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Hometown Auto Retailers Dealerships Receive 1999 Toyota President's Award

7 April 2000

Hometown Auto Retailers Dealerships Receive 1999 Toyota President's Award

    WATERTOWN, Conn.--April 6, 2000--Hometown Auto Retailers, Inc. , a leading consolidator and operator of automotive dealerships in the Northeast, today announced that two of its New England-based dealerships have received the coveted 1999 Toyota President's Award.
    Toyota Motor Corporation annually honors the President's Award to its highest quality dealers for excellence in all operations, including high sales volume and outstanding service quality. Hometown Auto's dealerships, Muller Toyota and Toyota of Newburgh, were selected from a total of 29 New York dealerships to receive the award.
    William Muller, regional vice president, director and co-founder of Hometown Auto Retailers, oversees operations at Muller Toyota as well as other Hometown Auto dealerships in the New York and New Jersey regions. George Gaillard founded Toyota of Newburgh and continues to operate the dealership since it was acquired by Hometown Auto Retailers.
    "We are extremely pleased to have two of our dealerships receive the Toyota President's Award. This award is a testament to the talent and core competency of our management staff," commented Corey Shaker, president and chief operating officer of Hometown Auto Retailers.
    Shaker continued, "Our focus for 2000 remains tied to our recent initiative to regionalize New England dealership operations, which will reduce operational costs, improve inventory turns and drive increases in all sales channels."
    Hometown Auto Retailers, Inc. sells new and used cars and light trucks, providing maintenance and repair services, selling replacement parts and providing related financing, insurance and service contracts through 11 franchised dealerships located in New Jersey, New York, Connecticut, Massachusetts and Vermont.
    The Company's dealerships offer 13 American and Asian automotive brands, including Chevrolet, Chrysler, Daewoo, Ford, Isuzu, Jeep, Lincoln, Mercury, Mazda, Oldsmobile, Plymouth and Toyota. The Company is active in two niche segments of the automotive market: the sale of Lincoln Town Cars and limousines to livery car and livery fleet operators and the maintenance and repair of cars and trucks at a factory authorized free-standing service center.
    For an in-depth research report on Hometown Auto Retailers, visit www.nfnonline.com/hcar/4page.html.

    This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties. Actual results or achievements may be materially different from those expressed or implied. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, its ability to consummate, and the timing of, acquisitions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Therefore, there can be no assurance than any forward-looking statement will prove to be accurate.