Pep Boys Continues to Strengthen Industry-Leading Corporate Governance Policies

The Pep Boys – Manny, Moe & Jack (NYSE: PBY), the nation's leading automotive aftermarket service and retail chain, today announced the amendment of its bylaws to give shareholders holding 15% of the Company’s stock the right to call a special meeting.

“Good governance is something that we practice every day at Pep Boys. We are very proud of our RiskMetrics Corporate Governance Quotient, which indicates that Pep Boys outperforms 97.8% of the Standard & Poor’s 600 Index,” said Max Lukens, chairman of the Board. “With the input of our shareholder, John Chevedden, the Board of Directors saw this amendment as an opportunity to further strengthen our policies.”

Pep Boys has approximately 6,000 service bays within over 580 retail stores located in 35 states and Puerto Rico. Along with its full-service vehicle maintenance and repair capabilities, the Company also serves the commercial auto parts delivery market and is one of the leading sellers of replacement tires in the United States. Customers can find the nearest location by calling 1-800-PEP-BOYS or by visiting www.pepboys.com.

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