American Tire Distributors Acquires Target Tire.

CHARLOTTE, N.C. -- American Tire Distributors, Inc. ("American Tire Distributors") announced today that they have completed the acquisition of Target Tire, Inc. ("Target Tire"). This acquisition will expand American Tire Distributors' service level across the southeastern U.S.

"The biggest winners, as a result of this combination, will be the tire retailers that both companies currently serve," said Richard P. "Dick" Johnson, Chairman and Chief Executive Officer of American Tire Distributors. "By combining American Tire Distributors and Target Tire, we will realize many operational efficiencies. As we realize these efficiencies, both American Tire Distributors and our loyal customers will be better positioned to compete with the chain retailers that continue to expand within the marketplace."

Target Tire currently operates eleven distribution centers across Georgia, North Carolina, South Carolina, Tennessee, and Virginia. These eleven distribution centers service approximately 1,800 customers across the above five states, as well as portions of Kentucky and West Virginia. American Tire Distributors did not acquire the six "Buffalo Tire" retail operations. Mr. Johnson stated, "We remain committed to our independent dealers by not competing with them. We will not sell tires to our dealers on one side of the street, while at the same time open a store across the street to put them out of business."

Leonard "Bucky" Stein started the foundation of Target Tire by acquiring Avalon Tire in South Carolina in the 1960's. Bucky and his son Howard Stein have spent the last 40 years building the Target Tire organization. Bucky commented, "Both American Tire Distributors and Target Tire have succeeded by offering high levels of customer service, along with sales tools and programs to help the tire dealer build and maintain a successful business. I know this focus will remain as we combine the organizations." Bucky and Howard will be involved with transitioning the business to American Tire Distributors. Mr. Johnson also added, "American Tire Distributors will be fortunate to strengthen our organization through the addition of Target's management group."

About American Tire Distributors

American Tire Distributors is one of the nation's largest independent suppliers of tires to the replacement tire market. American Tire Distributors operates 69 distribution centers servicing 38 states. The company focuses on helping tire and wheel retail dealers compete with larger retailers by offering the most complete, coast-to-coast selection of tires, wheels and related products and value-added services. American Tire Distributors employs over 2,000 employees across its nationwide distribution center network, including 200 people in its Charlotte-area Field Support Center, distribution center and regional hub.