Copart Opens in Reno, Nevada

    BENICIA, Calif.--Sept. 13, 2002--Copart, Inc. today announced that it has acquired the assets of EWE Salvage Pool and Auto Auction, Inc. of Reno, Nevada. This is Copart's second auction facility in Nevada and the company's 96th location.
    "The new Nevada location is in the central area of Reno near the junction of Interstate 80 and 395," said Willis J. Johnson, Copart's Chief Executive Officer. "The new facility will allow us to better serve our suppliers in the Reno/Tahoe area. Previously this area was served by our Sacramento facilities, which are 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 96 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 most recent Annual report on Form 10-K, and all reports on Forms 10-Q and 8-K since the date of such report of Form 10-K, such as: the dependence on a limited number of major suppliers of salvage vehicles; competitive factors; the inability to continue growing, or maintaining the Company's growth rate, by the acquisition and development of new facilities or through the continued growth of existing 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 or salvage facilities; 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 affecting vehicle accident rates and auction attendance; 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.