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Group 1 Automotive Expands and Extends Credit Facility

13 November 1998

Group 1 Automotive Expands and Extends Credit Facility

                  Secures $425 Million through December 2001

    HOUSTON, Nov. 12 -- Group 1 Automotive, Inc. , a
leading operator and consolidator in the automotive retailing industry,
announced today that it has expanded its existing revolving credit facility.
The $345 million facility has been increased to $425 million and the term has
been extended from December 2000 to December 2001.  Funds will be used for
acquisitions, inventory financing, capital expenditures, working capital and
general corporate purposes.
    B.B. Hollingsworth Jr., Group 1's chairman, president and chief executive
officer, said, "This is the second time in less than six months that we have
increased our credit facility.  We are extremely pleased with the strong
support we have received from our bank group and the confidence they have in
our ability to execute our acquisition strategy."
    The original revolving credit facility, completed in December 1997 with a
group of five banks, was for $125 million.  In June, the revolver was
increased to $345, and six new bank participants were added.  The current bank
group is comprised of administrative agent Chase Bank of Texas, Comerica Bank,
the floorplan agent, NationsBank, the documentation agent, co-agents U.S.
Bank, Bank of America, Bank One and Bank Boston, and five other participants.
    Group 1 is a leading operator and consolidator in the highly fragmented
automotive retailing industry.  Group 1 owns 57 dealership franchises
comprised of 22 different brands, and 12 collision service centers located in
Texas, Oklahoma, Florida, New Mexico, Georgia and Colorado.  Through its
dealerships the company sells new and used cars and light trucks, provides
maintenance and repair services, sells replacement parts and arranges related
financing, insurance and vehicle service contracts.
    This press release contains certain forward-looking statements within the
meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934,
which involve known and unknown risks, uncertainties or other factors not
under the company's control which may cause the actual results, performance or
achievements of the company to be materially different from the results,
performance or other expectations implied by these forward-looking statements.
Some of these risks and factors include, but are not limited to those
disclosed in the company's filings with the Securities and Exchange
Commission.
    Group 1 Automotive, Inc. can be reached on the Internet at
http://www.group1auto.com.