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Genuine Parts Company Completes Acquisition Of EIS, Inc.

1 July 1998

Genuine Parts Company Completes Acquisition Of EIS, Inc.

    ATLANTA--July 1, 1998--Genuine Parts Company . Larry Prince, Chairman of the Board of Directors of Genuine Parts Company, announced today the completion of the previously announced acquisition of EIS, Inc. ("EIS"). Genuine Parts Company acquired EIS in exchange for a combination of cash and Genuine Parts Company stock, totaling approximately $200 million.
    EIS, Inc. founded in 1950 in Atlanta, is a leading wholesale distributor of materials and supplies to the electrical and electronic industries. Through a national network of 56 stocking locations, EIS offers its approximately 35,000 customers more than 75,000 line items from world class manufacturers. Sales for EIS are expected to be approximately $500 million in 1998.
    Genuine Parts Company, headquartered in Atlanta, is engaged in the distribution of automotive replacement parts from 62 NAPA Distribution Centers serving approximately 5,600 NAPA Auto Parts Stores nationwide, in Canada through its joint venture, NAPA/UAP, and in Mexico through its joint venture, Grupo Auto Todo. The company also distributes industrial replacement parts in the U.S. and Canada through its Motion Industries subsidiary and office supply products nationwide through its office products subsidiary, S.P. Richards Company.
    Prince stated, "We believe the acquisition of EIS offers us significant growth opportunity, and we are pleased to be associated with such a fine organization. We look forward to the contributions EIS will make to our sales and earnings growth."
    EIS Chairman and CEO, Steve Kendall, stated, "GPC brings a wealth of resources to EIS in the form of financing, systems, and management. We expect EIS to move to a significant new level in growth and profitability which will benefit both companies."
    Various statements in this release may constitute forward-looking statements. Actual results may differ materially from those indicated as a result of various important factors, which are discussed in Genuine Parts Company's most recent Annual Report on Form 10-K, and other filings with the Securities and Exchange Commission.