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AutoZone Announces Approval For Second Stock Repurchase

21 October 1998

AutoZone Announces Approval For Second Stock Repurchase

    MEMPHIS, Tenn., Oct. 20 -- John C. Adams Jr., chairman and
chief executive officer of AutoZone, Inc. (NYSE symbol: AZO), announced that
the AutoZone board of directors, at a regularly scheduled board meeting,
approved the repurchase of up to $150 million of the company's common stock in
the open market. This is in addition to the $100 million approved repurchase
announced in January, 1998.
    To date, AutoZone has purchased in excess of $70 million worth of its
common stock in conjunction with the original stock repurchase announced in
January.
    AutoZone sells auto and light truck parts, chemicals and accessories
through 2,114 AutoZone stores in 38 states and 543 Chief stores in 5 states.
AutoZone also sells heavy-duty truck parts through 43 TruckPro stores in 14
states, and automotive diagnostic and repair software through ALLDATA.