Copart Opens 3rd Facility to Serve Chicago

    BENICIA, Calif.--Jan. 30, 2001--Copart, Inc. today announced that it has opened its third full service vehicle auction facility in the Chicago area. The new green-field facility is located south of Chicago in Chicago Heights, Illinois. The Chicago Heights location joins with Copart's other Chicago-area facilities including Bartlett, which serves northern Chicago, and Hammond, Indiana, which serves the communities to the southeast. With the addition of this new 29-acre facility Copart now has 79 locations in 36 states.
    "Each new location fits our growth strategy by broadening our national presence, increasing our capacity and improving service to our suppliers and buyers," said Willis J. Johnson, Copart's Chief Executive Officer.
    Since March 2000, Copart has added 9 locations including sites in Boise, ID; Pasco, WA; West Palm Beach, FL; Abilene, TX; San Antonio, TX; Albuquerque, NM; Harrisburg, PA; Chatham, VA and Chicago Heights, IL.
    Founded in 1982, Copart provides vehicle suppliers - primarily insurance companies - with a full menu of services to process and sell salvage vehicles through auctions, principally to licensed dismantlers, rebuilders and used vehicle dealers. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes, or recovered stolen vehicles for which an insurance settlement with the vehicle's owner has been made. Operating 79 facilities in 36 states, Copart also provides services to other geographic areas through its national network of independent salvage vehicle suppliers.

    NOTE: Certain statements in this release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors and/or factors affecting future results detailed in the company's Securities and Exchange Commission reports, including variations in the company's operating results, the inability to continue to increase service fees, slowdowns in the timing or reduced size of future acquisitions and facility openings, the loss of vehicle suppliers or buyers, the announcement of new vehicle supply agreements by the company or its competitors, changes in regulations governing the company's operations or its vehicle suppliers, environmental problems or litigation.