Cottman Transmission and AAMCO Transmissions Combine

Deal Creates Nationwide First Stop for

Transmission and Complete Car Care Services

Horsham, PA - March 8, 2006 - Cottman Transmission today announced its combination with AAMCO Transmissions, forming one of the country’s largest complete car care companies, with more than 1,100 locations throughout the United States.

The combined company will eventually operate as AAMCO Transmissions with continued emphasis on providing the country’s best transmission repair service while expanding offerings to include more comprehensive car services such as electrical, brakes and complete driveline repairs and maintenance. Cottman Transmission centers are expected to transition to the AAMCO name.

“The new AAMCO offers millions of motorists an even stronger alternative to high-priced dealer services,” said Todd Leff, who will serve as president and chief executive officer of the new AAMCO. Leff has served as president of Cottman since 1998.

“Technicians already refer their most complex repairs to our centers today,” Leff said. “Today’s creation of the new AAMCO means there is now one stop for drivers to satisfy both their complex repair and routine maintenance needs.”

AAMCO will be headquartered in Horsham, Montgomery County , Pa. and have more than 6,000 team members nationwide. The company will have system wide sales of more than $600 million. AAMCO’s management team will include executives from both organizations. AAMCO President Mark Wurth will serve as a senior advisor to the company during a transition period. AAMCO’s Brian O’Donnell, a 20-year veteran with the company, will continue his role as senior vice president of 0perations.

“This powerful combination of the best in transmission repair and car care will make our services even more convenient to our customers,” said O’Donnell.

Cottman centers are expected to convert to doing business under the AAMCO name over the next three years, Leff said. The conversion to AAMCO will enable the company to leverage a well known national name as it accelerates a push into the broader based $200 billion U.S. automotive repair aftermarket. Leff said AAMCO will work to become the dominant brand in the automotive repair segment.

“This is an historic day for our franchisees, our team members and, most importantly, car owners everywhere,” Leff said.

AAMCO expects to add 50 to 70 new centers a year throughout the country in strategic markets. Currently, the company’s top five markets are New York , Philadelphia , Los Angeles , Washington , D.C. and Atlanta .

The merger reunites two companies that started as one in the late 1950s when Rich Silva and Anthony A. Martino operated transmission centers in Philadelphia . In 1962, the men divided their stores with Silva’s center becoming the first Cottman because of its location on Cottman Avenue and Martino naming his store AAMCO to reflect his initials. Martino partnered with franchising expert Robert Morgan to build AAMCO into a national franchise, with Martino selling his interest in the company and leaving in 1967. The late Robert Morgan, and then his son Keith, who became CEO in 1992 and is retiring from the company with the merger, built AAMCO into one of the best-known brands in the automotive aftermarket.

About AAMCO Transmissions

AAMCO Transmissions is the world’s largest chain of transmission specialists and one of the leaders in complete car care services. AAMCO has more than 1,100 automotive centers throughout the United States , Canada and Puerto Rico . Established in 1962, AAMCO’s more than 6,000 team members are proud to have served over 35 million drivers. For more information, visit www.aamco.com.