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#1 Cochran Relocation & Expansion Project Gets Approved

May 31, 2002

#1 Cochran, one of the nation's auto dealers, announced May 31 that it has received financing and final environmental approval for a multi-million dollar construction project that will relocate and expand its operations in Monroeville.

#1 Cochran says it will remain in Monroeville but move to multiple sites east of the Pennsylvania Turnpike on both sides of Route 22, less than a mile from its current location. Its existing showrooms and service facilities in Monroeville, adjacent to the Miracle Mile Shopping Center, will continue serving customers until the new locations open in Fall 2003. #1 Cochran has completed an agreement to lease its current site in Monroeville to Lowe's, the home-improvement store chain, after #1 Cochran moves to its new locations.

"This exciting project accelerates #1 Cochran's growth and enhances our ability to serve and satisfy customers with new auto showrooms and state-of- the-art service facilities," said Rob Cochran, president of #1 Cochran. "With final approvals and financing in place, #1 Cochran has a green light to move forward on an expansion project that benefits our customers, our team members and the municipality of Monroeville."

Acording to #1 Cochran, they have received a permit from the Pennsylvania Department of Environmental Protection and financing from M&T Bank. Terms of the project financing were not disclosed. The company previously received all necessary approvals from the municipality of Monroeville.

The new locations will enable #1 Cochran to offer six new showrooms for top brands including Pontiac, GMC, Cadillac, Oldsmobile, Saturn, Hyundai, Hummer, Infiniti and 1st Choice used vehicles.

#1 Cochran also announced that it would donate five acres of its new property to the municipality of Monroeville for preservation as green space.

"Monroeville is an ideal location for our new facilities," Cochran concluded. "Our current facilities will remain open until the project is completed and customers can expect #1 Cochran to deliver a high level of customer service during this transition period."

#1 Cochran is an auto dealership chain in the United States and claims to offer the largest selection of vehicles in the Tri-State area. The company has nearly 400 team members at its facilities in Monroeville and Robinson Township, Pa. For more information on #1 Cochran, visit the Web site at www.1cochran.com.

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