Copart Introduces Motors Auction Group -MAG-

    BENICIA, Calif.--April 3, 2001--Copart, Inc. today announced the new trade name for its public auction facilities: Motors Auction Group - MAG. Effective today, Copart's first two public auctions located in Detroit, Mi. and Chesapeake, Va. have been renamed Motors Auction Group. The new trade name also has its own website, at www.4mag.com.
    Copart will elaborate further on its MAG strategy during its next quarterly earnings release and conference call currently scheduled for the week of May 28.
    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.