AutoZone Hires Morgan Keegan to Advise on Sale of TruckPro; Announces New Senior Vice President - Marketing; Authorizes Additional Stock Repurchases

    MEMPHIS, Tenn., July 10 AutoZone, Inc. , today
announced that AutoZone has engaged Morgan Keegan & Company, Inc. to assist
the company with the sale of TruckPro, AutoZone's heavy-duty truck parts
subsidiary.

    The Company also announced that Lisa R. Kranc has been named senior vice
president, marketing, reporting to Steve Odland, chairman, president, and
chief executive officer.  Ms. Kranc began her career in brand marketing with
The Clorox Company and held various brand management and senior marketing
positions with Alberto Culver and Cadbury Schweppes.  She joined Giant Eagle,
Inc., a Pittsburgh-based supermarket retailer in 1992 as the vice president of
marketing and later joined southeast-based supermarket retailer Bruno's, Inc.
where she served as senior vice president of marketing.  Most recently, Ms.
Kranc was vice president of marketing for Hannaford Bros., a $3 billion
supermarket retailer based in Scarborough, Maine.  She received her
undergraduate degree from Brandeis University and has an MBA from Columbia
University.

    In addition, AutoZone's Board of Directors today authorized the repurchase
of an additional $100 million of the company's common stock.  The company has
nearly completed the repurchase of its previous authorization of $1.35
billion.  In connection with the ongoing share repurchase program, AutoZone
intends to adopt a plan, qualifying under Rule 10b5-1 of the Securities
Exchange Act of 1934, that would allow the Company to repurchase shares at
times when it would ordinarily not be in the market because of self-imposed
blackout periods.

    Separately, same store sales, or sales for domestic auto parts stores open
at least one year, increased 6% in the first half of the fourth quarter.
Furthermore, AutoZone's new merchandising initiatives have had a favorable
impact on gross margin and higher sales levels have resulted in positive
expense leverage.  Given current trends, the Company believes it is likely
that earnings, excluding the anticipated non-recurring charge announced on
June 8, 2001, will exceed the current First Call consensus of $0.96 per share.

    "We have accomplished a lot so far in the fourth quarter," said Steve
Odland.  "The impact of our new marketing and merchandising efforts is
encouraging and we look forward to the addition of Lisa Kranc to lead the
marketing team.  This is a new position at AutoZone and one that can make a
meaningful impact on sales.  We are making progress in addressing AutoZone's
under-performing assets and are pleased to have Morgan Keegan's expertise
working on the sale of TruckPro."

    Certain statements contained in this press release, including discussion
of future performance, are forward-looking statements that are not historical
fact.  These forward-looking statements are subject to risks, uncertainties
and assumptions, including, without limitation, competition, product demand,
the ability to hire and retain qualified employees, and the weather.  Actual
results may materially differ from anticipated results.  Please refer to the
Risk Factors section of Form 10-K for the year ended August 26, 2000, for more
details related to these risks.  The Company undertakes no obligation to
publicly release any revision to any forward-looking statement contained in
this press release to reflect events occurring, or information known, after
the date of this release.
    AutoZone sells auto and light truck parts, chemicals and accessories
through over 3,000 AutoZone stores in 42 states plus the District of Columbia
in the U.S. and 16 AutoZone stores in Mexico. AutoZone also sells heavy-duty
truck parts through 49 TruckPro stores in 15 states, and automotive diagnostic
and repair software through ALLDATA, diagnostic and repair information through
alldatadiy.com, and auto and light truck parts through autozone.com.