---

Hometown Auto Retailers To Sell Dealership

19 December 2000

Hometown Auto Retailers To Sell Dealership

    WATERTOWN, Conn.--Dec. 18, 2000--Hometown Auto Retailers Monday announced it will sell its under-performing Morristown Lincoln Mercury dealership in Morristown, N.J. to an undisclosed buyer in the first quarter of 2001.
    In connection with the transaction, Hometown is closing the dealership immediately.
    "Part of Hometown's strategy for the year 2000 has been to find ways to cut costs to help the company return to profitability and look for opportunities to reduce our dependence on the Lincoln Mercury brand," said Corey Shaker, president and chief executive officer for Hometown.
    "The sale of Morristown moves us closer to these goals. Morristown Lincoln Mercury has been one of the under-performing dealerships I have referred to throughout the past year. We will now be able to begin 2001 much leaner and with increased focus on our performing dealerships and more value-added activities."
    As part of the sale, Hometown will lay-off 11 employees, who represent only two percent of Hometown's overall employee base.