Springfield, Missouri, February 1, 2008 – O’Reilly Automotive, Inc. (NASDAQ:ORLY) announced today that it is proposing to acquire all of the outstanding shares of CSK Auto Corporation (NYSE:CAO) common stock for $8.00 per share in cash. This proposal represents a 34% premium over CSK’s closing stock price on Thursday, January 31, 2008. The proposal also represents a 63% premium over the average trading stock price for CSK over the last thirty days. The total transaction is valued at approximately $845 million, including the assumption of approximately $490 million of CSK debt. The acquisition is expected to be accretive to O’Reilly’s earnings in the first full year after completion of the acquisition excluding one time transaction costs.
