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Letter to the Editor

AutoNation Named America's Most Admired Automotive Retailing & Services Company for Second Consecutive Year by Fortune Magazine

AutoNation's distinction is the result of an annual Fortune survey of 10,000 executives, directors, and securities analysts, which the magazine released yesterday. In the 2002 survey, respondents rated companies in their own industries on eight criteria: Social Responsibility, Innovation, Long-term Investment Value, Use of Corporate Assets, Employee Talent, Financial Soundness, Quality Products/Services and Quality of Management. As in the 2001 survey, last year's respondents rated AutoNation tops in the industry category of "Automotive Retailing and Services."

"Having our peers recognize us as America's most admired automotive retailer pays tribute to the way in which our associates across the country are driven to be the best," said Mike Jackson, AutoNation's Chairman and Chief Executive Officer. "Fortune's honor reflects the success we've achieved as America's best-run and most profitable automotive retailer."

AutoNation, Inc., headquartered in Fort Lauderdale, Fla., is America's largest retailer of both new and used vehicles. Ranked #101 on the 2002 Fortune 500 survey of America's largest corporations, AutoNation employs approximately 28,500 people and owns and operates 376 automotive retail franchises in 17 states.

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