---

FinishMaster Announces First Quarter Results

10 May 2000

FinishMaster Announces First Quarter Results

    INDIANAPOLIS--May 9, 2000--FinishMaster, Inc. , the leading national distributor of automotive paints and related accessories, reported today that net income for the three months ended March 31, 2000 was $904,000 on net sales of $84,670,000, compared to net income of $1,176,000 on net sales of $80,106,000 in the prior year.
    Earnings per share were $0.12 compared to $0.16 in the prior year.
    "We are encouraged with our top line sales growth of 5.7% in what is viewed as a flat market," stated Wes N. Dearbaugh, President and COO. "Our disappointment is that operating expenses increased at a faster rate than net sales. Our focus and challenge is to improve the service and value delivered to our customers at an expense rate that achieves our profit goals. Management is implementing actions to reduce expenses and improve profitability."

                  Selected Historical Financial Data
                (000's omitted, except per share data)

                                      Three Months Ended March 31,
                                        2000               1999
                                        ----               ----
Net sales                             $ 84,670           $ 80,106
Gross margin                            29,933             28,620
Total expenses                          25,290             23,547
Income from operations                   4,643              5,073
Interest expense                         2,888              2,747
Income tax expense                         851              1,150
Net income                            $    904           $  1,176
Earnings per share-diluted            $   0.12           $   0.16
Wtd. avg. shares outstanding-diluted     7,572              7,543
EBITDA                                $  7,076           $  7,702