Freeman Spogli & Co. Announces Investment in PETCO Animal Supplies alongside Texas Pacific Group and Leonard Green & Partners, L.P.

Los Angeles, CA, October 26, 2006 - Freeman Spogli & Co., a leading private equity investment firm, announced today that it has invested alongside Texas Pacific Group and Leonard Green & Partners, L.P. in PETCO Animal Supplies Inc.’s going private transaction. As a result of the transaction, which PETCO stockholders approved Monday, each issued and outstanding share of PETCO common stock was canceled and converted automatically into the right to receive $29 in cash, without interest. PETCO remains headquartered in San Diego under existing management.

About PETCO Animal Supplies, Inc.

PETCO is a leading specialty retailer of premium pet food, supplies and services. PETCO's vision is to best promote, through its people, the highest level of well being for companion animals, and to support the human-animal bond. It operates more than 800 stores in 49 states and the District of Columbia, as well as a leading destination for online pet food and supplies at www.petco.com. Since its inception in 1999, The PETCO Foundation, PETCO's non-profit organization, has raised more than $31 million in support of more than 3,800 non-profit grassroots animal welfare organizations around the nation.

About Freeman Spogli & Co.

Freeman Spogli & Co. is a private investment firm dedicated exclusively to investing in and partnering with management in retail, direct marketing and distribution companies positioned for growth. Since its founding in 1983, Freeman Spogli has invested approximately $2.4 billion in 41 portfolio companies with aggregate transaction value of $16 billion, and is currently making investments from FS Equity Partners V, L.P., a $1.0 billion fund. Freeman Spogli has offices in Los Angeles and New York.

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