Parts is a specialty supplier and retailer of automotive
replacement parts, tools, supplies equipment and accessories to both
professional mechanics and do-it-yourself customers.  The Company presently
operates 40 stores in the state of Florida.

SOURCE  The Parts Source, Inc. d/b/a Ace Auto Parts