Asbury Automotive Group To Close One Chrysler and Two GM Dealerships

DULUTH, Ga., May 15, 2009 -- Asbury Automotive Group, Inc. , one of the largest automotive retail and service companies in the U.S., today announced that its Nalley Chrysler/Jeep dealership in Roswell, Georgia is on Chrysler LLC's list of stores that it intends to reject as part of its dealer consolidation plan. In addition, General Motors has notified the Company that it will not renew the franchise agreements for two Asbury dealerships in Kissimmee, Florida - a Chevrolet franchise and a combined Pontiac/Buick/GMC store - when they expire in November 2010.

The three dealerships generated revenues of approximately $105 million in 2008, or about 2% of Asbury's total revenues of $4.6 billion.

"We are disappointed that the Nalley dealership will be closing and the Kissimmee stores will be phased out, and our hearts go out to the affected employees," said Charles R. Oglesby, Asbury's President and CEO. "At the same time, we understand that consolidation of their dealer networks is a critical component of Chrysler and GM's restructuring programs, and that it's important for all parties to bear some part of the burden. We will do whatever we can to support the manufacturers through this difficult period."

Mr. Oglesby continued, "Overall, the closing of these dealerships will not have a material impact on Asbury's ongoing revenues, earnings or financial position. With approximately 86% of our new light vehicle revenue generated by mid-line import and luxury brands, we continue to believe that Asbury is well-positioned for future growth."