Copart Opens 1st Facility to Serve Kentucky

    BENICIA, Calif.--June 11, 2001--Copart, Inc. today announced that it has opened its first full service vehicle auction facility in the state of Kentucky. The new green-field facility is located in Lawrenceburg, in the north-central part of the state, and serves the entire state of Kentucky. With the addition of this new 15-acre facility Copart now has 83 locations in 37 states.
    "We acquired the Lawrenceburg location to meet the needs of our suppliers in the area," said Willis J. Johnson, Copart's Chief Executive Officer. "The state of Kentucky has a population of over 4 million and no national salvage auction providers. We look forward to serving our suppliers and buyers in the region."
    Since March 2000, Copart has added 13 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; Martinez, CA and Lawrenceburg, KY.
    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 83 facilities in 37 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.