Automotive Service Centers Inc. Acquires Four Midas Locations in Jacksonville Area and Sets Opening of New Store in Zephyrhills.

CLEARWATER, Fla.--(BUSINESS WIRE)--Jan. 8, 1999--

-- New Midas Network Grows to 64 Stores Statewide --

Automotive Service Centers Inc. (ASCI), a management company of branded automotive service and repair concepts, announced the acquisition of four additional Midas franchise locations in the Jacksonville area.

The company also announced the opening of a new Midas store in Zephyrhills. ASCI now owns and operates a total of 64 Midas service centers throughout the state of Florida.

The newly acquired Midas stores are located as follows:

-- Jacksonville, Fla. - 7462 Lem Turner Rd.

-- Jacksonville, Fla. - 4237 Blanding Blvd.

-- Orange Park, Fla. - 214 Blanding Blvd.

-- St. Augustine, Fla. - 2560 U.S. Highway 1 South

"We are excited to expand our Midas network in Jacksonville, Orange Park and St. Augustine," said Steven A. Uiterwyk, chief executive officer of ASCI. "North Florida is an important market for our company's growth. We see an opportunity to build several more Midas service centers in the greater Jacksonville area, and we are actively looking for new sites."

In Zephyrhills, the new Midas under construction at 6530 Gall Boulevard represents the first newly opened store since ASCI began acquiring and consolidating its Midas network last July. "We believe the growth in and around Zephyrhills will help make this one of our best locations when it opens on February 1, 1999," said Uiterwyk.

Automotive Service Centers Inc. is headquartered in Clearwater. The company was formed in 1998 to acquire and consolidate automotive service and repair concepts, initially focusing on Midas shops in the southeastern United States. With approximately 400 employees and $40 million in annual sales, ASCI has assembled the second largest network of Midas stores in the United States.