Sonic Automotive, Inc. announced June 12 that it has received a commitment from Ford Motor

Credit Co., Chrysler Financial Co., LLC and Toyota Motor Credit Corp. for a new agreement for acquisition and working capital financing

with total availability of $600 million.

The availability of $600 million will represent an increase of $100 million from the company's existing agreement. Toyota Credit is now joining Ford Credit, the facility's lead

agent, and Chrysler Financial to provide this financing. This new credit facility is expected to be consummated later this month.

The new facility will provide additional capital to support Sonic's acquisition growth strategy. "Sonic has demonstrated the ability

to access the capital markets to support its growth strategy and this is the sixth time in four years Sonic has increased availability under its acquisition line," said B. Scott Smith, Sonic's president and chief operating officer. The manufacturers' captive finance arms represent a unique pool of capital available to auto retailers that has provided capital even during periods of market disruption, according to Smith.

"Ford Credit, Chrysler Financial and Toyota Credit truly understand the auto retailing business model and continue to provide financial support for our growth strategy," Smith said. "We're pleased to add Toyota, one of the strongest companies in the world, to our financing group and look forward to the same

type of relationship that has lasted for more than 30 years with Ford Credit. This financing will enable Sonic to aggressively pursue some of the many attractively priced acquisition opportunities in the market today."

"Our partnership with the manufacturers' captives isn't just financing for the company," said Jeffrey C. Rachor, Sonic's executive vice president of retail operations. "Their support is critical in providing high quality, competitively priced financing for consumers. Ford Credit, for example, enables us to assist nearly 2,500 customers buy cars each month."

"Ford is proud to continue to lead this groundbreaking credit facility," said Greg Smith, president of Ford Credit North America. "We will continue to partner with our dealers to provide solutions to their financing needs and the financing needs of our shared customers."

About Sonic Automotive, Inc.

Sonic Automotive, Inc., a Fortune 300 Company and member of the Russell 2000 Index, is the second largest automotive retailer in the United States, operating 165 franchises and 30 collision repair centers.

Sonic can be reached at www.sonicautomotive.com.

About Ford Motor Credit Company

Ford Credit, a wholly-owned subsidiary of Ford Motor Co., is the world's largest automotive finance company.

Now in its 42nd year, Ford Credit provides vehicle financing in 40 countries to more than 10 million customers and more than 12,000 automotive dealers. Ford Credit had total earnings of $1.5 billion in 2000, with a worldwide receivables base of more than $160 billion.

More information about Ford Credit can be found www.fordcredit.com.