Penske Automotive Group (NYSE: PAG), an international transportation services provider, announced today that it has expanded its presence in the United States with the acquisition of the Jaguar and Land Rover dealerships in Paramus, New Jersey from the Prestige Family of Fine Cars. The acquisition is expected to generate estimated annual revenue of approximately $215 million.

Commenting on the acquisition, Company President Robert H. Kurnick, Jr., said, "We are pleased with the opportunity to add the Jaguar and Land Rover dealerships in Paramus to the Penske Automotive footprint. These new dealerships enhance the company's existing portfolio and bring additional scale in the New Jersey/New York metropolitan area to our business. We welcome the employees to the Penske Automotive Group team and look forward to working with them to grow the Jaguar and Land Rover businesses in this important market area."

About Penske Automotive

Penske Automotive Group, Inc., (NYSE:PAG) headquartered in Bloomfield Hills, Michigan, is an international transportation services company that operates automotive and commercial truck dealerships principally in the United States, Western Europe and Canada, and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand. PAG employs more than 24,000 people worldwide and is a member of the Fortune 500 and Russell 2000. For additional information, visit the company's website at www.penskeautomotive.com.