---

Republic Industries, Inc. Invests In Ark Direct Capital Fund

15 September 1997

Republic Industries, Inc. Invests In Ark Direct Capital Fund; Companies Will Seek Out Minority and Women-Owned Automotive Dealerships

    FORT LAUDERDALE, Fla., Sept. 15 -- Republic Industries, Inc.
announced today that it has entered into an agreement with Ark
Direct Capital Fund, L.P. whereby Republic will invest $2 million in the Fund
and will work with the Fund's principals to identify investment opportunities
in minority and women-owned automotive dealerships, automotive rental
companies and related businesses.  Ark is a minority-owned and operated
capital investment fund based in Chicago.
    According to Steven R. Berrard, President and Co-Chief Executive Officer
of Republic Industries, "It is important to Republic's continued success that
we invest in high quality minority- and women-owned automotive dealerships,
automotive rental companies and other related businesses.  We want to be sure
that as we grow, our network of dealerships includes a diverse range of
businesses that meet the transportation needs of every community.  Our
partnership with Ark Direct Capital is an excellent way for Republic to meet
these objectives."
    According to Michael Y. Granger, one of two founding principals of Ark,
"Ark's agreement with Republic Industries is an important step forward in
Republic's efforts to identify high performing automotive businesses that are
controlled by minorities and women.  We believe that Ark will provide Republic
with important guidance in this effort.  We look forward to working with
Republic to help the company realize the benefits of reaching a more diverse
business community."
    Ark Capital Management was formed in 1991 by Michael Y. Granger and Xcylur
R. Stoakley to identify market opportunities for venture capital investment in
minority- and women-controlled businesses.  The principals are both venture
capital professionals with substantial experience in selecting, structuring
and managing private equity investments, and have developed an extensive
network of relationships within the general business community and the
minority business sector.
    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.