Capital Automotive Declares First Quarter 2001 Dividend of $0.3860 - 13th Consecutive Quarterly Increase

Apr 17, 2001, 01:00 ET from Capital Automotive REIT

    MCLEAN, Va., April 17 /PRNewswire/ -- Capital Automotive REIT
 (Nasdaq:   CARS), the nation's leading specialty finance company for automotive
 retail real estate, today announced that its Board of Trustees has declared a
 quarterly cash dividend of $0.3860 per share for the first quarter ending
 March 31, 2001.  The dividend is payable on May 18, 2001 to shareholders of
 record as of May 10, 2001.
     Thomas D. Eckert, President and Chief Executive Officer, stated, "The
 first quarter dividend reflects the 13th consecutive increase in our quarterly
 dividend and represents an annualized rate of $1.544 per share and a 9.9%
 yield based on Monday's closing stock price.  Because of the Company's strong
 tenant base and conservative capital structure, our real estate portfolio
 continues to produce very stable and predictable cash flows.  For 2001, we
 expect to pay an annual dividend of $1.55 per share, an increase of nearly
 3.5% from the prior year's annual dividend of $1.50 per share.  We continue to
 be committed to providing solid returns as well as stable and consistent
 dividend growth to our shareholders."
     Capital Automotive offers a Dividend Reinvestment and Share Purchase Plan
 to all shareholders.  The Plan provides an economical and convenient way for
 current shareholders and other interested new investors to invest in Capital
 Automotive.  Inquires regarding the Plan should be directed to American Stock
 Transfer and Trust Company, the Plan administrator, at (800) 278-4353.
     Capital Automotive, headquartered in McLean, Virginia, is a
 self-administered, self-managed real estate investment trust formed to acquire
 the real property and improvements used by operators of multi-site,
 multi-franchised automotive dealerships and related businesses.  Additional
 information on Capital Automotive is available on the Company's website at
 www.capitalautomotive.com .
     To receive Capital Automotive's latest news and corporate developments via
 fax at no cost, please call 1-800-PRO-INFO; use Company code CARS or visit The
 Financial Relations Board's website at http://www.frbinc.com .
 
     Certain matters discussed within this press release are forward-looking
 statements within the meaning of the federal securities laws.  Although the
 Company believes that the expectations reflected in the forward-looking
 statements are based upon reasonable assumptions, the Company's future
 operations will depend on a number of factors that may differ, some
 materially, from the Company's assumptions.  These factors, which could cause
 the Company's actual results to differ materially from those set forth in the
 forward-looking statements, include risks that our growth will be limited if
 we cannot obtain additional capital; risks of financing, such as the ability
 to meet existing financial covenants and our ability to consummate additional
 financings on terms which are acceptable to us; risks that the Company's
 tenants will not pay rent or that the Company's operating costs will be higher
 than expected; risks that additional acquisitions may not be consummated;
 risks related to the automotive industry, such as the ability of our tenants
 to compete effectively in the automotive retail industry and the ability of
 our tenants to perform their lease obligations as a result of changes in
 manufacturer's production, inventory, marketing or other practices;
 environmental and other risks associated with the acquisition and leasing of
 automotive properties; risks related to the Company's status as a REIT for
 federal income tax purposes, such as the existence of complex regulations
 relating to the Company's status as a REIT, the effect of future changes in
 REIT requirements as a result of new legislation and the adverse consequences
 of the failure to qualify as a REIT; and those risks detailed from time to
 time in the Company's SEC reports, including its annual report on Form 10-K
 and its quarterly reports on Form 10-Q.  The Company makes no promise to
 update any of the forward-looking statements, or to publicly release the
 results if the Company revises any of them.
 
 

SOURCE Capital Automotive REIT
    MCLEAN, Va., April 17 /PRNewswire/ -- Capital Automotive REIT
 (Nasdaq:   CARS), the nation's leading specialty finance company for automotive
 retail real estate, today announced that its Board of Trustees has declared a
 quarterly cash dividend of $0.3860 per share for the first quarter ending
 March 31, 2001.  The dividend is payable on May 18, 2001 to shareholders of
 record as of May 10, 2001.
     Thomas D. Eckert, President and Chief Executive Officer, stated, "The
 first quarter dividend reflects the 13th consecutive increase in our quarterly
 dividend and represents an annualized rate of $1.544 per share and a 9.9%
 yield based on Monday's closing stock price.  Because of the Company's strong
 tenant base and conservative capital structure, our real estate portfolio
 continues to produce very stable and predictable cash flows.  For 2001, we
 expect to pay an annual dividend of $1.55 per share, an increase of nearly
 3.5% from the prior year's annual dividend of $1.50 per share.  We continue to
 be committed to providing solid returns as well as stable and consistent
 dividend growth to our shareholders."
     Capital Automotive offers a Dividend Reinvestment and Share Purchase Plan
 to all shareholders.  The Plan provides an economical and convenient way for
 current shareholders and other interested new investors to invest in Capital
 Automotive.  Inquires regarding the Plan should be directed to American Stock
 Transfer and Trust Company, the Plan administrator, at (800) 278-4353.
     Capital Automotive, headquartered in McLean, Virginia, is a
 self-administered, self-managed real estate investment trust formed to acquire
 the real property and improvements used by operators of multi-site,
 multi-franchised automotive dealerships and related businesses.  Additional
 information on Capital Automotive is available on the Company's website at
 www.capitalautomotive.com .
     To receive Capital Automotive's latest news and corporate developments via
 fax at no cost, please call 1-800-PRO-INFO; use Company code CARS or visit The
 Financial Relations Board's website at http://www.frbinc.com .
 
     Certain matters discussed within this press release are forward-looking
 statements within the meaning of the federal securities laws.  Although the
 Company believes that the expectations reflected in the forward-looking
 statements are based upon reasonable assumptions, the Company's future
 operations will depend on a number of factors that may differ, some
 materially, from the Company's assumptions.  These factors, which could cause
 the Company's actual results to differ materially from those set forth in the
 forward-looking statements, include risks that our growth will be limited if
 we cannot obtain additional capital; risks of financing, such as the ability
 to meet existing financial covenants and our ability to consummate additional
 financings on terms which are acceptable to us; risks that the Company's
 tenants will not pay rent or that the Company's operating costs will be higher
 than expected; risks that additional acquisitions may not be consummated;
 risks related to the automotive industry, such as the ability of our tenants
 to compete effectively in the automotive retail industry and the ability of
 our tenants to perform their lease obligations as a result of changes in
 manufacturer's production, inventory, marketing or other practices;
 environmental and other risks associated with the acquisition and leasing of
 automotive properties; risks related to the Company's status as a REIT for
 federal income tax purposes, such as the existence of complex regulations
 relating to the Company's status as a REIT, the effect of future changes in
 REIT requirements as a result of new legislation and the adverse consequences
 of the failure to qualify as a REIT; and those risks detailed from time to
 time in the Company's SEC reports, including its annual report on Form 10-K
 and its quarterly reports on Form 10-Q.  The Company makes no promise to
 update any of the forward-looking statements, or to publicly release the
 results if the Company revises any of them.
 
 SOURCE  Capital Automotive REIT