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Trak Auto Corporation Earnings

16 September 1998

Trak Auto Corporation Earnings

    LANDOVER, Md., Sept. 16 -- Trak Auto Corporation ("Trak
Auto") , announced a net loss for the 26 weeks ended August 1,
1998 of $4,526,000 or $.77 per share compared to a net loss of $1,641,000 or
$.28 per share for the same period one year ago and a net loss for the 13
weeks ended August 1, 1998 of $1,752,000 or $.30 per share compared to a net
loss of $943,000 or $.16 per share for the same period one year ago.  The
losses for the 26 weeks and 13 weeks ended August 1, 1998 included $4,000,000
and $2,000,000, respectively, pre-tax provisions for the settlement of
litigation.
    Sales for the 26 weeks and 13 weeks ended August 1, 1998 decreased 34.7%
to $112,394,000 and $59,071,000, respectively, compared to sales of
$172,128,000 and $90,523,000 for the 26 weeks and 13 weeks ended August 2,
1997, respectively.  The decreases were primarily due to the sale of its
California operations in December 1997 and closure of its Pittsburgh,
Pennsylvania stores on January 31, 1998.  These closed markets represented
approximately $56,600,000 and $28,600,000 in sales during the 26 weeks and 13
weeks ended August 2, 1997, respectively.  Comparable sales (stores open more
than one year) decreased 4.1% and 5.6% in the 26 weeks and 13 weeks ended
August 1, 1998, respectively, compared to the 26 weeks and 13 weeks ended
August 2, 1997.  The decrease in comparable sales were primarily due to an
increase in competition in the markets in which the Company operates.  Sales
for Super Trak and Super Trak Warehouse stores represented 73.0% and 73.3% of
total sales during the 26 weeks and 13 weeks ended August 1, 1998 compared to
68.7% and 71.5% for the 26 weeks and 13 weeks ended August 2, 1997.
    Trak Auto currently operates 177 stores, including 90 Super Trak stores
and 26 Super Trak Warehouse stores in the Washington, D.C.; Richmond,
Virginia; central Pennsylvania; Chicago, Illinois; and Milwaukee, Wisconsin
markets compared with 288 stores including 128 Super Trak stores and 45 Super
Trak Warehouse stores in operation one year ago.

                            TRAK AUTO CORPORATION
                                (in Thousands)
                         (except Earnings per Share)

                          Thirteen Weeks Ended        Twenty-Six Weeks Ended
                          August 1,  August 2,        August 1,    August 2,
                            1998       1997             1998          1997

    Sales                 $59,071    $90,523          $112,394     $172,128

    Loss before
      income taxes         $3,146     $2,017            $7,481       $2,973

    Net Loss               $1,752       $943            $4,526       $1,641

    Loss per share           $.30       $.16              $.77         $.28

    Weighted average
      shares outstanding    5,909      5,909             5,909        5,909