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|UnitedAuto Announces Executive Appointment - Anthony R. Pordon Named Vice President - Investor Relations|
|DETROIT, MI, June 11, 2001 - UnitedAuto Group, Inc. (NYSE: UAG), a leading publicly traded automobile retailer and member of the FORTUNE 500, today announced a new executive appointment.
Anthony R. "Tony" Pordon has joined UnitedAuto as Vice President - Investor Relations. Mr. Pordon will report to Chairman Roger S. Penske and President Sam DiFeo.
The new Investor Relations position is designed to support the Company's strategic goal of continuing to build shareholder value by increasing visibility within and communications with the investment community.
In commenting on the appointment, Roger Penske stated, "We are extremely pleased that Tony Pordon has agreed to join UnitedAuto and help us expand the services we provide to the investor community. As we continue to execute on our strategies to enhance shareholder value, Tony will provide this important constituency with a unique level of professional guidance and support. Tony will also be responsible for monitoring the Company's compliance activities with regard to SEC Fair Disclosure regulations.
Prior to joining UnitedAuto, Mr. Pordon held positions at Detroit Diesel Corporation in Detroit, which included Manager - Financial Reporting, Manager - Financial Reporting and Accounting, and most recently Controller since 1998. Before joining Detroit Diesel Corporation Pordon worked for Touche Ross (later named Deloitte & Touche) where he was an auditor serving clients in the manufacturing, banking and investment industries. Pordon attended Central Michigan University where he earned his Bachelor of Science in Business Administration degree with a major in the field of accounting. Mr. Pordon is also a Certified Public Accountant in the State of Michigan.
UnitedAuto, which has pursued a strategy based on internal growth from its existing dealerships, as well as from strategic acquisitions, operates 123 franchises in 19 states, Puerto Rico and Brazil. UnitedAuto dealerships sell new and used vehicles, and market a complete line of after-market automotive products and services.
Statements in this press release may include forward-looking statements. These forward-looking statements should be evaluated together with additional information about UnitedAuto's business, markets, conditions and other uncertainties which are contained in UnitedAuto's filings with the Securities and Exchange Commission and which are incorporated into this press release by reference.