Acquisition

Pendragon PLC
18 April 2001

                                                                 18 April 2001

                                Pendragon PLC

            Acquisition of Jaguar and Land Rover Dealership in US

Pendragon PLC ('Pendragon'), the UK's largest car dealership group, today
announces the acquisition of Hornburg, the prestigious Jaguar and Land Rover
dealership in Los Angeles, USA. This transaction is Pendragon's second
acquisition of a US Jaguar franchise within a year and represents the addition
of Land Rover to its US portfolio. The cash consideration is £9.01 million,
and the value of the net assets acquired is £4.5million.

A family owned business occupying high profile locations in Beverley Hills and
Santa Monica, California, the Hornburg dealership is the fourth largest Jaguar
dealer in the US and operates both Land Rover and Jaguar franchises from its
four leasehold sites. In the financial year to 31 December 2000, the business
made operating profits of £1.43 million ($2.1 million) on a turnover of £65.6
million ($94.0 million). Net assets were £4.9 million ($7.1 million). In 2001
the business will benefit from the introduction of the Land Rover Freelander
to the US and the Jaguar X400 model due for launch in August 2001.

This acquisition further strengthens Pendragon's worldwide operating
relationship with Jaguar, coming just nine months after Pendragon's
acquisition of Bauer Jaguar, the third largest Jaguar dealer in the US,
announced in July 2000. Pendragon is already Jaguar's largest partner in the
UK and Germany.

Trevor Finn, chief executive of Pendragon, commented:

'Today's acquisition is another example of where Pendragon has used the
capital raised through the disposal of underperforming and non-core businesses
to diversify the portfolio overseas. It represents a further opportunity to
pursue our strategy of 'bigger with fewer' by strengthening our ties with
Jaguar on a global scale, while increasing our exposure to the lucrative US
market.'



Enquiries:

Trevor Finn, Chief Executive            Pendragon PLC       01623 725 000

David Forsyth Finance Director

Rupert Younger                          Finsbury            020 7251 3801

Gordon Simpson