AutoNation To Acquire Glauser Mercedes-Benz In Sarasota, Florida

FORT LAUDERDALE, Fla., Jan. 15, 2004 -- AutoNation, Inc. , America's largest retailer of new and used automobiles, today announced that it has signed an agreement to acquire the only Mercedes-Benz dealership in the growing Sarasota, Florida, market. Once closed, the acquisition of Glauser Mercedes-Benz will bring to 65 the total number of new vehicle franchises owned and operated by AutoNation in the Florida market, including five Mercedes-Benz franchises.

Terms of the all-cash asset acquisition, which is subject to customary conditions and approvals, were not disclosed. Closing is anticipated for the first quarter of 2004.

Glauser Mercedes-Benz's 2003 revenues were approximately $150 million, with sales of nearly 1,700 new vehicles and 550 used vehicles. The dealership services vehicles from across the dynamic and expanding Sarasota luxury market with their fully equipped, state-of-the-art service facility. They are also an authorized Maybach retailer, with a Maybach Studio dedicated exclusively to the Maybach luxury vehicle.

"The Glauser Mercedes-Benz acquisition furthers our strategy of expanding our luxury vehicle business," said Michael E. Maroone, AutoNation's president and chief operating officer. "Glauser Mercedes-Benz will be a great addition to our family of AutoNation owned dealerships in Florida and it reinforces our commitment to providing our customers the widest possible selection of quality cars anywhere."

AutoNation currently offers customers in Florida new vehicles from Cadillac, Chevrolet, Chrysler-Jeep, Dodge, Ford, Honda, Lexus, Lincoln- Mercury, Nissan, Pontiac GMC, Porsche and Toyota, as well as used vehicles, parts and service, and finance and insurance products.

About AutoNation, Inc.

AutoNation, Inc., headquartered in Fort Lauderdale, Fla., is America's largest retailer of new and used automobiles. Ranked #93 on the Fortune 500, AutoNation employs approximately 28,500 people at 373 new vehicle franchises in 18 states. Additional information is available at www.autonation.com, where consumers can find approximately 100,000 vehicles available for sale.