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Steve Kalafer & Byron Brisby to Re-Acquire Two New Jersey Dealerships From AutoNation, Inc.

18 October 2000

Steve Kalafer & Byron Brisby to Re-Acquire Two New Jersey Dealerships From AutoNation, Inc.

    FLEMINGTON, N.J., Oct. 18 Steve Kalafer, Founder and
Chairman of Flemington (NJ) Car & Truck Country and Princeton (NJ) Nassau
Conover Family of Dealerships, and Byron Brisby, President and Chief Operating
Officer, announced they have signed a definitive purchase agreement to
re-acquire the two dealerships from AutoNation, Inc. .  Terms were
not disclosed.
    The dealerships operate 10 locations and 22 franchises and sell and
service Ford, Lincoln, Mercury, Nissan, Porsche, Volkswagen, Audi, BMW, GMC,
Buick, Chevrolet, Pontiac, Chrysler, Plymouth, Dodge, Dodge Truck, Jeep,
Mazda, Infiniti, Subaru, Isuzu and Land Rover.
    "I am very excited that our dealerships will become locally owned,
independent businesses again," said Mr. Kalafer.  "We believe this gives our
customers and employees a continuing bridge to our culture and heritage of the
past 25 years.  Returning to our roots will be especially rewarding."
    "The building blocks and success of Flemington Car & Truck Country have
always been customer and employee satisfaction," said Mr. Brisby.  "The
re-purchase of the dealerships by Steve and myself guarantees for the future
that this mission will be accomplished."
    "The success of Flemington Car & Truck Country and Princeton's Nassau
Conover Family of Dealerships has always been the result of our dedicated
associates and their commitment to our customers and our community," Mr.
Kalafer added.  "The most important assets that our Company has are our
customers and our employee associates.  They are the focus and the foundation
of our business.  This transaction reaffirms those priorities today and for
the future."
    The closing of the transaction is subject to customary conditions,
including appropriate regulatory and manufacturer approvals.

    Contact:  Steven Kalafer, Chairman, Flemington (NJ) Car & Truck Country
and Princeton (NJ) Nassau Conover Family of Dealerships, 908-782-3673.