Exhibit 99.1
CSK AUTO ANNOUNCES ENTRY INTO TERM CREDIT AGREEMENT AND RESULTS TO DATE OF CASH TENDER OFFER
FOR 7% SENIOR SUBORDINATED NOTES
PHOENIX, AZ, July 3, 2006CSK Auto Corporation (NYSE: CAO) (the Company) announced today that
its wholly owned subsidiary CSK Auto, Inc. (Auto) had entered into a Term Credit Agreement among
Auto, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent, and Lehman
Commercial Paper Inc. and Wachovia Bank, National Association, as Co-Syndication Agents (the
Credit Agreement), with respect to a senior secured credit facility of $450,000,000 on terms
previously disclosed. The loans under the Credit Agreement (the Term Loans) can be made on up to
five occasions until December 16, 2006. The proceeds of the Term Loans may be used solely (i) to
refinance or repurchase some or all of Autos 7% Senior Subordinated Notes due 2014 (the 7%
Notes), 3 3/8% Senior Exchangeable Notes due 2025 (the 3
3/8% Notes), and 4 5/8% Senior Exchangeable
Notes due 2025 (the 4 5/8% Notes, and together with the
7% Notes and the 3 3/8% Notes, the Existing
Notes), and (ii) provided that some or all of the Existing Notes have been refinanced or
repurchased with the proceeds of Term Loans, to pay consent fees to holders of Existing Notes not
so refinanced or repurchased and related transaction fees and expenses.
The Company also announced today that as of 5:00 p.m., New York City time, on Friday, June 30,
2006, which was the early settlement deadline (the Early Settlement Deadline) for the cash tender
offer and consent solicitation of Auto with respect to Autos outstanding $225 million aggregate
principal amount of 7% Notes, a total of approximately $221 million in aggregate principal amount
of 7% Notes (representing approximately 98 percent of the outstanding principal amount) had been
tendered. Payment of the tender consideration for the 7% Notes validly tendered and not withdrawn
at or prior to the Early Settlement Deadline is expected to be made promptly.
The requisite consents to adopt the proposed amendments to the indenture governing the 7% Notes
have been received and a supplemental indenture containing such amendments has been executed by
Auto, the guarantors party thereto and the trustee under the indenture.
The tender offer is scheduled to expire at 5:00 p.m., New York City time, on July 18, 2006, unless
extended or earlier terminated (the Expiration Time). Payments of the tender consideration for
7% Notes validly tendered and not withdrawn after the Early Settlement Deadline and at or prior to
the Expiration Time will be made promptly after the Expiration Time.
The Altman Group, Inc. is Information Agent and Depositary for the tender offer. Questions and
requests for documents related to the tender offer may be directed to The Altman Group, Inc. at
(201) 806-7300.
This announcement shall not constitute an offer to purchase or a solicitation of an offer to sell
any securities. The tender offer is being made only through the Offer to Purchase and related
materials. Holders of Notes should read carefully the Offer to Purchase and related materials
because they contain important information.
CSK Auto Corporation is the parent company of CSK Auto, Inc., a specialty retailer in the
automotive aftermarket. As of April 30, 2006, the Company operated 1,288 stores in 22 states under
the brand names Checker Auto Parts, Schucks Auto Supply, Kragen Auto Parts and Murrays Discount
Auto Stores.
CONTACT: CSK Auto Corporation
Brenda Bonn, 602-631-7483 (Investor Contact)
or
Ashton Partners
Mike Banas, 312-553-6704 (Media Contact)
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