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AutoZone Files $400 Million Shelf Registration

7 July 1998

AutoZone Files $400 Million Shelf Registration; Includes $200 Million Debenture Offering

    MEMPHIS, Tenn., July 6 -- AutoZone, Inc.
announced today that it filed a shelf registration statement with the
Securities and Exchange Commission. The filing, when effective, will permit
the offer and sale from time to time of up to $400 million of AutoZone's
securities, which may include debt securities, preferred stock, common stock,
debt warrants, equity warrants or units.
    The shelf registration statement includes a preliminary prospectus
supplement for an offering of $200 million of debentures. The debenture
offering will be made through an underwriting group managed by Merrill Lynch &
Co. Copies of the preliminary prospectus supplement relating to the debentures
will be available from Merrill Lynch & Co., 250 Vesey St., World Financial
Center, North Tower, New York, New York  10281-1327.
    Any offer of securities pursuant to the registration statement will be
made only by means of a prospectus. A registration statement relating to these
securities has been filed with the SEC but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.
    AutoZone sells auto and light truck parts, chemicals and accessories in 38
states through 2,001 AutoZone stores as of May 9, 1998, plus 560 Chief stores
acquired June 29, 1998. AutoZone also sells heavy-duty truck parts through 43
TruckPro stores in 14 states and automotive diagnostic and repair software
through ALLDATA.