UnitedAuto Completes Stevens Acquisition; Enters New Market Area - Northern California

BLOOMFIELD HILLS, Mich.--Aug. 9, 2004--UnitedAuto Group, Inc. , a FORTUNE 500 automotive specialty retailer, is pleased to announce it has completed the acquisition of three Honda and two Acura dealerships from the Ted Stevens Automotive Network in the San Francisco Bay area.

The acquired franchises are:

-- Capitol Honda in San Jose

-- Marin Honda in Marin County

-- Honda North in Clovis, a suburb of Fresno

-- Los Gatos Acura in San Jose/Los Gatos

-- Sunnyvale Acura in San Jose/Sunnyvale

These dealerships are expected to add approximately $300 million in revenue on an annual basis. UnitedAuto now operates 16 franchises in California and 22 Honda and Acura franchises in the United States.

About UnitedAuto

UnitedAuto, which has pursued a strategy based on internal growth from its existing dealerships, as well as from strategic acquisitions, operates 145 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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