TBC's shareholders meeting will be held April 30

April 1, 2003

TBC Corp. will hold its annual stockholders meeting on Wednesday, April 30, in Memphis, Tenn. At that time, shareholders will consider and vote upon three new directors.

The board of directors is divided into three classes, with one class of directors being elected at each annual stockholders meeting for a term of three years.

Robert Dunlap, a director whose term of office expires at this annual meeting, is not standing for re-election. With his retirement, Dunlap, chairman of Dunlap & Kyle Co. Inc., ends 33 years of service as a director of the company.

The board's nominees for new directors are Marvin Bruce, George Bryan and Larry Day, each of whom is presently a director and is nominated to succeed himself.

* Bruce, 74, has been a director of TBC since 1972 and has served as chairman of the board of directors since 1991. He retired as CEO in 1994.

* Bryan, 58, has been a director since April 2002. He retired as CEO and president of Sara Lee Foods in 2000.

* Day, 53, has been a director since 1998, when he was named president of the company. He added the CEO title in 1999. From 1995 to 1998, Day was CEO and president of Monro Muffler Brake Inc.

The authorized number of directors of the company is currently fixed at nine. TBC's continuing directors, and the year their terms will expire, are:

* Richard McStay (2005), former president of Southern Capital Advisors Inc., a division of Morgan Asset Management.

* Donald Ratajczak (2005), chairman and CEO of BrainWorks Ventures Inc.

* Robert Schoeberl (2005), retired executive vice president for home and auto with Montgomery Ward & Co.

* Charles Ledsinger Jr. (2004), CEO and president, Choice Hotels International Inc.

* William McCarthy (2004), formerly director of mall store marketing for Sears, Roebuck & Co.

* Raymond Schultz (2004), retired chairman and CEO of Promus Hotel Corp.

The TBC board of directors has fixed the close of business on March 10, 2003, as the record date for determination of stockholders entitled to notice of and to vote at the annual meeting.