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Letter to the Editor

CARSTAR Names Hansen Chief Executive Officer

OVERLAND PARK, KS -- CARSTAR, North America’s largest collision repair network, has announced the promotion of George Hansen to Chief Executive Officer. Hansen, who joined CARSTAR in 1999 and previously served as President, assumes the CEO role from Hank Frigon, who will continue as CARSTAR’s Chairman of the Board and a significant investor in the company.

"CARSTAR has achieved substantial gains over the past two years," said Frigon. "During the same period, we’ve enhanced our industry leadership position, and the company is poised for accelerated growth and development. Today, CARSTAR has an extraordinary management team, and George, in his new role, will use his keen abilities and strategic leadership to ensure our continued progress."

Hansen’s promotion is part of the company’s succession plan for executive leadership. As CEO, Hansen will provide leadership as the company continues to pursue its aggressive strategic objectives for growth and expansion.

During the past two years, Frigon and Hansen have worked closely to build CARSTAR to its leadership position in the collision repair industry. The CARSTAR network currently includes 15 company-owned locations and 260 franchise locations. In 2000,CARSTAR achieved sales growth of nearly 20 percent, with total annual revenues representing substantially more than $300 million dollars.

"Leading a winning team is a terrific pleasure and a rewarding challenge," said Hansen. "Since I joined the company in 1999, I’ve enjoyed working with the executive team and our company and franchise locations to position CARSTAR as the thought leader for the collision repair industry. I look forward to providing continued strategic leadership for the CARSTAR family as we maintain our momentum to grow in size, stature and profitability."

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