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AutoNation Announces Pricing of $750 Million Aggregate Principal Amount of Senior Notes

Sep. 16, 2015

FORT LAUDERDALE, Fla., Sept. 16, 2015 /PRNewswire/ -- AutoNation, Inc. (NYSE: AN), America's largest automotive retailer (the "Company"), announced today the pricing of $300 million aggregate principal amount of senior unsecured notes due 2021 at 3.35% (the "2021 Notes") and $450 million aggregate principal amount of senior unsecured notes due 2025 at 4.5% (the "2025 Notes" and together with the 2021 Notes, the "notes"). The 2021 Notes will be issued at 99.998% of the aggregate principal amount, representing a yield to maturity of 3.351%, and the 2025 Notes will be issued at 99.663% of the aggregate principal amount, representing a yield to maturity of 4.542%. The offering is expected to close on September 21, 2015, subject to customary closing conditions.

The Company intends to use the net proceeds from the offering of the notes to reduce borrowings under the Company's existing revolving credit facility and for general corporate purposes.

J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers of the debt offering.

The offering is being made solely by means of a prospectus supplement and accompanying prospectus, which has been filed with the Securities and Exchange Commission (the "SEC"). Copies of these documents may be obtained on the SEC's website, www.sec.gov. Alternatively, you may request these documents by contacting  J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor (Tel: collect at 212-834-4533), Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, New York, NY 10038, Attention: Prospectus Department (email: dg.prospectus_requests@baml.com),Wells Fargo Securities, LLC, 608 2nd Avenue, South Minneapolis, Minnesota 55402, Attention: WFS Customer Service (Tel:  800-645-3751, email: wfscustomerservice@wellsfargo.com) or SunTrust Robinson Humphrey, Inc., 303 Peachtree Street, Atlanta, GA 30308, Attention: Prospectus Department (Tel: 800-685-4786).

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, and shall not constitute an offer, solicitation or sale in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful.

About AutoNation, Inc.
AutoNation, Inc., headquartered in Fort Lauderdale, Fla., is America's largest automotive retailer. A component of the Standard and Poor's 500 Index, AutoNation owned and operated 293 new vehicle franchises in 15 states as of June 30, 2015.

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "anticipates," "expects," "intends," "goals," "plans," "believes," "continues," "may," "will," and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements that describe our objectives, goals, or plans, are forward-looking statements. Our forward-looking statements reflect our current expectations concerning future results and events, and they involve known and unknown risks, uncertainties and other factors that are difficult to predict and may cause our actual results, performance or achievements to be materially different from any future results, performance and achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: economic conditions generally; conditions in the credit markets and changes in interest rates; our ability to consummate the offering; and other factors described in our news releases and filings made under the securities laws, including, among others, our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K.  Forward-looking statements contained in this news release speak only as of the date of this news release, and we undertake no obligation to update these forward-looking statements to reflect subsequent events or circumstances.

AutoNation logo.

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SOURCE AutoNation, Inc.

Marc Cannon, (954) 769-3146, cannonm@autonation.com; Investor contacts: Andrew Wamser, (954) 769-7023, wamsera@autonation.com, or Robert Quartaro, (954) 769-7342, quartaror@autonation.com

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