Copart Announces Exclusive National Contract with SAFECO

    BENICIA, Calif.--Sept. 25, 2002--Copart, Inc. today announced that SAFECO , one of the premier property/casualty insurers in the United States, has entered into a nationwide agreement with Copart for salvage vehicle processing. Under the agreement, Copart will be SAFECO's exclusive vendor in the United States.
    "Copart now has over 80 national contracts in place," said Willis J. Johnson, Copart's chief executive officer. "SAFECO put us through a strenuous selection process that tested procedures, service levels, and results. Thanks to advantages such as Copart's 96 locations nation-wide, proxy and virtual Internet bidding with consolidated reporting, electronic communications, nationwide buyer base, overall return on salvage and reduction in cost, we were their vendor of choice. We are very pleased that SAFECO has recognized the excellence of Copart systems and people."

    About SAFECO: In business since 1923, is a Fortune 500 company based in Seattle that sells insurance and related financial products through more than 17,000 independent agents and financial advisors.

    About Copart: 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: This press release contains forward-looking statements within the meaning of federal securities laws, including statements about new supply relationships. Our actual results could differ materially from those projected in these forward-looking statements as a result of a number of factors, many of which are outside our control. We depend on a limited number of major suppliers of salvage vehicles. If we are unable to maintain these supply relationships, our revenues and operating results would be adversely affected. In addition, our revenues, operating results, financial condition, and growth rates are subject to numerous other risks, including weather conditions, our ability to complete and integrate new acquisitions, environmental and regulatory risks, and the other factors described under the caption "Factors that may effect future results" in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We encourage investors to review these disclosures carefully.