FORT LAUDERDALE, Fla., April 4 /PRNewswire-FirstCall/ -- AutoNation, Inc.
(NYSE: AN) today announced that it is evaluating alternatives for engaging an
independent auditor for the fiscal year ending December 31, 2003.
AutoNation's Audit Committee, which is responsible for appointing the
Company's independent auditor, made the decision due to the recent
announcement by Deloitte & Touche that it had ended efforts to separate
Deloitte Consulting, which provides services to AutoNation. Also, under the
Sarbanes-Oxley Act of 2002, audit firms will be precluded from providing
certain non-audit services to their clients.
When AutoNation appointed Deloitte & Touche as its independent auditor in
May 2002, Deloitte & Touche had planned to separate its consulting business by
year-end 2002. AutoNation intends to continue its relationship with Deloitte
& Touche's consulting business. Deloitte & Touche will continue as
AutoNation's independent auditor while AutoNation completes its evaluation.
There have been no disagreements between AutoNation and Deloitte & Touche.
ABOUT AUTONATION, INC.
AutoNation, Inc., headquartered in Fort Lauderdale, Fla., is America's
largest retailer of both new and used vehicles. Ranked No. 93 on the 2002
Fortune 500 and a component of the Standard and Poor's 500 Index, AutoNation
employs approximately 28,500 people and owns and operates 374 new vehicle
franchises in 17 states. For additional information, please visit
http://corp.AutoNation.com or www.AutoNation.com, where more than 100,000
vehicles are available for sale.
SOURCE AutoNation, Inc.
04/04/2003
CONTACT: Marc Cannon of AutoNation, Inc., +1-954-769-3146, or
cannonm@autonation.com/
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(AN)