Grease Monkey International Announces Plan To Sell Company-owned Centers

DENVER | Tuesday, April 23, 2002

Grease Monkey International, Inc. (GMI) announced that it will restructure its operations to provide greater emphasis and corporate focus on the growth of its franchise organization. The initial implementation of the plan will include franchising of the 31 Grease Monkey centers currently owned and operated by the Company. The centers currently owned by GMI are located in Colorado (20), Washington (9), New Jersey (1) and Texas (1). "We strongly believe in the franchise concept as the best ownership model for successfully operating great customer service facilities," says Rex L. Utsler, President of Grease Monkey International, Inc. "As a result of this effort, Grease Monkey International, Inc. will emerge as an even more important factor in the future of the automotive preventive maintenance industry. We are very proud that we have successfully developed some of the most profitable centers in the Grease Monkey system and the industry. This will allow the Company to take advantage of the value created in its company- owned operations to streamline our organization and concentrate our focus on the very significant opportunities for growth that currently exist in our industry through building on our existing franchise concept." The Company anticipates that the majority of its employees impacted by this restructuring process will be retained by the acquiring franchisees or be reassigned to franchise support roles. "Obviously, the effect on our employees is a major concern that I have in implementing this plan. We are going to work closely with the franchise owners to ensure a smooth and seamless transition to the new structure, with minimal impact on our employees and our customers. Our intention is to continue providing the world-class service that our customers rely on without interruption," Utsler stated. "This plan ultimately will make the Grease Monkey system a stronger organization." Grease Monkey centers offer most of the preventive maintenance services required to maintain vehicle manufacturers' warranty requirements, with no appointment necessary. Founded in 1978, Grease Monkey International, Inc. has 250 centers operating in the United States and Mexico. To find the nearest Grease Monkey center, call 800-822-7706.

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Grease Monkey Franchising, LLC
5575 DTC Pkwy., #100
Greenwood Village, CO

Phone: (303)308-1660
Toll Free: (800) 822-7706
Fax: (303)308-5906

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