America's Car-Mart, Inc. Steps Up Share Repurchase Program; Company Reaffirms Earnings Guidance

    BENTONVILLE, Ark.--Oct. 9, 2002--America's Car-Mart, Inc. today announced that in connection with its previously authorized share repurchase program, the Company has increased the repurchase of its common stock in the open market and in private transactions.
    The Company believes that the recent price of its common stock represents a tremendous buying opportunity and accordingly has recently stepped up its share repurchase program. The Company has repurchased about 90,000 shares thus far during its second fiscal quarter ending Oct. 31, 2002.
    Additionally, the Company reaffirmed its earnings guidance from continuing operations for the second quarter ending Oct. 31 and its fiscal year ending April 30, 2003 of $0.38 per diluted share, and $1.67 per diluted share, respectively.
    "Considering that our stock is trading at about six times current year expected earnings of $1.67 per share, and we are projecting long term earnings growth in the 16% to 18% range (26% for fiscal 2003), we believe the purchase of our own stock is a good use of the Company's capital," stated T. J. ("Skip") Falgout, III, the Company's Chief Executive Officer.

    About America's Car-Mart

    America's Car-Mart operates 62 automotive dealerships in seven states and is the largest publicly held automotive retailer in the United States focused exclusively on the "Buy Here/Pay Here" segment of the used car market. The Company operates its dealerships primarily in small cities and rural locations throughout the South-Central United States, selling quality used vehicles and providing financing for substantially all of its customers. For more information on America's Car-Mart, please visit our Web site at www.car-mart.com.

    Included herein are forward-looking statements, including statements with respect to projected earnings per share amounts. There are many factors that affect management's view about future earnings. These factors involve risks and uncertainties that could cause actual results to differ materially from management's present view. These factors include, without limitation, assumptions relating to unit sales, credit losses, gross margins, operating expenses, economic conditions, obtaining appropriate permits and licenses and other risk factors described under "Forward-Looking Statements" of Item 1 of Part I of the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2002. All forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company does not undertake any obligation to update forward-looking statements.