Capital Automotive REIT Announces Pricing of Offering of 3,350,000 Common Shares

    MCLEAN, Va., Aug. 3 Capital Automotive REIT
today announced that a public offering of 3,350,000 of its common shares has
been priced at $17 per share and is expected to close on August 8, 2001.  The
Company has also granted the underwriters an over-allotment option to purchase
up to 502,500 additional shares.  All of the shares are being sold by the
Company.
    Managing underwriters for the offering are Credit Suisse First Boston,
CIBC World Markets, Friedman Billings Ramsey, Raymond James, BB&T Capital
Markets, and Ferris, Baker Watts Incorporated.
    Copies of the prospectus supplement may be obtained from the offices of
Credit Suisse First Boston, Eleven Madison Avenue, New York, New York 10010 or
from the offices of any of the co-managing underwriters identified above.

    About Capital Automotive
    Capital Automotive, headquartered in McLean, Virginia, is a self-
administered, self-managed real estate investment trust formed to acquire the
real property and improvements used by operators of multi-site, multi-
franchised automotive dealerships and related businesses.