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Earl Scheib Inc. Announces Chris Bement as New President and CEO

8 December 1998

Earl Scheib Inc. Announces Chris Bement as New President and CEO

    BEVERLY HILLS, Calif.--Dec. 7, 1998--Earl Scheib Inc. (AMEX:ESH) Monday announced that Chris Bement has been elected as president and chief executive officer, effective Jan. 1, 1999.
    Bement, 56 years old, has been executive vice president and chief operating officer since 1995 and a director since 1997. Prior to 1995, Bement spent most of his career with Thrifty Corp. in various executive positions. Bement succeeds Daniel A. Seigel, who will remain as a director of the company.
    Bement said: "I'm excited about this opportunity to continue the improvements and growth of the company. Earl Scheib Inc. has made great progress in the last few years, and I fully expect that to continue. I am also very pleased that Dan Seigel has agreed to remain as a director and investor in the company and to help during the transition."
    The company also named Philip W. Colburn as chairman of the board. Colburn, 69 years old, has served as a director of the company since 1992 and has more than 40 years of experience in the automotive industry.


    "Safe-harbor" statement under the Private Securities Litigation Reform Act of 1995: The statements that are not historical facts contained in this news release are forward-looking statements that involve risks and uncertainties, including but not limited to the effect of weather, the effect of economic conditions, the impact of competitive products, services and pricing, capacity and supply constraints or difficulties, changes in laws and regulations applicable to the company, the impact of year 2000 hardships, the impact of the company's new Euro Paint, the impact of advertising and promotional activities, the impact of the company's expansion and fleet sales, and the potential adverse effects of certain litigation.