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Penske Automotive Group Commences Tender Offer For 7.75% Senior Subordinated Notes Due 2016

Stocks in this article: PAG

This press release is neither an offer to purchase, a solicitation of an offer to sell the 2016 Notes or any other securities or a solicitation of Consents, and is neither an offer to sell nor a solicitation of an offer to purchase the Company’s new senior subordinated notes or any other securities. The Offer is made only by and pursuant to the terms of the Offer to Purchase and Consent Solicitation Statement and the related Letter of Transmittal and Consent. None of the Company, its management, its Board of Directors, the information agent, the Dealer Manager, the Depositary, the Trustee nor any other person makes any recommendation as to whether holders of the 2016 Notes should tender their 2016 Notes or deliver their Consents, and no one has been authorized to make such a recommendation. Holders of the 2016 Notes must make their own decisions as to whether to tender their 2016 Notes and deliver their Consents, and, if they decide to do so, the principal amount of 2016 Notes to tender.

Safe Harbor Statement

This press release contains forward-looking statements regarding the Company’s proposed refinancing. The forward-looking statements in this release are based on information available at the time the statements are made and/or management’s belief as of that time with respect to future events and involve risks and uncertainties that could cause actual results and outcomes to be materially different. These factors include the Company’s ability to consummate the Offer, as well as its proposed offering of new senior subordinated notes, which is subject to numerous uncertainties, including but not limited to successful negotiation of definitive documentation for the financing arrangement and satisfaction or waiver of all conditions to closing. The consummation of the transactions may also be impacted by the other risks and uncertainties detailed in the Company’s filings with the Securities and Exchange Commission. While the Company may elect to update forward-looking statements in the future, it specifically disclaims any obligation to do so, and therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today.

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