Copart Opens in Somerville, New Jersey

    BENICIA, Calif.--May 20, 2002--Copart, Inc. today announced that it has opened a second auction facility to serve the state of New Jersey. With the addition of this 15-acre green-field facility Copart now has 91 locations in 40 states.
    "The Somerville location is in central New Jersey next to US-206 in the community of Hillsborough," said Willis J. Johnson, Copart's Chief Executive Officer. "This new location is just 45 miles from Manhattan and provides additional capacity for the New York metropolitan area, a part of the country where we've experienced important market share gains. With the addition of the Somerville site, we now provide our suppliers with excellent coverage from four New York metropolitan locations: Islip to the east, Marlboro to the north, Glassboro to the south and now Somerville for the western side."
    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 91 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.