Market Overview

Penske Automotive Group Completes Redemption of 7.75% Senior Subordinated Notes Due 2016

Penske Automotive Group, Inc. (NYSE: PAG), an international automotive retailer, today announced that it has completed the redemption of its outstanding 7.75% Senior Subordinated Notes due 2016 (the “2016 Notes”). Approximately $57.3 million in aggregate principal amount of the 2016 Notes had remained outstanding and were redeemed at a price of 103.875%, plus accrued and unpaid interest to, but excluding, September 27, 2012.

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