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DIRECTORS ELECTED AT Hi/LO ANNUAL MEETING

 HOUSTON, May 18 /PRNewswire/ -- At the annual meeting of stockholders of Hi-Lo Automotive, Inc. (NYSE: HLO) held today, the company's current directors were re-elected to serve a one year term on the board of directors. The company's directors are: Richard Q. Armstrong, Charles P. Durkin, Jr., Daniel D. Floeck, Sr., Edward T. Story, Jr., James M. Turnbow and T. Michael Young.
 Stockholders also voted to amend the Hi-Lo Automotive, Inc. 1990 Stock Option Plan to increase the number of shares authorized for issuance under the plan from 800,000 to 1,100,000 shares of common stock and to provide annual stock option grants to non-employee directors of the company.
 T. Michael Young, chairman of the board, reported on the company's progress and future plans. Highlights for 1992 included the implementation of an everyday low pricing strategy and the opening of 15 new stores. The company achieved record levels of sales and net income during 1992.
 Young also commented on Hi/LO's completion in February 1993 of a secondary offering of 3,100,000 shares of common stock at a price of $19.25. Proceeds from the 1,000,000 shares sold by the company will primarily be used to continue an aggressive store opening program. He noted that Hi/LO plans to open an additional 15-19 stores in 1993. Three Hi/LO stores have opened to date, and the company has 12 store sites under construction or contract.
 Young stated, "Although first quarter sales were affected by general economic conditions and poor weather, we expect solid same store increases for the year."
 In a separate action, the company's board of directors filled several new officer positions.
 Lloyd M. Williams, vice president-Operations. In this position, Williams is responsible for Hi/LO's distribution and store operations. Prior to joining Hi/LO in December 1992 as vice president Distribution, Williams was employed with Wal-Mart Stores, Inc. for 23 years with experience in both store and distribution management. Reporting to Williams and serving as general manager-Distribution is David Naehring. Neahring joins Hi/LO as general manager-Distribution. Most recently, he was employed by Wal-Mart Stores as Distribution Division operations manager for technical training and total quality management.
 Edward P. Fabritiis, vice president-Human Resources. Fabritiis joined Hi/LO in July 1991 as manager, Human Resources, following 10 years of human resource experience with the Circle K Corporation.
 Steven A. Saterbak, controller and chief accounting officer. Saterbak joined Hi/LO in April 1990. He has served as controller- Accounting Operations for the company since December 1991.
 Hi-Lo Automotive, Inc. sells automotive parts, products and accessories to retail and commercial customers through its 132 stores in Texas and Louisiana.
 -0- 5/18/93
 /CONTACT: Gary D. Walther, Chief Financial Officer, Hi-Lo Automotive, Inc., 713-663-6700/
 (HLO)


CO: Hi-Lo Automotive, Inc. ST: Texas IN: AUT SU: PER

MM -- CH008 -- 9771 05/18/93 12:26 EDT
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Publication:PR Newswire
Date:May 18, 1993
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