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$193.3 Million Capital Automotive Securitization

20 October 1999

$193.3 Million Capital Automotive Securitization

                          Moody's Assigns Aaa Rating

    McLEAN, Va., Oct. 20 -- Moody's Investors Service has
assigned long-term ratings of Aaa for three classes of certificates in a
securitization of 78 Capital Automotive dealership properties
totaling $193.3 million.  The securitization is sponsored by affiliates of
Deutsche Banc Alex. Brown.  Moody's rating on the Class A certificates is
based on a financial guaranty policy issued by MBIA Insurance Corporation, a
subsidiary of MBIA Inc. .  The class B certificates were not
wrapped by MBIA Insurance Corporation and rated Aaa by Moody's.
    The certificates are supported by four loans made by two Deutsche Banc
Alex. Brown commercial mortgage origination affiliates (Global Alliance
Finance Company L.L.C. and German American Capital Corporation) to bankruptcy
remote affiliates of Capital Automotive.  The four loans are cross-
collateralized and are effectively one pool.  Collateral for the loans
consists of first liens on fee simple mortgages on 78 commercial properties
owned by Capital Automotive and leased to 18 automotive dealership groups.
    The Class A certificates were sold to Triple-A One Funding Corporation, an
asset-backed commercial paper conduit administered by MBIA and carrying A1/P1
ratings.  This privately negotiated transaction was made without registration
under the Securities Act of 1933 (the Act) under circumstances reasonably
designed to preclude a distribution thereof in violation of the Act.  The
issuance has been designed to permit resale under Rule 144A.
    Thomas D. Eckert, president and CEO of Capital Automotive, stated, "We are
extremely pleased with the recent rating from Moody's.  This rating is not
only a reflection on the high-quality collateral in our portfolio, but also
the stringent underwriting that we perform on each of our transactions.  This
transaction furthers our strategy of developing multiple sources of capital to
fund our growth as well as reducing our financing costs.  The triple-A rating
on this collateral validates the strength and creditworthiness of our asset
class."
    Capital Automotive, headquartered in McLean, Virginia, is a self-
administered, self-managed real estate investment trust formed to acquire the
real property and improvements used by operators of multi-site,
multi-franchised automotive dealerships and related businesses.  Additional
information on Capital Automotive is available on the Company's web site at
http://www.capitalautomotive.com .
    To receive Capital Automotive's latest news and corporate developments via
fax at no cost, please call
1-800-PRO-INFO; use Company code CARS. Or visit The Financial Relations
Board's web site at http://www.frbinc.com .
    Certain matters discussed within this press release are forward-looking
statements within the meaning of the federal securities laws.  Although the
Company believes that the expectations reflected in the forward-looking
statements are based upon reasonable assumptions, the Company's future
operations will depend on a number of factors that may differ, some
materially, from the Company's assumptions.  These factors, which could cause

the Company's actual results to differ materially from those set forth in the
forward-looking statements, include risks that the Company's tenants will not
pay rent or that the Company's operating costs may be higher than expected,
risks of interest rate fluctuations impacting future acquisitions, risks that
new or pending acquisitions may not be consummated, environmental and other
risks associated with the acquisition and leasing of automotive properties and
those risks detailed from time to time in the Company's SEC reports, including
its annual report on Form 10-K and its quarterly reports on Form 10-Q.