Batteries Plus Welcomes New Leadership to Continue Growth in Booming Battery Market (8/01)

Batteries Plus^®, America's largest retail and business-to-business battery chain, announced today that Russ Reynolds, formerly Batteries Plus president and COO, officially takes the reins as CEO, replacing founder Ron Rezetko, who retired July 1.

"Russ has proven himself to be a capable leader, both inside and outside the company," said Rezetko, who chose Reynolds to become his successor more than a year before announcing his retirement. "Russ is a tireless worker who has brought a new style of management and organizational skills to Batteries Plus," said Rezetko, who will assume a new role as Chairman Emeritus, continue to serve on the company's operating committee, and be available to Batteries Plus through 2003 as a consultant and advisor. Rezetko founded Batteries Plus in 1988, opening his first store in Green Bay, Wis., amidst skepticism that a batteries-only concept could never survive.

Reynolds joined Batteries Plus in January 2000, announcing strategic initiatives in the areas of sales generation, technology improvements and training. Reynolds launched his technology plan by implementing an Intranet/Extranet system; creating Internet based training curriculums; developing a comprehensive e-business and commerce initiative; and introducing an integrated point-of-sale system. He also expanded training of new and experienced franchisees through face-to-face and distance learning programs.

In addition, under Reynolds' leadership, Batteries Plus is rapidly broadening its product and service offerings so that stores can better serve both the retail and the business-to-business segments. To execute this aggressive plan, Reynolds hired a new Marketing Director, expanded the information technology group and established new departments in areas such as Key Account Development. Batteries Plus currently operates 179 stores in 35 states across the nation.

Reynolds brings a broad spectrum of business development and management experience to Batteries Plus, including more than 20 years in the battery and retailing industries. Reynolds joined Batteries Plus in January 2000 from GNB Technologies, a worldwide manufacturer of lead-acid batteries. At GNB Technologies, Reynolds served as Vice President and General Manager of the Automotive Battery Division, a $500 million, 2,400-employee organization serving the United States, Australia, New Zealand and the Pacific Rim. Prior to a 13-year career at GNB, Reynolds worked for several years in retail management and merchandising for Target stores.

"The battery industry is expanding rapidly through both proliferation and consumption. This opportunity, coupled with our focus on improving each store through revenue growth, technology enhancements, and continually training our associates and franchisees to meet our customers' needs, strengthens Batteries Plus to leverage its significant store base for accelerated growth and success," Reynolds said, further noting that about 35 percent of Batteries Plus' accounts come from business-to-business sales, including institutions, municipalities, manufacturers and farmers.

Batteries Plus offers literally "1000's of Batteries for 1000's of Items.^®" Stores market batteries for everything from automobiles, RVs, boats and motorcycles to cellular and cordless phones, camcorders, computers, toys and more. The Company services the retail and business-to-business segments, and provides value added services including battery assembly, battery testing and analysis and battery reconditioning.