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Copart Acquires Third Facility in Louisiana

BENICIA, Calif. -- Copart, Inc. has announced that it has acquired the assets of Twin City Salvage Pool, Inc. of Shreveport, Louisiana. The 30-acre facility was acquired for Copart stock and is Copart's 80th location in the US and the third facility in Louisiana.

"We are very pleased that the Twin City facility is joining Copart," said Willis J. Johnson, Copart's Chief Executive Officer. "They operate along the busy Interstate 20 corridor and serve the entire width of Louisiana from Texas to the Mississippi borders."

Since March 2000, Copart has added 10 locations including sites in Boise, ID; Pasco, WA; West Palm Beach, FL; Abilene, TX; San Antonio, TX; Albuquerque, NM; Harrisburg, PA; Chatham, VA; Chicago Heights, IL and Shreveport, LA.

Founded in 1982, Copart provides vehicle suppliers -- primarily insurance companies -- with a full menu of services to process and sell salvage vehicles through auctions, principally to licensed dismantlers, rebuilders and used vehicle dealers. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes, or recovered stolen vehicles for which an insurance settlement with the vehicle's owner has been made. Operating 80 facilities in 36 states, Copart also provides services to other geographic areas through its national network of independent salvage vehicle suppliers.

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