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Sonic Automotive Announces Agreements to Acquire Five Dealerships

26 September 2000

Sonic Automotive Announces Agreements to Acquire Five Dealerships Representing Over $450 Million in Revenue

    CHARLOTTE, N.C., Sept. 25 Sonic Automotive, Inc.
announced today that it has entered into definitive agreements to
acquire the following five dealerships:  Philpott Ford and Philpott Toyota in
Beaumont, Texas; Garry McKinney Toyota in Ft. Worth, Texas; Baillargeon Ford
in Dallas, Texas; and Nils Sefeldt Volvo of Dallas in Dallas, Texas.  These
dealerships generated approximately $458 million in revenue during 1999.
    Upon closing these transactions, Sonic will have approximately
$496 million in 1999 revenues in the Dallas/Ft. Worth hub and approximately
$663 million in 1999 revenues in the South Texas/Houston area.  These
acquisitions are subject to customary closing conditions, including
manufacturers' approval, and are expected to close in the fourth quarter of
2000 or first quarter of 2001.
    O. Bruton Smith, the Company's Chairman and Chief Executive Officer
stated, "We are extremely pleased to announce these acquisitions, which
further demonstrates Sonic's ability to execute our disciplined 'hub-and-
spoke' acquisition strategy.  These dealerships all represent outstanding
brands and these additions will allow us to continue to create great
opportunities for our company and our employees.  Sonic remains committed to
growth through execution of a disciplined acquisition strategy."
    With the addition of these five dealerships, the Company will have
acquired fourteen dealerships in 2000 totaling approximately $1.1 billion in
annual revenues.