View all news

AutoNation Issues Statement Regarding Company's Selection As The Next Addition to the S&P 500 Index

Feb. 19, 2003
FORT LAUDERDALE, Fla., Feb 19, 2003 /PRNewswire-FirstCall via COMTEX/ -- AutoNation, Inc. (NYSE: AN), America's largest retailer of both new and used vehicles, issued the following statement this evening following today's announcement by Standard & Poor's that AutoNation would be replacing Rational Software Corp. (Nasdaq: RATL) as a component in the closely followed stock market index.

Responding to the announcement, AutoNation Chairman and Chief Executive Officer Mike Jackson said, "This is great recognition for our Associates, for our Board and for anyone else who has ever pulled for AutoNation's success. With this decision, Standard & Poor's is confirming the important role that automotive retailers play in the U.S. economy."

Jackson also added: "This development, combined with Fortune magazine just naming us America's most admired automotive specialty retailer, really speaks to the positive momentum behind our company."

Standard & Poor's said AutoNation would be added to the index after the close of trading on a date to be announced. S&P 500 component International Business Machines Corp. (NYSE: IBM) is acquiring Rational Software. The transaction is still subject to European Union approval.

About AutoNation, Inc.

AutoNation, Inc., headquartered in Fort Lauderdale, Fla., is America's largest retailer of both new and used vehicles. Ranked #101 on the 2002 Fortune 500 survey of America's largest corporations, AutoNation employs approximately 28,500 people and owns and operates 376 automotive retail franchises in 17 states. For additional information, please visit www.AutoNation.com, where consumers can find more than 93,000 vehicles available for sale, or visit http://corp.AutoNation.com.

SOURCE AutoNation, Inc.

CONTACT: Oscar Suris of AutoNation, +1-954-769-3576, suriso@autonation.com /Company News On-Call: http://www.prnewswire.com/comp/750525.html /Photo: http://www.newscom.com/cgi-bin/prnh/20001017/AUTONATIONLOGO

URL: http://corp.autonation.com
http://www.prnewswire.com

Copyright (C) 2003 PR Newswire. All rights reserved.

Categories: Press Releases
View all news