MonroThird Quater results

ROCHESTER, N.Y. – January 18, 2001 – Monro Muffler Brake, Inc. (Nasdaq: MNRO),
today reported sales and operating results for its third quarter and nine months ended December 31, 2000.

Sales for the fiscal 2001 third quarter were $51.8 million, compared to $52.1 million for the corresponding quarter ended December 31, 1999. The decrease was due to a comparable store sales decrease of 3.2% caused, in part, by one less sales day. Management believes that inclement weather also contributed to the decline. This decrease was partially offset by an increase in sales from new stores of $0.7 million.

Net income for fiscal 2001's third quarter rose 19.1% to $1.4 million, or $0.15 per diluted share, as compared to $1.1 million, or $0.13 per diluted share, in the prior year period.

Sales for the nine months ended December 31, 2000 decreased 0.4% to $172.9 million from $173.6 million in the comparable period last year. Net income for the nine months ended December 31, 2000 increased 17.5% to $8.3 million, as compared to $7.1 million in the first nine months of the prior year.

Monro Muffler Brake Reports Third Quarter Results

Robert G. Gross, President and Chief Executive Officer stated, "While we are pleased to be reaping the benefits of improved productivity, strong cost control, and further leveraging of the Speedy acquisition, all resulting in a 19% earnings growth, we are disappointed in sales. The encouraging news is that the average daily traffic was up again this quarter by 0.8%. This now represents the third
consecutive quarter of increasing traffic counts and, with our numerous other sales initiatives, bodes well for future sales growth.

"We are comfortable with our current fourth quarter and full year projections of $0.15 and $1.09, respectively, and expect full year FY02 earnings to grow 10 to 15%.

"We are also pleased to announce that we have been building on our strategy to market more well-recognized product brands in our stores to enhance sales. During December, we began selling Goodyear tires in addition to the Firestone brand, offering our customers further choice. In March, once most of the cold weather is behind us, we plan to start selling the popular Monroe® brand shocks and struts, the most recognized brand of ride control products in the industry. We expect these products to contribute to a future growth in sales, as they will create significant sales promotional opportunities.

"Oil changes were up 9% over last year's third quarter, a clear indication that there has been virtually no resistance to our $2.00 price increase implemented in October. We believe this is because we remain at least $4.00 less expensive than most competitors. Recently, we instituted a service fee to cover shop supply and environmental costs previously not passed on to the customer. We are one of the last companies to adopt this practice, and it has received nearly universal acceptance by our customers. We expect these service fees to have a 1% positive impact on revenues beginning next quarter.

"Regarding our additional sales and Internet initiatives, feedback from our new website launched in October has been very positive. Our new web-based e-VIP Club's membership is growing daily, which we believe will lead to more visits from our current customers. Next month, we are implementing a major initiative to target potential customers who live within one mile of a Monro store but have not visited."

Mr. Gross concluded, "We believe we are well on our way to achieving future top line growth, and our goal is to continue to outperform the industry in the coming quarters."

Separately, the Company announced that it has purchased 111,300 shares of common stock this quarter as part of its share repurchase program announced last year. This brings the total shares purchased to 211,400 through December 31, 2000.

Monro Muffler Brake operates a chain of stores providing automotive undercar repair services in the United States. The Company currently operates 513 stores and has 19 dealer locations in New York, Pennsylvania, Ohio, Connecticut, Massachusetts, West Virginia, Virginia, Maryland, Vermont, New Hampshire, New Jersey, North Carolina, South Carolina, Indiana, Rhode Island, Delaware and Michigan. Monro's stores provide a full range of services for exhaust systems, brake systems, steering and suspension systems and many vehicle maintenance services.

Certain statements made above may be forward-looking and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve uncertainties which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties include, but are not necessarily limited to, uncertainties affecting retail generally (such as consumer confidence and demand for auto repair); risks relating to leverage and debt service (including sensitivity to fluctuations in interest rates); dependence on, and competition within, the primary markets in which the Company's stores are located; the need for, and costs associated with, store renovations and other capital expenditures; and the risks described from time to time in the Company's SEC reports which include the report on Form 10K for the fiscal year ended March 31, 2000.

Quarter Ended December 31,
	2000	1999	%Change
Sales	$51,792	$52,077	(0.5)%
Cost of sales, including distribution and occupancy costs	31,952	32,145	(0.6)
Gross profit	19,840	19,932	(0.5)
Operating, selling, general and administrative expenses	15,930	15,807	0.8
Operating income	3,910	4,125	(5.2)
Interest expense, net	1,399	1,692	(17.3)
Other expense, net	239	524	(54.4)
Income before provision for income taxes	2,272	1,909	19.0
Provision for income taxes	904	760	19.0
Net income	$1,368	$1,149	19.1
Diluted earnings per share	$0.15	$ 0.13	15.4%
Number of stores open (at end of quarter)	513	512

Nine Months Ended December 31,
	2000	1999	%Change
Sales	$172,883	$173,569	(0.4)%
Cost of sales, including distribution and occupancy costs	102,051	102,892	(0.8)
Gross profit	70,832	70,677	0.2
Operating, selling, general and administrative expenses	52,042	52,616	(1.1)
Operating income	18,790	18,061	4.0
Interest expense, net	4,524	5,098	(11.3)
Other expense, net	501	1,239	(59.6)
Income before provision for income taxes	13,765	11,724	17.4
Provision for income taxes	5,478	4,669	17.3
Net income	$8,287	$7,055	17.5
Diluted earnings per share	$0.93	$0.79	17.7%

	December 31, 2000	March 31, 2000
Assets
Current assets Cash	$507	$507
Inventories	40,307	39,698
Other current assets	7,960	7,420
Total current assets	48,774	47,625
Property, plant and equipment, net	132,927	133,875
Other noncurrent assets	13,032	14,013
Total assets	$194,733	$195,513
Liabilities and Shareholders' Equity
Current liabilities	$38,715	$35,962
Long-term debt	53,566	63,639
Other long term liabilities	6,166	7,137
Total liabilities	98,447	106,738
Total shareholders? equity	96,286	88,775
Total liabilities and shareholders' equity	$194,733	$195,513