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Oklahoma City Auto Dealers Launch Fred Jones Auto Collection

25 March 1999

Oklahoma City Auto Dealers Launch Fred Jones Auto Collection

    DEARBORN, March 24 -- Oklahoma City auto dealers and Ford
Investment Enterprises Corporation (FIECo) today launched the Fred Jones Auto
Collection -- a new concept in automotive retailing designed to provide
customers in that region a maximum level of satisfaction in their automotive
sales and service experience.
    The Oklahoma City venture is a new partnership involving 12 locally owned
Ford, Lincoln, Mercury and Mazda dealerships that will now work together as
one business unit.  FIECo -- a subsidiary of Ford Motor Company --
will be a minority shareholder.
    "The automotive business is undergoing a dramatic change and we will be
part of its future," said Fred Hall, chairman for the venture.  "Being
involved in the Fred Jones Auto Collection allows us to be in the forefront as
a leader and not a follower."
    The Fred Jones Auto Collection is the fourth such venture now operational
in the United States.  Others are now operational in Tulsa, San Diego and Salt
Lake City.  Under the concept, the new company combines the resources,
inventories and employee talents of all the dealerships involved which
ultimately benefits car and truck customers.
    "Our new approach to selling cars and trucks will include unique sales and
service outlets supplemented by neighborhood service centers providing
competitively-priced service to customers," Hall said.
    The sales centers will feature a large selection of both new and used
vehicles, no-hassle selling, non-commissioned salespeople, and a future state-
of-the-art website that will permit customers to search the inventory from
their home computers.
    The 12 dealerships involved include -- seven Ford, two Lincoln Mercury and
three Mazda franchises.
    Local dealerships in the Fred Jones Auto Collection are Dub Richardson
Ford, Expressway Ford, Fleming Ford, Jackie Cooper Ford, Jackie Cooper Lincoln
Mercury and Cable Mazda.  Additionally, six Fred Jones Companies franchises
are involved in the venture including Fred Jones Ford of OKC, Southwest Ford
Sales, Fred Jones Ford of Edmond, Fred Jones Lincoln Mercury, Fred Jones Mazda
and Fred Jones Downtown Mazda.
    The Fred Jones Auto Collection will employ about 1,000 people and generate
sales volume in excess of $500 million during its first year of operation,
making it one of the largest Oklahoma-based businesses.