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Republic Industries to Buy More Dealerships

15 August 1997

Republic Industries, Inc. To Acquire Car Dealerships In Florida, Nevada; Kenyon Dodge of Clearwater and Coward Lincoln-Mercury of Las Vegas Sell For $26 Million

    FORT LAUDERDALE, Fla., Aug. 15 -- Republic Industries, Inc.
announced today that it has signed definitive agreements to
acquire Kenyon Dodge of Clearwater, Florida, and Tom Coward Lincoln-Mercury of
Las Vegas, Nevada, in separate transactions valued at a total of approximately
$26 million.  The transactions include all related real estate and are subject
to certain conditions, including manufacturer and government approval.
    Kenyon Dodge is the largest Dodge dealer in Pinellas County, Florida.
Mark Carlson, 48, is the General Manager of Kenyon Dodge. As part of the
transaction, Mr. Carlson will enter into a long-term employment agreement with
Republic Industries and will retain his responsibilities at the dealership.
The acquisition will be Republic's third in the Tampa/Clearwater area, where
the company has signed definitive agreements to acquire The Carlisle Group,
which includes Lincoln-Mercury, Ford, Acura, and Hyundai dealerships, and The
Salhany Group, which includes two Lexus dealerships.  Republic is also
constructing two AutoNation USA used car megastores in the Tampa area.
    Tom Coward Lincoln-Mercury is a single store dealership in Las Vegas,
Nevada. Tom Coward, 74, the dealer principal, will exit the business upon
closing and Republic will appoint a new general manager prior to closing the
transaction. The acquisition is Republic's second in Las Vegas, where the
company has signed an agreement to acquire the Desert Automotive Group, which
includes GMC, Buick, and Volvo dealerships.  Republic recently opened an
AutoNation USA used car megastore in nearby Henderson, Nevada.
    Steven R. Berrard, President and Co-Chief Executive Officer of Republic
Industries, said, "These  acquisitions clearly demonstrate that Republic's
strategy of clustering its new, used, and rental car businesses is taking
shape in such important markets as Tampa/St. Petersburg and Las Vegas.  We are
excited to welcome Kenyon Dodge and Tom Coward Lincoln-Mercury into Republic's
growing family of outstanding new car dealerships."
    Mark Carlson said, "We are investing in Republic because we believe the
company has the right strategy for improving the retail distribution of cars.
The dealers that have already joined Republic are among the best and brightest
in the business, and we're  proud to be adding our many years of experience
and automotive know-how to that team."
    Republic Industries, Inc. operates subsidiaries in the automotive
retailing, automotive rental, automotive financial services, solid waste
services, and electronic security services industries. The company owns the
world's largest chain of new car dealerships and is building a chain of used
car dealerships under the AutoNation USA brand name.  Republic also owns the
National, Alamo, Value, Snappy, and Spirit car rental companies, and solid
waste service and electronic security service companies which operate under
their own regionally known business names.

SOURCE  Republic Industries, Inc.