Capital Automotive Announces Planned Monthly Income Notes Offering

MCLEAN, Va., March 15 -- Capital Automotive REIT , the nation's leading specialty finance company for automotive retail real estate, today announced that it will file with the Securities and Exchange Commission a preliminary prospectus supplement to a shelf registration statement for the public offering of $150 million of monthly income notes. The Company will also grant the underwriters an over-allotment option to purchase up to an additional $22.5 million of monthly income notes. All of the monthly income notes are being sold by the Company.

A.G. Edwards & Sons, Inc. is expected to be sole bookrunner and a joint lead manager, and Credit Suisse First Boston is expected to be a joint lead manager.

Copies of the preliminary prospectus supplement may be obtained from the offices of A.G. Edwards & Sons, Inc., One North Jefferson Avenue, St. Louis, Missouri 63103, telephone: (314) 955-3000.

About Capital Automotive

Capital Automotive, headquartered in McLean, Virginia, is a self- administered, self-managed real estate investment trust that acquires real property and improvements used by operators of multi-site, multi-franchised automotive dealerships and related businesses. Additional information on Capital Automotive is available on the Company's Web site at http://www.capitalautomotive.com/.

  Contact Information
   David S. Kay
   Vice President, Chief Financial Officer and Treasurer
   Capital Automotive REIT
   703.394.1302