Copart Opens 4th Facility to serve the San Francisco Area

    BENICIA, Calif.--May 7, 2001--Copart, Inc. today announced that it has opened its fourth full service vehicle auction facility in the San Francisco Bay area. The new green-field facility is located in Martinez, in the East Bay area. The Martinez location joins with Copart's other Bay Area facilities including Vallejo, San Jose and Hayward. With the addition of this new 36-acre facility Copart now has 82 locations in 36 states.
    "The Martinez location was needed to accommodate market share growth in the region," said Willis J. Johnson, Copart's Chief Executive Officer. "Each new location fits our growth strategy by broadening our national presence, increasing our capacity and improving service to our suppliers and buyers."
    Since March 2000, Copart has added 12 locations including sites in Boise, ID; Pasco, WA; West Palm Beach, FL; Abilene, TX; San Antonio, TX; Albuquerque, NM; Harrisburg, PA; Chatham, VA; Chicago Heights, IL; Shreveport, LA; Mt. Morris, PA and Martinez, CA.

    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 82 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.