Copart Files Registration Statement for Follow-on Equity Offering

    BENICIA, Calif.--Oct. 19, 2001--Copart, Inc. today announced that it has filed a registration statement with the Securities and Exchange Commission (SEC) for a follow-on equity offering of 4,000,000 shares of common stock. The offering will also include an option for the underwriters to purchase an additional 600,000 shares to cover over allotments, if any.
    Salomon Smith Barney is acting as the book-running manager for this offering. Credit Suisse First Boston and A.G. Edwards & Sons, Inc. are acting as co-managers. When available, a copy of the prospectus may be obtained from: Salomon Smith Barney, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (718-765-6732).
    A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may any offers to buy be accepted until after the registration statement becomes effective under the Securities Act of 1933. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale, would be unlawful prior to registration or qualification under the securities laws of any such state.

    ABOUT COPART

    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 88 facilities in 39 states, Copart also provides services to other geographic areas through its national network of independent salvage vehicle suppliers.