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Republic Industries to Sell Remaining Shares of Republic Services

3 March 1999

Republic Industries to Sell Remaining Shares of Republic Services; Company Will Re-Invest Proceeds in Core Automotive Retailing Business REPUBLIC INDUSTRIES LOGO Republic Industries Logo (PR NewsFoto)[PH] FORT LAUDERDALE, FL USA 12/23/1998     
    FORT LAUDERDALE, Fla., March 3 -- Republic Industries, Inc.
today announced that it will sell all of its shares of Republic
Services, Inc. in a public offering.  The Company had said
previously that it planned to distribute its shares of RSG to shareholders of
RII on a tax-free basis, if it could obtain a favorable ruling from the
Internal Revenue Services (IRS).  Despite several meetings and supplemental
filings with the IRS, and subsequent meetings with the Treasury Department,
Republic Industries was unable to obtain a favorable ruling on the proposed
distribution.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/19981224/FLTH001)
    Steven R. Berrard, Co-Chief Executive Officer of Republic Industries,
said, "Given the IRS' decision, we cannot proceed with the planned tax-free
distribution.  The Board therefore explored a number of alternatives to
provide a direct benefit to our stockholders.  All of these alternatives
involved a tax on both the Company's offering and the distribution to our
stockholders.  Considering that, the Board determined that the best way to
create long-term value for our stockholders would be to invest the cash
proceeds from the offering in our core automotive businesses."
    A registration statement has been filed to register for sale all of
Republic Industries' 112.2 million shares of Republic Services' common stock.
All shares of Class B common stock owned by Republic Industries have been
converted into shares of Class A common stock.
    Assuming favorable market conditions, Republic Industries anticipates
completing the proposed offering in the second quarter of 1999.  The offering
will be made only by means of a prospectus.
    As a result of the decision to sell its interest in Republic Services, the
Company will be required to report its solid waste services segment as a
discontinued operation.
    Republic Industries, Inc. operates subsidiaries in the automotive
retailing and automotive rental industries.  The Company owns the nation's
largest chain of new vehicle dealerships and the AutoNation USA chain of used
vehicle megastores.  The Company owns National Car Rental System, Inc., Alamo
Rent-A-Car, Inc. and CarTemps USA.
    Republic Services, Inc. is one of the leading providers of non-hazardous
solid waste collection and disposal services in the U.S.

    Certain statements and information included in this release constitute
"forward-looking statements" within the meaning of the Federal Private
Securities Litigation Reform Act of 1995.  Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements
expressed or implied in such forward-looking statements.  Additional
discussion of factors that could cause actual results to differ materially
from management's projections, forecasts, estimates and expectations is
contained in the Company's SEC filings.