Park Place Dealerships Purchases Volvo Dealership in Irving, Texas

DALLAS--April 3, 2006--Park Place Dealerships, a Dallas-based automotive group, has purchased Point West Volvo of Irving, Texas, for an undisclosed price. The dealership will be renamed Park Place Volvo and will be the ninth dealership for Park Place which now represents 12 luxury brands.

"Volvo has a great reputation for safety, environmental care and quality," stated Ken Schnitzer, Chairman of Park Place Dealerships. "The Volvo product fits nicely into our line-up. For the Volvo owner, we look forward to assisting them with their purchasing and servicing needs. The addition of the Volvo brand will give our current client base an opportunity to own and service a Volvo while also enjoying the benefits of being a Park Place client."

Park Place Volvo presently is located at 2200 Carl Road off Highway 183 in Irving. Plans to move the dealership to a new location are underway with details to be announced at a later date.

The dealership currently employs 53 people with that number expected to grow. With Park Place's high name recognition and proven processes, the company anticipates Park Place Volvo will see significant increases in sales and service volume over the next 12 - 14 months.

"The Volvo brand has a solid reputation and a strong, loyal client base," said Neil Grossman, president of Park Place Dealerships. "Adding the Volvo brand into our dealership group reinforces Park Place's commitment to providing our clients with a diverse collection of brands in the luxury market."

Park Place Volvo will immediately be integrated into Park Place's community relations program. Park Place Dealerships currently supports numerous organizations throughout Dallas/Fort Worth, including: Big Brothers/Big Sisters, Children's Medical Center, Texas Rangers Foundation, Dallas Stars Foundation, as well as numerous other charities.

Park Place Dealerships also represents Mercedes-Benz, Lexus, Porsche, Land Rover, Jaguar, Rolls-Royce, Bentley and Maserati. Founded in 1987 by Ken Schnitzer with Park Place Motorcars, the company now employs more than 1,000 people.

Park Place Lexus was recently named a 2005 recipient of the Malcolm Baldrige National Quality Award, the highest level of national recognition for excellence. Park Place is the only automobile dealer to ever win this prestigious Presidential award.

More information on Park Place Dealerships is available at www.parkplacetexas.com.