America's Car-Mart Announces Opening of New Dealerships

    BENTONVILLE, Ark.--Feb. 4, 2003--America's Car-Mart, Inc. today announced the opening of two new dealerships located in Wichita Falls, Texas and Pine Bluff, Ark.
    These new locations mark the eighth and ninth new dealerships opened since the Company's current fiscal year began on May 1st, bringing the total number of Car-Mart dealerships to 64. The dealership in Pine Bluff opened for business this past Friday (Jan. 31), and the dealership in Wichita Falls is expected to open by the end of February.
    "With the addition of these new dealerships, we have now exceeded our growth expectations for the fiscal year," commented T.J. ("Skip") Falgout, Chief Executive Officer of America's Car-Mart, Inc. "The Wichita Falls dealership is our fourth location in North Texas, and we expect to continue to focus heavily on expanding throughout the North Texas area," added Falgout. "The new Pine Bluff dealership is actually our second location in that city, and thus will serve as an added collection center for our mature Pine Bluff store in addition to selling and financing its own vehicles."
    "Although further expansion within the State of Arkansas is not our main priority, the new Pine Bluff location provides an opportunity to take advantage of our growth in the Pine Bluff area and our strong existing reputation there, as well as aiding our larger store in collections across what is now a fairly large town," stated Hank Henderson, President of America's Car-Mart, Inc. "The Wichita Falls location is more in line with our current expansion plans as North Texas, East Texas and Oklahoma will continue to be our primary focus areas for the remainder of this fiscal year and the next," continued Henderson. "We believe that there are a number of towns in these regions that offer favorable demographics, available commercial property and proximity to regional management, so we expect Wichita Falls to be the first of several to follow within this region."

    About America's Car-Mart

    America's Car-Mart with the opening of these two dealerships operates 64 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 throughout the South-Central United States, selling quality used vehicles and providing financing for substantially all of its customers.
    Included herein are forward-looking statements, including statements with respect to opening new dealerships. There are many factors that affect management's view about expansion plans. These factors involve risks and uncertainties that could cause actual results to differ materially from management's present view. All forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.