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AutoNation Confirms Q3 Analysts' Consensus Earnings Estimate

19 October 1999

AutoNation, Inc. Confirms Third Quarter Analysts' Consensus Earnings Estimate Of $0.22 Per Share From Continuing Operations; Board Authorizes Additional $250 Million Share Repurchase Program

    FORT LAUDERDALE, Fla., Oct. 19 -- AutoNation, Inc.
today confirmed that the Company will achieve the analysts'
consensus earnings estimate of $0.22 per share from continuing operations in
the third quarter of this year. AutoNation said it would release complete
third quarter financial results on Thursday, October 28.
    The Company also announced that its Board of Directors has authorized an
additional share repurchase program of up to $250 million of the Company's
common stock. The Company has repurchased $1 billion of its common stock over
the past 12 months under previously approved share repurchase programs.
    AutoNation, Inc. is the world's largest automotive retailer, with more
than 412 automotive franchises in 24 states. AutoNation also operates more
than 270 web sites, including AutoNationdirect.com, offering the Internet's
largest selection of new and used vehicles for sale. Its automotive rental
operations, which the Company has announced it will spin off in the form of a
tax-free dividend of shares to AutoNation shareholders, include Alamo Rent-A-
Car, Inc., National Car Rental system, Inc. and CarTempsUSA, which operate
nationally and in more than 65 countries.
    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, performances, 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.