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Capital Automotive Declares Second Quarter Dividend of $0.3725

24 July 2000

10th Consecutive Quarterly Increase

    McLEAN, Va. - Capital Automotive the nation's leading specialty finance 
company for automotive retail real estate, today announced that its Board of 
Trustees declared a quarterly cash dividend of $0.3725 per share for the second 
quarter ending June 30, 2000.  The dividend is payable on August 18, 2000 to 
shareholders of record as of August 10, 2000.

    Thomas D. Eckert, President and Chief Executive Officer, stated,
"The second quarter dividend reflects the 10th consecutive increase in our
quarterly dividend and represents an annualized rate of $1.49 per share.  With
our substantially duration matched balance sheet and the outstanding
performance of our portfolio, the cash flows of our business remain very
stable."

    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.