Springfield, MO, November 15, 2010 – O’Reilly Automotive, Inc. (“O’Reilly” or the “Company”) (NASDAQ: ORLY), a leading retailer in the automotive aftermarket industry, announced today that holders of the 6 ¾% Exchangeable Senior Notes due 2025 (the “Notes”), which were originally issued by CSK Auto, Inc. (“CSK”), have the right to require CSK to repurchase for cash such holders’ Notes pursuant to the terms of the indenture for the Notes (the “Put Option”). The Put Option expires at 5:00 p.m., New York City time, on December 14, 2010. In connection with its acquisition of CSK on July 11, 2008, O’Reilly agreed to guarantee the Notes, on a subordinated basis, and to issue shares of O’Reilly common stock, if any, upon any exchange of the principal amount of the notes. The Notes were originally issued on December 19, 2005, by CSK and $89 million of the aggregate principal amount remains outstanding.
