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AutoNation, Inc. Extends Expiration Date of Exchange Offer for Its 9% Senior Notes Due 2008

Dec. 28, 2001
FORT LAUDERDALE, Fla., Dec 28, 2001 /PRNewswire via COMTEX/ -- AutoNation, Inc. (NYSE: AN), America's largest retailer of new and used vehicles, today announced that it has extended the expiration date of its offer to exchange $450,000,000 aggregate principal amount of its 9% Senior Notes due 2008, which have been registered under the Securities Act of 1933, as amended, for like amounts of its unregistered 9% Senior Notes due 2008, which were issued on August 10, 2001. As a result of the extension, the exchange offer is now scheduled to expire at 5:00 p.m., New York City time, on January 4, 2002, unless further extended.

The exchange offer was originally set to expire at 12:00 midnight, New York City time, on December 27, 2001. As of 12:00 midnight, New York City time on December 27, 2001, approximately $449 million of the outstanding notes had been tendered for exchange.

Except for the extension of the expiration date, all of the other terms of the exchange offer remain as set forth in the prospectus that forms a part of a Registration Statement on Form S-4 relating to the exchange offer filed by AutoNation, Inc. with the Securities and Exchange Commission (SEC). Copies of the prospectus and related documents may be obtained from Wells Fargo Bank Minnesota, National Association, as exchange agent for the exchange offer, at the following address:

                           Corporate Trust Services
               Wells Fargo Bank Minnesota, National Association
                        213 Court Street -- Suite 902
                            Middletown, CT  06457
               Attention:  Robert L. Reynolds - Vice President
                          (860) 704-6216 (telephone)
                          (860) 704-6219 (facsimile)
The Registration Statement on Form S-4 relating to the exchange offer and the other documents filed with the SEC by AutoNation, Inc. with respect to the exchange offer contain important information, all of which noteholders are urged to read. These and other documents relating to the exchange offer may be obtained for free at the SEC's Web site, www.sec.gov , or from AutoNation, Inc. by directing such request in writing or by telephone to: Investor Relations Department, AutoNation, Inc., AutoNation Tower, 110 S.E. 6th Street, Fort Lauderdale, Florida 33301, phone number: (954) 769-7000. This communication is neither an offer to exchange nor a solicitation of an offer to exchange any securities. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

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SOURCE AutoNation, Inc.

CONTACT:          Marc Cannon of AutoNation, Inc., +1-954-769-3146, or
                  cannonm@autonation.com
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URL:              http://www.autonation.com 
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