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Group 1 Automotive Increases Credit Facility

18 May 1999

Group 1 Automotive Increases Credit Facility

                            $500 Million Facility

    HOUSTON, May 18 -- Group 1 Automotive, Inc. , a
leading operator and consolidator in the automotive retailing industry,
announced today that it has increased and amended its existing revolving
credit facility.  The $425 million facility was increased to $500 million, the
interest rate on the floorplan portion of the facility lowered, certain
administration costs reduced and some loan covenants favorably modified.
    Additionally, two automotive captive finance subsidiaries, Ford Motor
Credit Company and Toyota Motor Credit Corporation, joined the bank syndicate,
bringing the total syndicate membership to 12.  Group 1 believes the addition
of the two automotive captives to its facility is unique and adds significant
capacity to the syndicate.
    B.B. Hollingsworth Jr., Group 1's chairman, president and chief executive
officer noted that this is the third time the facility has been increased and
the syndicate group expanded.  "Our original revolving credit facility,
completed in December 1997 with a group of five banks, was for $125 million,"
he said.  "Once again, our request for an increase was oversubscribed.  We are
pleased with the strong support received from this lending syndicate."
    Hollingsworth added, "The increase in the facility, as well as our
recently completed debt and stock offerings, gives us the resources necessary
to continue to execute our acquisition strategy."  According to Hollingsworth,
the acquisition portion of the facility, which totals $110 million, is
undrawn.
    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.
    Group 1 Automotive, Inc. can be reached on the Internet at
http://www.group1auto.com