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Discount Auto Pursues Sale/Leaseback Transaction

3 February 2000

Discount Auto Pursues Sale/Leaseback Transaction

    LAKELAND, Fla.--Feb. 3, 2000--Discount Auto Parts Inc. announced today that it had engaged Banc of America Securities to assist in the structuring and arranging of a sale/leaseback transaction.
    The transaction is expected to involve approximately 100 to 140 of Discount's retail store locations, and is expected to provide Discount with approximately $75 million in net proceeds. Plans are to secure a commitment for a sale/leaseback transaction within 2 months and to close the transaction prior to Discount's fiscal year end in May 2000.
    "The proposed transaction is designed to take advantage of new funding alternatives not previously utilized by Discount, as well as unlocking some of the unrealized appreciation in the Company's real estate", said C. Michael Moore, Chief Financial Officer. "Banc of America Securities' expertise in this area should enable Discount to competitively and efficiently complete the transaction".
    Discount Auto Parts is one of the southeast's leading specialty retailers and suppliers of automotive replacement parts, maintenance items and accessories to both the DIY consumers and professional mechanics and service technicians. The Company currently operates over 600 stores located throughout Florida, Georgia, Mississippi, Alabama, Louisiana and South Carolina.

Forward Looking Statements

    This release may contain forward-looking statements, which reflect the current views of the Company with respect to certain events that could have an effect on the Company's future financial performance. These statements include the words "expected", "should", and similar expressions. Any such forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Please refer to the Company's most recent reports on Form 10-K and Form 10-Q and other filings with the Securities and Exchange Commission for more specific information concerning these risks and uncertainties.