Copart Announces a 3-for-2 Forward Stock Split

    BENICIA, Calif.--Dec. 12, 2001--The Board of Directors of Copart, Inc. has declared a 3-for-2 forward split of the Company's common stock.
    Copart shareholders will receive one new additional share for every two shares of Copart common stock held on the record date. The Company will pay in cash the fair market value of any fractional shares created by reason of the stock split.
    The distribution date for the stock split will be January 21, 2002, to shareholders of record as of the close of the market on January 4, 2002.
    "The Board's action is designed to improve trading liquidity and broaden ownership," said Willis J. Johnson, Copart's Chief Executive Officer.

    Copart, founded in 1982, provides vehicle suppliers, primarily insurance companies, with a full range of services to process and sell salvage vehicles through auctions, principally to licensed vehicle dismantlers, rebuilders, repair licensees and used vehicle dealers. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made. The Company operates 88 facilities in 39 states. It also provides services in other locations through its national network of independent salvage vehicle processors.

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