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Safelite AutoGlass Emerges from Chapter 11 Process

2 October 2000

Safelite AutoGlass Emerges from Chapter 11 Process; Announces New Board of Directors

    COLUMBUS, Ohio, Oct. 2 Safelite Glass Corp. (D.B.A.
Safelite AutoGlass) announced that its Plan of Reorganization became effective
late on Friday, September 29, marking the Company's official emergence from
its voluntary Chapter 11 proceeding. The Company's plan had been approved by
more than 95% of its creditors and was confirmed on September 12 by the U. S.
Bankruptcy Court in Delaware. Reflecting the company's financial
restructuring, a new board of directors that represents the company's new
owners has also been named.
    "By completing our financial reorganization, Safelite moves forward with
significantly less debt and more cash available to fund improvements to our
operations, such as technology to provide faster, more convenient mobile
service; call center improvements to offer more complete claims solutions for
our insurance and fleet clients; and expansions to our wholesale business,"
said John Barlow, Safelite President and CEO. "All of these changes form a
strong foundation for growth as we move to realize our vision of becoming
America's first choice for auto glass repair and replacement services."
    "We are also proud to say that we have been able to continue to provide
excellent service to our customers throughout the restructuring process,"
Barlow continued. "Thanks to the support of our associates and vendors, we
were able to maintain customer satisfaction ratings of better than 98%."
    As part of the company's financial restructuring, a new Board of Directors
has also been announced. The new Board represents an important base of
knowledge in the automotive, insurance, manufacturing and retailing industries
that will benefit Safelite as the company continues to grow market share. The
new Board members include:

    CHAIRMAN - George T. Haymaker, Jr. of Kaiser Aluminum. The company is one
of the world's leading producers and marketers of aluminum.
    Wilson C. Cooney, former Deputy CEO of Property and Casualty Operations
for insurance and financial services holding company USAA (United Services
Automobile Association.) USAA provides insurance, investment, banking and
other services.
    Donald DeFosset, Jr., most recently Executive Vice President and Chief
Operating Officer of Dura Automotive Systems, Inc., a manufacturer of
mechanical assembly systems, components, hardware and cables for the auto
industry.
    James J. Gaffney, Chairman and President of Vermont Investments Ltd. Mr.
Gaffney was previously President and CEO of General Aquatics. He serves on
several corporate boards as well.
    Laurie M. Shahon, President and Founder of Wilton Capital since January
1994. Wilton Capital makes principal investments in later-stage venture
capital companies and medium-sized management buyouts. Ms. Shahon also serves
on the boards of several retail interests.
    Michael S. Wilder, who will be soon retiring from his position as Senior
Vice President and General Counsel of the Hartford Financial Services Group.
The Hartford offers personal, commercial, specialty and reinsurance property
and casualty coverage as well as life insurance, employee benefits, and asset
management plans.
    Other directors include Safelite President and CEO John Barlow, Safelite
CFO Doug Herron, and Safelite Senior Vice President Dan Wilson.
    Safelite AutoGlass filed a voluntary petition for reorganization under
Chapter 11 of the Bankruptcy Code on June 9, 2000. The Company completed today
all of the requirements to emerge from bankruptcy. This implementation of the
court-approved Plan of Reorganization brings to an end Safelite's financial
restructuring process.