Grease Monkey To Purchase 17 Indy Lube Centers

Grease Monkey International, Inc., the nation's largest independent automotive preventive maintenance franchisor, announced today that it has agreed to purchase, through an affiliate, 17 Indy Lube centers located in central Indiana. Indy Lube is a national quick lube franchise organization, with operations in multiple states throughout the Midwest. "Grease Monkey International, Inc. is pleased to continue our growth by adding 17 preventive maintenance centers in Indiana to our organization," says Rex L. Utsler, President. "The location of these centers will enhance our ability to market the Grease Monkey brand effectively in the Midwest." The closing of this transaction is expected to occur on or about August 1, 2001. Grease Monkey will operate the centers in Indiana under a Management Agreement effective July 1, 2001. Founded in 1978, Grease Monkey International, Inc. currently has more than 220 centers operating in the United States and Mexico.

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