Sonic Automotive, Inc. Added to Russell 2000 Index
5 July 2000
Sonic Automotive, Inc. Added to Russell 2000 IndexCHARLOTTE, N.C. - Sonic Automotive, Inc. announced today that it was recently added to the Russell 2000 Index. The largest company in the index has an approximate market capitalization of $1.4 billion. In the last month, Sonic has been added to both the Russell 2000 Index and the Russell 3000 index. Also, it was announced earlier this year that the Company was added to this year's Fortune 500 listing of America's biggest companies as measured by total revenues. B. Scott Smith, President and Chief Operating Officer of Sonic Automotive, Inc., was quoted as saying, "We're pleased for both our employees and shareholders to be recognized in this index with such a great group of companies. Now that we're a Fortune 500 company, we hope that we will receive more of these honors." About Sonic Automotive, Inc. Sonic Automotive, Inc. is the second largest automotive retailer in the United States. Including pending acquisitions, the Company operates 169 franchises and 31 collision repair centers in Alabama, California, Florida, Georgia, Maryland, Nevada, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. Sonic had revenues of $3.4 billion in 1999, an increase of 109% over 1998. The revenue run rate is estimated at over $6 billion for 2000. The Company has also experienced ten consecutive quarters of greater than 50% growth in earnings per share. Included herein are forward-looking statements, including statements with respect to anticipated revenue growth. There are many factors which affect management's views about future events and trends of the Company's business. These factors involve risk and uncertainties that could cause actual results or trends to differ materially from management's view, including without limitation economic conditions, risks associated with acquisitions and the risk factors set forth from time to time in the Company's recent filings with the Securities and Exchange Commission.