Acquisition

Pendragon PLC
24 February 2003

Acquisition of US Land Rover Dealerships

Pendragon PLC ('Pendragon'), the UK's largest car dealership group, today is
pleased to announce that it has acquired the business and assets of two Land
Rover dealerships in Southern California, USA.

The acquired businesses comprise Land Rover dealerships operating from leasehold
properties in Mission Viejo and Newport Beach, California.  The combined
unaudited operating profit of the businesses for the twelve month period to 31
December 2002 was $2.8 million on turnover of $62.6 million.  Net assets of the
acquired businesses are approximately $3.2 million.

The total consideration for the acquisition is $13.7 million of which $10.5
million represents goodwill.  The Mission Viejo business has been acquired from
Kensington Enterprises Inc and the Newport Beach business from Newport
Enterprises Inc.

The acquisition strengthens Pendragon's relationship with Land Rover worldwide
and will be immediately earnings enhancing.

Trevor Finn, Chief Executive of Pendragon commented:

'The expansion of Pendragon's business in the USA has proved very successful.
The new Land Rover dealerships, which are located in an extremely affluent
territory in Southern California will add to this success.  We will continue to
look for opportunities for further investment in the USA.'

Enquiries:

Trevor Finn, Chief Executive             Pendragon PLC             01623 725 000
David Forsyth, Finance Director

Charlotte Hepburne-Scott                 Finsbury Group            020 7251 3801
Gordon Simpson

Notes to Editors

Pendragon PLC first expanded into the USA in July 2000 with the acquisition of
Bauer Jaguar in California, the third largest Jaguar dealer in the USA.
Pendragon has since expanded further into this region and now operates four
sales points and two separate service centres representing six franchises - four
Jaguar, one Land Rover and one Aston Martin.  For the year ended 31 December
2002, Pendragon's US business reported a 16% increase in operating profits to
£5.1 million. In October 2002, Pendragon purchased a property in Irvine,
Southern California for a Lincoln Mercury franchise and some land in Mission
Viejo to be developed as a Jaguar dealership.  Together with today's
acquisition, this will bring the total number of dealerships Pendragon operates
in California to ten.


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