Two Directors Re-Elected to Group 1 Automotive Board
17 May 1999
Two Directors Re-Elected to Group 1 Automotive BoardDuncan, Smith to Serve Three-Year Terms HOUSTON, May 17 -- Group 1 Automotive, Inc. , a leading operator and consolidator in the automotive retailing industry, announced the re-election of two directors for three-year terms. The election was held at the company's annual meeting. John H. Duncan, 71, was elected a director of Group 1 in June 1997. He is the former president of Gulf & Western Industries, a company he co-founded. Duncan is currently a private investor with holdings in the automotive, oil and gas and real estate industries. He currently serves as a director, chairman of the executive committee and member of the compensation committee of Enron Corporation, a director and chairman of the compensation committee of Enron Oil Trading & Transportation and a director of Enron Oil and Gas Company. Duncan also serves on the board of trustees of Southwestern University, the board of trustees of the Texas Heart Institute and the board of visitors of the University of Texas Cancer Foundation. Charles M. Smith, 53, has served as a director of Group 1 since the company's formation in December 1995. Smith has 29 years of automotive retailing experience and has served as the company's senior vice president -- industry relations since January 1999. He is a former chairman of the American International Automobile Dealers Association and is vice chairman of the Texas Automobile Dealers Association. Smith has won the Time Magazine Quality Dealer Award and the Sports Illustrated All-Star Dealer Award. "I am very pleased that Charles and John have been re-elected to the board," stated B.B. Hollingsworth Jr., Group 1's chairman, president and chief executive officer. "Both have been instrumental in the success of Group 1 and their expertise will be invaluable as we continue to successfully execute our consolidation strategy." Group 1 is a leading operator and consolidator in the highly fragmented automotive retailing industry. Upon completion of all announced acquisitions, Group 1 will own 83 dealership franchises comprised of 24 different brands, and 17 collision service centers located in Texas, Oklahoma, Florida, New Mexico, Colorado, and Georgia. 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, vehicle service and insurance contracts. For additional information regarding Group 1 Automotive free of charge via fax, dial 1-800-PRO-INFO and use the company's stock symbol, "GPI." Group 1 Automotive, Inc. can be reached on the Internet at http://www.group1auto.com