BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--June 29, 2007--United
Auto Group, Inc. (NYSE:UAG), an international automotive retailer,
announced that the Company will officially change its corporate name
from United Auto Group, Inc. to Penske Automotive Group, Inc. upon the
open of business on Monday, July 2, 2007. On the same day, the
Company's ticker symbol on the New York Stock Exchange will change to
"PAG" to reflect the change in name.
Voting and all other rights relating to the Company's common stock
will not be affected by the name change. Further, the name change has
no impact on the validity or transferability of currently outstanding
stock certificates. Stockholders are not required to surrender
existing certificates as a result of the change in name.
United Auto Group, Inc., headquartered in Bloomfield Hills,
Michigan, operates 311 retail automotive franchises, representing 41
different brands, and 26 collision repair centers. UnitedAuto, which
sells new and previously owned vehicles, finance and insurance
products and replacement parts, and offers maintenance and repair
services on all brands it represents, has 164 franchises in 19 states
and Puerto Rico and 147 franchises located outside the United States,
primarily in the United Kingdom. UnitedAuto is a member of the Fortune
500 and Russell 1000 and has 16,000 employees.
CONTACT: United Auto Group, Inc.
Bob O'Shaughnessy, 248-648-2800
Chief Financial Officer
Tony Pordon, 248-648-2540
Senior Vice President