|UnitedAuto Expands Operations in its Cleveland, Ohio Hub Market; Acquires Nissan Dealership in North Olmsted|
|DETROIT, MI, September 25, 2001 - UnitedAuto Group, Inc. (NYSE: UAG), a FORTUNE 500 automotive specialty retailer, announced today that it has acquired a Nissan franchise in North Olmsted, Ohio, a suburb of Cleveland. The dealership, formerly known as North Olmsted Nissan, was purchased from Bud Matthews and will be renamed Nissan of North Olmsted. This acquisition, which will become part of UnitedAuto's Mid-Atlantic Region, joins existing Cleveland hub operations including dealerships for Honda, Infiniti, Mercedes-Benz, and Toyota.
Mid-Atlantic Regional President, Roger S. Penske, Jr., stated, "The addition of this Nissan franchise to our portfolio in the Cleveland area furthers our goal to leverage existing resources in this important hub market."
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.