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AutoZone And Chief Announce Expiration Of Waiting Period

22 June 1998

AutoZone And Chief Announce Expiration Of Waiting Period

    MEMPHIS, Tenn., June 19 -- AutoZone, Inc. , and
Chief Auto Parts, Inc. announced today that the required waiting period under
the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired with
respect to the pending acquisition of Chief by AutoZone. Subject to customary
closing conditions, the companies anticipate closing the transaction in the
next few weeks.
    Dallas-based Chief owns 556 auto parts stores, primarily in California and
Texas.
    AutoZone sells auto and light truck parts, chemicals and accessories
through 2,001 stores in 38 states. AutoZone also sells heavy-duty truck parts
through 43 TruckPro stores in 14 states and automotive diagnostic and repair
software through ALLDATA.
    Certain statements contained in this press release are forward-looking
statements. These statements discuss, among other things, expected growth,
store development and expansion strategy, business strategies, future revenues
and future performance. The forward-looking statements are subject to risks,
uncertainties and assumptions including, but not limited to, competitive
pressures, demand for the company's products, the market for auto parts, the
economy in general, inflation, consumer debt levels and the weather. Actual
results may materially differ from anticipated results described in these
forward-looking statements.