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Lucor Reports 44 Percent Increase in Revenue for Second Quarter 1999

6 August 1999

Lucor Reports 44 Percent Increase in Revenue for Second Quarter 1999

    RALEIGH, N.C., Aug. 5 -- Lucor, Inc. ,
the largest Jiffy Lube franchisee in the United States, today announced
second quarter 1999 revenues of $21.6 million, a gain of 44 percent over
$15.0 million in the second quarter of 1998.
    Stephen P. Conway, Chairman and Chief Executive Officer, attributed the
increase in revenues to the acquisition of 73 outlets that Lucor began
operating in April and May, in addition to strong same-store sales growth.
"We are extremely pleased with the performance of our new outlets.  Since
acquiring them, their revenues have increased by an average of 21 percent."
    "Our existing store base also performed well during the second quarter of
1999, with same-store revenue growth of 5 percent," commented Mr. Conway.
"This is a very good indication that our marketing initiatives and operating
procedures are being well received and executed in the marketplace."
    Lucor will be announcing its financial results for the second quarter 1999
on August 13 and expects to report a return to profitability.
    At the end of the second quarter, Lucor had 190 Jiffy Lube outlets, up
from 128 at the end of the last financial year.  The Company has a long-range
objective of operating 300 outlets.

    Except for the historical information contained in this news release, the
matters discussed in this news release are "forward-looking statements" within
the meaning of the federal securities law and are not guarantees of future
performance.  For a variety of reasons, the company's actual results could
differ materially from any forward-looking statements made in this news
release.  Among the factors that could cause actual results to differ from
predicted or expected results are the following: the company's ability to
effectively integrate acquired companies and the effects of increased
indebtedness as a result of the company's acquisitions; a decline in the
demand for lube service, which could materially adversely affect the company's
revenues; the possibility that regulatory changes and unforeseen events could
impact the company's ability to provide products and services to its
customers; existing competition from national and regional competitors and the
condition of the auto industry, which could result in pricing, supply and
demand, and other pressures on profitability and market share; and other risks
and uncertainties set forth in the company's filings with the Securities and
Exchange Commission, including but not limited to the company's annual report
on Form 10-K for the year ending December 31, 1998.  Consequently, the reader
is cautioned to consider all forward-looking statements in light of the risks
to which they are subject.