ABRA Auto Body & Glass acquires 8 Franchise stores in Memphis, TN.

MINNEAPOLIS--(BUSINESS WIRE)--March 9, 1999--ABRA Auto Body & Glass, LLC, the nation's leader in damaged vehicle repair, today announced the acquisition of seven ABRA franchise collision repair facilities and one auto glass replacement and repair facility in the Memphis, TN area. Seven of the stores acquired are in the greater Memphis area and the eighth in Horn Lake, MS.

Franchise owners Mike Ormiston, John Christiansen, and John Welch, who opened the first independent ABRA franchise in Tennessee in 1989, have sold their eight locations to ABRA Auto Body & Glass, LLC and will be retained in managerial positions with the national collision repair organization.

"These are exciting times in this industry and at ABRA," Ormiston said of his decision to sell to ABRA Auto Body & Glass, LLC. "We are delighted to join ABRA as corporate stores, which we believe will only enhance our own market position."

Welch added, "Having established a solid foundation for collision repair in this market, joining ABRA as a corporate store will only strengthen our presence and profitability by investing capital for improvements and expansion."

Founded in Minneapolis, MN, in 1984, ABRA Auto Body & Glass, LLC is a full service collision repair, paintless dent repair and auto glass replacement and repair company. ABRA operates 64 collision repair facilities in 12 states.

"This major strategic acquisition further enhances ABRA's position as the leader in the collision and auto glass industry," stated Rollie Benjamin, President and Chief Executive Officer of ABRA Auto Body & Glass, LLC. "Their professional staff and market leadership fits perfectly with our corporate growth strategy."

"Our employees are very important to us, and many of them have been with us since we started the business in 1989," stated John Christiansen. "We believe this move will create more opportunities for our valued team members."

Terms of the acquisition were not disclosed.

About ABRA Auto Body & Glass, LLC

ABRA Auto Body & Glass, LLC provides repair services for damaged vehicles featuring full service collision repair, paintless dent repair, and auto glass replacement and repair. A leader in a consolidating industry, ABRA is capitalizing on its well developed infrastructure to pursue an aggressive growth strategy. Utilizing a combination of acquisitions, and new construction in large markets and franchising in smaller markets, ABRA expects to grow to over 200 locations during the next three years. Privately held, ABRA employs over 800 and operates 64 locations in 12 states. The principle stockholders are Rollie Benjamin, Tim Adelmann , GE Capital Corporation and Firemark Advisors, Inc. Calls are encouraged and welcome. Rollie Benjamin (CEO), Tim Adelmann (COO), and Duane Rouse (CFO) can be reached at [phone]. E-mail can be sent to [e-mail].