AutoNation to Acquire Hudiburg Chevrolet

FORT LAUDERDALE, Fla., Dec. 10 -- AutoNation, Inc. , America's largest retailer of new and used automobiles, today announced that it has signed an agreement to acquire Hudiburg Chevrolet in Fort Worth, Texas, from Bob Hudiburg. Once closed, the Hudiburg Chevrolet acquisition will bring to 21 the total number of new vehicle franchises in the Dallas-Forth Worth market owned and operated by AutoNation.

Terms of the all-cash asset acquisition, which is subject to customary conditions and approvals, were not disclosed. AutoNation estimates Hudiburg Chevrolet's 2001 revenue will total approximately $88 million. A closing of the acquisition is anticipated for early 2002. Mr. Hudiburg will not retain a position with the dealership following the closing.

``Hudiburg Chevrolet will be a fantastic addition for our AutoNation-owned dealerships in the Dallas-Fort Worth market,'' said Michael E. Maroone, AutoNation's President and Chief Operating Officer. ``The dealership has quality management, loyal customers and an excellent future.''

Currently, AutoNation's franchises in the Dallas-Fort Worth market offer new vehicles from Buick, Chevrolet, Chrysler, Dodge, Ford, Jeep, Lincoln, Mercury, Nissan and Mazda as well as used vehicles, parts and services, and finance and insurance products. In addition, the Company owns and operates three Chevrolet franchises and one Nissan franchise in Amarillo.

About AutoNation, Inc.

AutoNation, Inc., headquartered in Fort Lauderdale, Fla., is America's largest retailer of new and used automobiles. Ranked #83 on the Fortune 500, AutoNation employs approximately 31,000 people at 368 new vehicle franchises in 17 states. Additional information is available at www.autonation.com, where consumers can find approximately 100,000 vehicles available for sale.