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TBC To Record Litigation Charge for Second Quarter

5 July 1999

TBC To Record Litigation Charge for Second Quarter

    MEMPHIS, Tenn.--July 2, 1999--TBC Corporation today indicated that it will record an after-tax charge for the second quarter of approximately $2.8 million, or $0.13 per share, related to a judgment in litigation with a former distributor. The litigation, which was initiated in 1989, involved a note receivable that TBC held from the business formerly operated by that distributor.
    TBC Corporation, based in Memphis, Tennessee, is one of the nation's largest marketers and distributors of private brand tires for the automotive replacement market.
    Statements in this press release or otherwise attributable to the Company regarding the Company's business which are not historical fact, including those regarding growth in its business, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Many factors could cause the Company's actual results to differ materially from those expressed in the forward-looking statements made by or on behalf of the Company including, without limitation, trends in consumer demand for replacement tires, changes in tire prices, the availability of tires from suppliers, the impact of competitive tire brands, the ability to achieve and manage growth, and other risks detailed in the Company's Annual Report on Form 10K and other filings with the SEC.