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Craig T. Monaghan Named AutoNation Chief Financial Officer

Apr. 26, 2000

FORT LAUDERDALE, Fla., April 26 /PRNewswire/ -- Michael J. Jackson, Chief Executive Officer of AutoNation, Inc. (NYSE: AN), America's largest automotive retailer on and off the web, today announced that Craig T. Monaghan has been named Chief Financial Officer of AutoNation, Inc. Mr. Monaghan assumes his new position on May 9.

Mr. Monaghan, 43, will be responsible for all financial aspects of AutoNation's business strategy and will have the Company's Finance, Information Technology, Purchasing and Corporate Real Estate functions reporting to him. AutoNation Financial Services, the Company's captive finance company, also will report to Mr. Monaghan. Mr. Monaghan will report directly to Mr. Jackson.

Most recently, Mr. Monaghan served as Chief Financial Officer of iVillage.com, the leading Women's Network on the Internet. Having served in this capacity since June 1998, Mr. Monaghan was responsible for building iVillage.com's financial organization and preparing the company for its successful initial public offering.

Prior to that, Mr. Monaghan served as Vice President and Treasurer for Reader's Digest Association Inc., a $3 billion global publisher and marketer. His responsibilities included cash management, debt financing, international finance, capital structure and dividend policy, pension plan management and investor relations. From 1991 to 1998, Mr. Monaghan was also Vice President of Business Development for Reader's Digest, Controller for Reader's Digest Europe and Assistant Treasurer.

In addition, Mr. Monaghan has worked in a number of strategic financial positions for Bristol-Myers Squibb Company and General Motors Corporation.

"Throughout Craig's career, he has always risen rapidly through the ranks because of his intellectual capacity, leadership skills and desire to excel," explained Mr. Jackson. "His recent exposure to the world of e-Commerce also makes him well-suited for the clicks-and-bricks story emerging at AutoNation. I am very pleased that Craig is joining the AutoNation team."

In 1980, Mr. Monaghan received a Bachelor of Science degree in Industrial Engineering from Lehigh University in Bethlehem, PA, before serving in the United States Army until 1984 as Captain and aide-de-camp to the Commanding General at Ft. Monmouth, New Jersey. In 1985, he received a Master of Business Administration degree from The Wharton School at the University of Pennsylvania in Philadelphia.

AutoNation, Inc. is America's largest automotive retailer, with more than 400 new vehicle franchises and $20 billion in annual revenue. Led by AutoNationDirect.com, the Company sold more than $1 billion worth of automobiles via the Internet in 1999.

SOURCE AutoNation, Inc.
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