Midas will soon become a TBC subsidiary

April 25, 2012

TBC Corp. announced it has accepted for payment all of the shares of Midas Inc. common stock. The payment was tendered pursuant to TBC’s tender offer for all of the outstanding shares of common stock of Midas Inc. at a purchase price of $11.50 per share.

As of the expiration of the offer, 9,923,605 shares of common stock of Midas were validly tendered and were not withdrawn (including 326,192 shares tendered pursuant to guaranteed delivery procedures).

Such shares represent 68.8% of the 14,433,908 shares of Midas stock outstanding as of April 24, 2012. All the shares have been accepted for payment in accordance with the terms of the tender offer. The tender offer expired at 12:00 midnight (New York City time) at the end of April 24, 2012.

TBC says it intends to exercise the “top-up” provided in the merger agreement to purchase additional shares from Midas, which will allow TBC to complete and close the merger and acquisition of Midas without stockholder approval.

TBC currently expects to pay for the shares accepted for payment pursuant to the tender offer on April 30, 2012 and to complete the merger immediately thereafter, at which time Midas will become a wholly owned subsidiary of TBC.

TBC entered into a definitive merger agreement to acquire Midas on March 13.