Copart, Inc. Announces Pricing of Public Offering

    BENICIA, Calif.--Nov. 14, 2001--Copart, Inc. today announced the pricing of its public offering of 4,000,000 shares of common stock at $29.00 per share. All 4,000,000 shares are being offered by Copart. The closing of the offering is expected to occur on or before November 19, 2001, and is subject to customary closing conditions. The Company has also granted the underwriters an option to purchase an additional 600,000 shares to cover over-allotments, if any. Salomon Smith Barney served as book-running manager for the offering, with Credit Suisse First Boston and A.G. Edwards & Sons, Inc. participating as co-managers.
    This announcement shall 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 in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. The offering of these securities is made only by means of a prospectus, copies of which may be obtained from Salomon Smith Barney, Brooklyn Army Terminal, 140 58th Street, 5th Floor, Brooklyn, NY 11220 (telephone: 718-765-6732).

    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.