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Copart Opens in West Palm Beach, Florida

18 April 2000

Copart Opens in West Palm Beach, Florida

    BENICIA, Calif.--April 18, 2000--Copart, Inc. (Nasdaq:CPRT) today announced that it has opened a green-field location to serve West Palm Beach, Florida and the surrounding area. The West Palm location is approximately 15 acres and is Copart's fifth facility in the state of Florida. The company now operates 73 locations in 35 states.
    "We have added a fifth location in Florida to meet the needs of our suppliers and buyers," said Willis J. Johnson, Copart's Chief Executive Officer. "We have made important gains in this market thanks to the products and services that are only available at Copart. Normally, it takes over 12 months for a green field location to reach capacity. However, in West Palm, we expect to be at or near capacity within the next 90 days."
    Since June of 1999, Copart has acquired or opened eleven new locations. The new facilities include start-up sites in West Palm Beach, Fl; Denver, CO, and Graham, WA. Acquisitions include McAllen, TX; Huntsville, AL; Chesapeake, VA; Wichita, KS; Peoria, IL; North Boston, MA; Boise, ID; and Pasco, WA.
    Founded in 1982, Copart provides vehicle suppliers -- primarily insurance companies -- with a full menu of services to process and sell salvage vehicles through auctions, principally to licensed dismantlers, rebuilders and used vehicle dealers. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes, or recovered stolen vehicles for which an insurance settlement with the vehicle's owner has been made. Operating 73 facilities in 35 states, Copart also provides services to other geographic areas through its national network of independent salvage vehicle suppliers.

    NOTE: Certain statements in this release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors and/or factors affecting future results detailed in the company's Securities and Exchange Commission reports, including variations in the company's operating results, the inability to continue to increase service fees, slowdowns in the timing or reduced size of future acquisitions and facility openings, the loss of vehicle suppliers or buyers, the announcement of new vehicle supply agreements by the company or its competitors, changes in regulations governing the company's operations or its vehicle suppliers, environmental problems or litigation.