UnitedAuto Acquires Glenvarigill in Scotland; Bentley, Ferrari, Maserati and Porsche Franchises Added

BLOOMFIELD HILLS, Mich.--July 13, 2004--UnitedAuto Group, Inc. , a FORTUNE 500 automotive specialty retailer, today announced the acquisition of the specialist car business of Glenvarigill in Scotland. Terms of the transaction were not disclosed.

The dealerships acquired were Bentley, Ferrari, Maserati and Porsche in Edinburgh, the capital city of Scotland. UAG also acquired a Porsche franchise in Glasgow, Scotland's largest city. These dealerships represent an expansion of the Company's United Kingdom-based Sytner business and will be managed by the Sytner team. The Glenvarigill dealerships are expected to generate annual revenue of approximately $60 million.

Commenting on the acquisition of Glenvarigill, UnitedAuto Chairman Roger Penske said, "We are particularly pleased to acquire these premium franchises in the Scotland market. These franchises allow us to expand our worldwide presence with four of the premier auto manufacturers in the world today, and further strengthen our pre-owned business with sales of previously owned vehicles expected to be on par with new vehicle unit sales."

About UnitedAuto

UnitedAuto, which has pursued a strategy based on internal growth from its existing dealerships, as well as from strategic acquisitions, operates 139 franchises in the United States and 103 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.

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