Midas Shops Will Sell Bridgestone, Firestone Brand Tires in New Supply Arrangement

ITASCA, Ill.--Oct. 2, 20038, 2003--Midas, Inc. has entered into a strategic alliance with Bridgestone/Firestone North American Tire, LLC, (BFNT) that provides for 1,900 Midas automotive service shops in the United States and Canada to become authorized Bridgestone and Firestone brand dealers.

"The addition of these lines of well-respected brand tires at Midas shops is a major step in competing for maintenance and fleet business," said Alan D. Feldman, Midas' president and chief executive officer. "Although some of our dealers have previously offered tires, this new alliance marks the first system-wide tire program available to all Midas shops throughout North America."

Midas announced earlier this year that its near-term retail focus is on brakes, exhaust and maintenance services.

"Midas is the aftermarket leader in brakes and exhaust and we are positioning the Midas system to earn a growing share of the $28 billion maintenance market and the $6 billion fleet business," Feldman said.

"Midas dealers are looking forward to representing the Bridgestone and Firestone brands in the marketplace," said Joe Sipocz, Jr., Maryland Midas franchisee and president of the International Midas Dealers Association.

BFNT will supply tires to Midas shops from more than 5,000 of its dealers, company-owned stores and distributors in North America.

"Bridgestone/Firestone is extremely pleased to enter this new retail partnership with Midas," said John Gamauf, president, consumer replacement tires for BFNT. "We will be developing mutually beneficial working relationships between Midas dealers and the Bridgestone/Firestone tire distributors in local markets throughout the United States and Canada."

Midas shops will sell a full range of Bridgestone and Firestone brands tires for cars, light trucks, vans and SUVs at competitive prices. Midas customers will receive all Bridgestone/Firestone product warranties, including free tire replacement, mounting and balancing.

Midas is one of the world's largest providers of automotive service, offering exhaust, brake, steering and suspension services, as well as maintenance services at 2,700 franchised, licensed and company-owned Midas shops in 19 countries, including 1,900 in the United States and Canada.

Nashville-based Bridgestone/Firestone North America Tire LLC is a subsidiary of Bridgestone Americas Holding, Inc., whose parent Bridgestone Corporation of Japan is the world's largest tire and rubber company. BFNT develops, manufactures and markets Bridgestone, Firestone, Dayton and private and associate brand tires. The company is focused on wholesale and original equipment markets, supplying passenger, light truck, commercial vehicle, off-road, agricultural and other tires to its customers in North America.