Midas Announces Decision to Review Strategic Alternatives

Midas, Inc. MDS today announced that its board of directors will explore and evaluate a range of strategic and financial alternatives to enhance value for stockholders. The company has retained J.P. Morgan Securities LLC to assist in this process. Strategic and financial alternatives may include, but are not limited to, a possible sale, merger or other business combination. As part of its strategic review, the company will conduct an appraisal of its real estate portfolio of 208 properties which are occupied by company-operated Midas shops or leased to Midas franchisees. The properties were last appraised in late 2002. There can be no assurances that this review will result in any action. Midas does not expect to make any further comments unless its board of directors has approved a specific course of action.