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BancAmerica Robertson Stephens Initiates Coverage of Sonic Automotive

7 January 1998

BancAmerica Robertson Stephens Initiates Coverage of Sonic Automotive

    SAN FRANCISCO, Jan. 7 -- BancAmerica Robertson Stephens
research analyst Jordan Hymowitz initiated coverage today on Sonic Automotive,
Inc. with a Buy rating and a one-year target price of $18.
    "We believe Sonic Automotive is one of two quality larger dealership
groups that have recently accessed the public markets.  In an industry beset
by several weak public competitors that failed to achieve consensus earnings,
we believe Sonic will quickly distinguish itself as a leader in
revolutionizing the auto retailing industry," said Hymowitz.
    Sonic Automotive, Inc. is headquartered in Charlotte, North Carolina and
is the nation's tenth-largest auto retailer.
    BancAmerica Robertson Stephens is a leading international investment
banking firm focused on emerging growth companies.  The firm's 47 senior
research analysts cover over 500 companies.

    The information contained herein is not a complete analysis of every
material fact respecting any company, industry or security.  Although opinions
and estimates expressed herein reflect the current judgment of the Firm, the
information upon which such opinions and estimates are based is not
necessarily updated on a regular basis; when they are the date of the change
in estimate will be noted.  In addition, opinions and estimates are subject to
change without notice.  This Report contains forward-looking statements, which
involve risks and uncertainties.  The Company's actual results may differ
significantly from the results described in the forward-looking statements.
Factors that might cause such a difference include, but are not limited to,
those discussed in "Investment Risks."  BancAmerica Robertson Stephens from
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are subject to investment risk, including possible loss of any principal
amount invested.

SOURCE  BancAmerica Robertson Stephens