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Capital Automotive REIT Appoints Peter C. Staaf

27 October 1998

Capital Automotive REIT Appoints Peter C. Staaf as Vice President-Treasurer

    MCLEAN, Va., Oct. 27 -- Capital Automotive REIT
today announced the appointment of Peter C. Staaf to the
position of Vice President-Treasurer of the REIT.  Mr. Staaf is responsible
for raising debt financing as well as directing the Company's structured
finance efforts.  Mr. Staaf will also be a member of the Company's investment
committee.
    Prior to joining Capital Automotive REIT, Mr. Staaf was managing director,
head trader and manager of fixed income at Cleary Gull Reiland & McDevitt
Incorporated, a Milwaukee-based, boutique investment banking firm.  Mr. Staaf
was responsible for establishing the regional mortgage trading and sales
effort focused primarily on credit sensitive and subordinate mortgage-backed
securities.
    Earlier in his career, Mr. Staaf served as Vice President of mortgage
trading at Smith Barney Shearson Incorporated with direct responsibility for
structuring, bidding, hedging and marketing non-agency pass throughs, whole
loans and managing secondary mortgage positions.  Prior to joining Smith
Barney Shearson, he spent seven years with Pulte Financial Companies, Inc.
where his most recent position was President.  Mr. Staaf has also served in a
senior position at Blunt Ellis & Loewi Incorporated, a major regional
broker/dealer.
    Thomas D. Eckert, president and chief executive officer, stated, "We are
pleased to add Pete's 20 years of experience in finance to the Capital
Automotive team.  His significant expertise in building, managing and growing
financial practices coupled with his vast understanding of mortgage securities
will be advantageous as we begin to add leverage to our balance sheet.  Pete's
expertise will create multiple financing alternatives which will be necessary
to sustain our growth through acquisitions."
    Mr. Staaf holds a Bachelor of Science in Economics and History and a
Masters of Business Administration from the University of Wisconsin.
    Capital Automotive REIT, headquartered in McLean, Virginia, is a
self-administered, self-managed real estate investment trust formed to acquire
the real property and improvements used by operators of multi-site,
multi-franchised motor vehicle dealerships and motor vehicle related business.
Additional information on Capital Automotive REIT is available on the
Company's website at http://www.capitalautomotive.com.
    The matters discussed in this press release include forward-looking
statements.  In addition, when used in this press release, the words "intends
to," "believes," "anticipates," "expects" and similar expressions are intended
to identify forward-looking statements.  Such statements are subject to a
number of risks and uncertainties.  Actual results in the future could differ
materially and adversely from those described in the forward-looking
statements as a result of various important factors, including the general
economic climate, the supply of and demand for automotive properties, interest
rate levels, the availability of financing, and other risks associated with
the acquisition and leasing of properties, including risks that the tenants
will not pay rent or that operating costs may be greater than anticipated and
the other risk factors set forth in the Company's filings with the Securities
and Exchange Commission.  The Company undertakes no obligation to publicly
release the result of any revisions to these forward-looking statements that
may be made to reflect any future events or circumstances.