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O'Reilly Announces Commencement of Public Offering of Common Stock

26 March 1999

O'Reilly Automotive, Inc. Announces Commencement of Public Offering of Common Stock

    SPRINGFIELD, Mo.--March 26, 1999--O'Reilly Automotive, Inc. (NASDAQ/NMS- ORLY) announced today that it has priced a public offering of 3,340,000 shares of Common Stock at a price of $37.25 per share. Of such shares 3,000,000 shares are being sold by the Company and 340,000 are being sold by selling shareholders.
    Donaldson, Lufkin & Jenrette Securities Corporation, George K. Baum & Company and William Blair & Company are the managing underwriters for the offering.
    Net proceeds of approximately $106.9 million from the sale of shares of common stock by the Company will be used to repay debt in order to facilitate future expansion of operations.
    O'Reilly Automotive, Inc. is a specialty retailer and supplier of automotive aftermarket parts, tools, supplies, equipment and accessories to both do-it-yourself customers and professional mechanics and service technicians. Founded in 1957 by the O'Reilly family, the Company currently operates 498 stores within the states of Texas, Missouri, Oklahoma, Kansas, Iowa, Arkansas, Louisiana, Nebraska and Illinois.
    Statements contained in this press release, which are not historical facts, are forward-looking statements. Such forward-looking statements are estimates reflecting the best judgement of the party making such statements based upon current information and involve a number of risks and uncertainties. Forward-looking statements contained in this press release or in other public statements of the Company should be considered in light of those factors. There can be no assurance that such factors will not affect the accuracy of such forward-looking statements. We assume no obligation to update these forward-looking statements.