Group 1 Not to Pursue Offering

    HOUSTON, Aug. 21 Group 1 Automotive, Inc. , a
Fortune 500 company and a leading operator in the automotive retailing
industry, today announced that due to the decline in its share price, it has
determined not to pursue at this time a previously announced public offering
of common stock.
    Group 1 has annual revenues of $3.8 billion, and owns 60 automotive
dealerships comprised of 102 franchises, 30 different brands, and 22 collision
service centers located in Texas, Oklahoma, Florida, New Mexico, Colorado,
Georgia, Louisiana and Massachusetts.  Through its dealerships and Internet
sites, the company sells new and used cars and light trucks, arranges related
financing, vehicle service and insurance contracts, provides maintenance and
repair services and sells replacement parts.
    Group 1 Automotive, Inc. can be reached on the Internet at
http://www.group1auto.com

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