America's Car-Mart Issues Earnings Guidance for Fiscal 2004

    BENTONVILLE, Ark.--April 29, 2003--America's Car-Mart, Inc. announced today that it is targeting diluted earnings per share of $2.01 for its fiscal year ending April 30, 2004. The projected diluted earnings per share by fiscal quarter is as follows:

                                                  Projected Diluted
          Period                Period Ending             EPS
---------------------------  ------------------- --------------------
        1st Quarter                     7-31-03            $0.50
        2nd Quarter                    10-31-03            $0.48
        3rd Quarter                     1-31-04            $0.47
        4th Quarter                     4-30-04            $0.56
                                                 ----------------

        Fiscal 2004                     4-30-04            $2.01
                                                 ================

    Commenting on the earnings guidance, T.J. ("Skip") Falgout, III, the Company's Chief Executive Officer, stated, "We are anticipating revenue growth of approximately 16% next year from the six to eight new dealerships we plan to open, principally in the northeastern portion of Texas, as well as growth in same store sales. With that level of top line growth, we expect bottom line growth of about 17%, which equates to about $2.01 per diluted share for the fiscal year ending April 30, 2004."

    About America's Car-Mart

    America's Car-Mart 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. For more information on America's Car-Mart, please visit our website 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 and economic conditions, 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.