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Cross-Continent Completes Merger

22 March 1999

Cross-Continent Completes Merger

    AMARILLO, Texas, March 20 -- Cross-Continent Auto Retailers,
Inc. , of Amarillo, Texas, today announced that it has consummated
the previously announced merger of Cross-Continent with a wholly-owned
subsidiary of Republic Industries, Inc. .
    Under the terms of the merger, Cross-Continent shareholders will receive
$10.70 in cash for each share of Cross-Continent.  Trading in Cross-Continent
on the NYSE ceased at the close of business on March 19, 1999.
    Cross-Continent intends to promptly transmit to its shareholders
instructions and related transmittal letters for surrending their shares to
the paying agent for the merger, The Bank of New York.  The merger
consideration will be paid to each shareholder promply upon receipt by the
paying agent of the required documentation from such shareholder.
    Cross-Continent Auto Retailers, Inc., owns and operates franchised
automobile retail dealerships in Las Vegas, Nevada; Amarillo, Texas, and in
Oklahoma City, Oklahoma.  Through its dealerships, Cross-Continent sells new
and used cars and light trucks, arranges related financing and insurance,
sells replacement parts and provides vehicle maintenance and repair services.