For the first nine months of 2008, net income was $27.4 million, or $0.85 per diluted share, compared with $40 million, or $1.19 per diluted share, in the same period of 2007. Total revenues were $3.82 billion, compared to $4.35 billion in the same period of 2007.

Charles Oglesby, president and CEO, said: "The headwinds facing Asbury and the auto retailing industry intensified during the third quarter, as consumer confidence sagged under the weight of further declines in the housing and equity markets. In addition, due to the unprecedented turmoil in the credit markets, many lenders - both captives and independents - significantly tightened their standards for automotive financing."

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About David McDavid Automotive

David McDavid Automotive is a subsidiary of Asbury Automotive Group, Inc. ("Asbury"), one of the largest automobile retailers. Asbury currently operates 89 retail auto stores, encompassing 121 franchises for the sale and servicing of 36 different brands of American, European and Asian automobiles. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts.

If you would like more information about this topic, or to schedule an interview with Tom McCollum, please call Traci Hargis at (214) 403-7512.

    Contact:
    Traci Hargis
    David McDavid Automotive
    Tel: (214) 403-7512
    Email: thargis@mcdavid.com
    Web: http://www.mcdavid.com

This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com.

SOURCE David McDavid Automotive

http://www.mcdavid.com

    --  A $75 million used vehicle borrowing facility.  Led by JPMorgan Chase
        Bank, the facility has a four year tenor.  Bank of America, N.A. is also
        participating.
    --  A $29 million new vehicle wholesale floor plan line funded solely by
        Bank of America, N.A.

"These transactions represent the final components of our overall financing strategy," said Charles R. Oglesby, President and CEO. "Together with the $200 million revolver and $600 million new vehicle floor plan facilities announced last month, they provide expanded liquidity and flexibility to help Asbury weather this difficult environment and position us to take advantage of growth opportunities as the economy improves. We are also pleased to further broaden our relationships with Bank of America and JPMorgan Chase, both of which have demonstrated their stability and leadership during these turbulent times."

About Asbury Automotive Group

Asbury Automotive Group, Inc. ("Asbury"), headquartered in New York City, is one of the largest automobile retailers in the U.S. Built through a combination of organic growth and a series of strategic acquisitions, Asbury currently operates 89 retail auto stores, encompassing 122 franchises for the sale and servicing of 36 different brands of American, European and Asian automobiles. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts.

Forward-Looking Statements

This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. The forward-looking statements include statements relating to our goals, plans, expectations, and strategies. These statements are based on management's current expectations and involve significant risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, the ability of Asbury's debt facilities to provide Asbury with sufficient liquidity, Asbury's ability to meet its debt obligations, and Asbury's ability to execute its long-term growth strategies. These and other risk factors are discussed in Asbury's annual report on Form 10-K and in its other filings with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Asbury Automotive Group, Inc.

http://www.asburyauto.com

- Deloach Thomas C Jr, Director: reported buying $89.20K

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About Asbury Automotive Group Inc

Asbury Automotive Group, Inc. operates as an automotive retailer in the United States. It offers various automotive products and services, including new and used vehicles and related financing, vehicle maintenance and repair services, replacement parts, and warranty, insurance, and extended service contracts. The company?s new vehicle sales comprise the sale of new vehicles to individual retail customers and commercial customers. Its used vehicle sales include the sale of used vehicles to individual retail customers and other dealers at auction. It arranges for the financing of the sale or lease of new and used vehicles to customers through third party vendors. As of December 31, 2007, the company operated 124 franchises at 93 dealership locations and 24 collision repair centers. Asbury Automotive Group was founded in 1995 and is headquartered in New York, New York.

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