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Sonic Automotive, Inc. Continues To Achieve Efficiencies Of Scale

7 October 1998

Sonic Automotive, Inc. Continues To Achieve Efficiencies Of Scale Through Consolidation Of Their Retail Lenders

    CHARLOTTE, N.C., Oct. 7 -- Sonic Automotive, Inc.
continues to execute its operating strategy by achieving efficiencies of scale
through the consolidation of its retail leading sources, which provide
financing of automobile purchases for Sonic's customers.  Sonic Automotive,
Inc. is pleased to introduce NationsBank and World Omni Financial Corporation
as members of its regional preferred Lending Group. Sonic is pleased to have
two such retail lenders with the quality, commitment and an infrastructure to
grow with Sonic Automotive, Inc.
    NationsBank Corporation, with $308 Billion in assets, is the third largest
U.S. bank with full-service operations in 16 states and the District of
Columbia. NationsBank provides financial products and services to 18 million
households and 1 million businesses as well as institutional investors and
government agencies throughout the United States and in major markets around
the world. NationsBank Dealer Financial Services Group is the number one
bank-owned finance company in the nation and among the top three dealer
finance companies.
    World Omni Financial Corporation, of Deerfield Beach, Florida has serviced
assets of more than $8 billion. World Omni Financial Corp. offers a complete
range of customer-driven automotive financial products and services to
automotive retailers throughout the U.S.  In addition to its Florida
headquarters, World Omni has major customer service centers in Mobile, AL and
St. Louis, MO.  World Omni is a subsidiary of JM Family Enterprises, Inc., a
diversified automotive corporation ranked by Forbes magazine as the 27th
largest privately held corporation in the United States.
    Mr. B. Scott Smith, President and Chief Operating Officer of Sonic
Automotive, Inc., stated, "We are excited to have premiere lending
institutions such as NationsBank and World Omni Financial to participate in
our lender consolidation process.  Sonic's ability to successfully execute our
lender consolidation strategy relies heavily upon the support of our people
and our preferred lenders.  Preliminary results of our lender consolidation
have been very encouraging. Essentially, the better that we manage portfolios,
the more economic benefit Sonic will receive."
    Sonic Automotive, Inc. is one of the leading automotive retailers in the
United States, with operations in Alabama, Florida, Georgia, North Carolina,
Ohio, South Carolina, Tennessee and Texas.
    Included herein are forward-looking statements, including statements with
respect to anticipated revenue growth.  There are many factors, which affect
management's views about future events and trends of the Company's business.
These factors involve risk and uncertainties that could cause actual results
or trends to differ materially from management's view, including without
limitation economic conditions, risks associated with acquisitions and the
risk factors set forth from time to time in the Company's filings with
Securities and Exchange Commission.