Copart Opens in Tucson, Arizona

    BENICIA, Calif.--May 1, 2002--Copart, Inc. today announced that it has opened a second auction facility to serve the state of Arizona in Tucson. With the addition of this 15-acre green-field facility Copart now has 90 locations in 40 states.
    "The new Arizona location is in the southern section of Tucson next to Interstate 10," said Willis J. Johnson, Copart's Chief Executive Officer. "We located this property over one year ago and have spent the last 12 months completing development of the facility. The new facility will allow us to better serve our suppliers in the southern Arizona region. Previously this area was served by our Phoenix facility, which is over two hours away."
    Copart, founded in 1982, provides vehicle suppliers, primarily insurance companies, with a full range of services to process and sell salvage vehicles through auctions, principally to licensed vehicle dismantlers, rebuilders, repair licensees and used vehicle dealers. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made. The Company operates 90 facilities in 40 states. It also provides services in other locations through its national network of independent salvage vehicle processors.

    NOTE: Certain statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors and/or factors affecting future results detailed in the Company's Securities and Exchange Commission reports, such as: the dependence on a limited number of suppliers; competitive factors; the inability to continue growing by the acquisition and development of new facilities; the inability to manage growth; limited experience in the public auction business; fluctuations in the availability and/or prices of vehicles; variations in vehicle accident rates; buyer attendance at auctions; delays or changes in state title processing; changes in state or federal laws affecting salvage vehicles; the timing and size of acquisitions; the announcement of new vehicle supply agreements by us or our competitors; the severity of weather and seasonal weather patterns; the amount and timing of operating costs and capital expenditures; government regulation; environmental problems; the loss of key management; and, difficulties in managing our trucking fleet.