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Safelite Glass Corp. Completes $50 Million Equity Offering

1 February 1999

Safelite Glass Corp. Completes $50 Million Equity Offering

    COLUMBUS, Ohio, Feb. 1 -- SAFELITE GLASS CORP, announced
today that, on January 29, 1999, it completed an offering of 50,000 shares of
Series A Convertible Participating Preferred Stock, all of which were
purchased by existing stockholders at a price of $1000 per share.  The net
proceeds from the equity offering, together with the net proceeds from a
$55 million bond offering completed in December 1998, were used to repay
$61.4 million of term loans and $35.0 million of revolving credit loans under
the Company's senior credit facilities, with no reduction to the revolving
credit availability.
    Founded in 1947, Safelite is the largest provider of automotive glass
replacement and repair services and claims management solutions in the United
States.  The Company operates two manufacturing facilities, four national call
centers, 76 automotive glass warehouses, and 694 SAFELITE(R) AUTOGLASS service
centers in all 50 states.