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AutoNation to Acquire John Roberts BMW and MINI Franchise in Dallas-Fort Worth, Texas

Apr. 01, 2004

FORT LAUDERDALE, Fla., April 1 /PRNewswire-FirstCall/ -- AutoNation, Inc. (NYSE: AN), America's largest automotive retailer, today announced that it has signed an agreement to acquire John Roberts BMW and MINI, the largest BMW and MINI dealership in the Dallas-Fort Worth market. Once closed, the acquisition of John Roberts BMW and MINI will bring the total number of new vehicle franchises owned and operated by AutoNation in Texas to 66, with 22 franchises in the Dallas-Fort Worth Metroplex.

The acquisition, which is subject to customary conditions and approvals, is structured as an all-cash asset purchase. Closing is anticipated for the second quarter of 2004.

The dealership is located on approximately 10 acres and has 52 service bays to service customers in the Dallas-Fort Worth area. John Roberts BMW and MINI is the second-largest BMW and MINI dealership in Texas and ranked in the top 20 BMW and MINI dealerships in the United States for new unit sales in 2003.

"The John Roberts BMW and MINI acquisition furthers our strategy of expanding our luxury car and truck business," said Michael E. Maroone, AutoNation's president and chief operating officer. "John Roberts BMW and MINI will be a great addition to our family of AutoNation-owned stores in Texas, and it reinforces our commitment to providing our customers the widest possible selection of quality cars and trucks."

AutoNation offers customers in Texas a wide selection of new vehicles from Acura, BMW and MINI, Buick, Cadillac, Chevrolet, Chrysler-Jeep, Dodge, Ford, Honda, Lincoln-Mercury, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Pontiac, GMC, and Toyota, as well as used vehicles, parts and service, and finance and insurance products.

About AutoNation, Inc.

AutoNation, Inc., headquartered in Fort Lauderdale, Fla., is America's largest automotive retailer. Ranked #97 on the Fortune 500, AutoNation employs approximately 28,000 people at 367 new vehicle franchises in 18 states. Additional information is available at www.autonation.com, where consumers can find approximately 100,000 vehicles available for sale.

Forward-Looking Statements

Certain statements and information included in this release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company undertakes no duty to update its forward- looking statements, including its earnings outlook.

CONTACT: Marc Cannon, AutoNation, +1-954-769-3146, or cannonm@autonation.com

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