Capital Automotive Declares Quarterly Preferred Share Dividends

MCLEAN, Va., Oct. 13, 2005 -- Capital Automotive REIT , the nation's leading specialty finance company for automotive retail real estate, today announced that its Board of Trustees has declared a dividend for the period commencing August 1, 2005 and ending October 31, 2005 of $0.46875 per Series A Cumulative Redeemable Preferred Share of beneficial interest of the Company, payable on November 15, 2005 to shareholders of record as of November 1, 2005.

The Board of Trustees has also declared a dividend for the period commencing August 1, 2005 and ending October 31, 2005 of $0.50 per Series B Cumulative Redeemable Preferred Share of beneficial interest of the Company, payable on November 15, 2005 to shareholders of record as of November 1, 2005.

About Capital Automotive

Capital Automotive, headquartered in McLean, Virginia, is a self- administered, self-managed real estate investment trust. The Company's primary strategy is to acquire real property and improvements used by operators of multi-site, multi-franchised automotive dealerships and related businesses. Additional information on Capital Automotive is available on the Company's Website at http://www.capitalautomotive.com/.

Forward Looking Statements

Certain matters discussed within this press release are forward-looking statements within the meaning of the federal securities laws. Although the Company believes that the expectations reflected in the forward-looking statements are based upon reasonable assumptions, the forward-looking statements contained in this press release are subject to risks and uncertainties, including, but not limited to, risks that the Company's tenants will not pay rent; risks related to the mortgage loans in the Company's portfolio, risks related to the Company's reliance on a small number of dealer groups for a significant portion of its revenue; financing risks; risks relating to competition, the automotive industry, and ownership of real estate; and those risks detailed from time to time in the Company's SEC reports, including its Form 8-K/A filed on March 11, 2005, its annual report on Form 10-K and its quarterly reports on Form 10-Q. The Company makes no promise to update any of the forward-looking statements.

    Contact Information
    David S. Kay
    Senior Vice President, Chief Financial Officer and Treasurer
    Capital Automotive REIT
    703.394.1302