---

AutoZone Announces Successful Consent Solicitation

10 August 1998

AutoZone Announces Successful Consent Solicitation For Chief Auto Parts 10 1/2% Senior Notes Due 2005

    MEMPHIS, Tenn, Aug. 7 -- AutoZone, Inc. announced
that as of 5 p.m., New York City time, August 7, 1998, it had received tenders
and consents with respect to a majority of the 10 1/2% Senior Notes due 2005
of its wholly-owned subsidiary Chief Auto Parts Inc.
    Accordingly, upon the terms and subject to the conditions set forth in the
Offer to Purchase and Consent Solicitation Statement dated July 24, 1998,
Chief Auto Parts Inc. and the indenture trustee have signed a supplemental
indenture that eliminates the restrictive covenants and makes certain other
related amendments to the indenture governing the Notes. The amendments
implemented by the supplemental indenture will not become operative until
AutoZone accepts the validly tendered Notes following the expiration of the
offer to purchase the Notes at 5 p.m., New York City time, August 21, 1998,
unless extended. Holders that have not tendered their Notes may do so until
the expiration date, but will not receive the consent payment. The
consideration to be paid will be calculated at noon, New York City time, on
August 19, 1998, unless the expiration date for the tender offer is extended.
    Merrill Lynch & Co. (telephone: (888) 654-8637) and Goldman, Sachs & Co.
(telephone: (800) 323-5678) are the Dealer Managers. Beacon Hill Partners
(telephone: (800) 755-5001) is the Information Agent.
    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.