UnitedAuto Announces Dividend

BLOOMFIELD HILLS, Mich.--Oct. 2, 20031, 2003--United Auto Group, Inc. , today announced that its Board of Directors declared a cash dividend of $0.10 per share for the third quarter of 2003.

Roger S. Penske, Chairman of UnitedAuto commented: "Since 1999, UnitedAuto has increased its revenue from $3.3 billion to $7.4 billion in 2002. In addition, through our operating expertise and investment in world-class facilities, UnitedAuto has increased same store retail revenue by an industry leading average of 8.2% over the same period. This strong operating performance has enabled us to generate a level of earnings that substantiates the payment of this dividend. At the same time, we have maintained the financial flexibility that will allow us to continue to pursue our growth initiatives that include facility improvements and selective acquisitions. I am pleased that the dividend also provides our shareholders with an immediate cash return in a tax environment more favorable toward dividends than in any period in recent history."

The dividend will be paid to shareholders of record on November 10, 2003 and will be payable on December 1, 2003.

UnitedAuto, which has pursued a strategy based on internal growth from its existing dealerships, as well as from strategic acquisitions, operates 134 franchises in the United States and 79 franchises internationally, primarily in the United Kingdom. UnitedAuto dealerships sell new and used vehicles, and market a complete line of after-market automotive products and services.