Nigel Paget Named Managing Director of Copart UK

Copart, Inc. (NASDAQ:CPRT) today announced that Nigel Paget, an executive from the automotive and insurance industries, has been named the company’s new Managing Director in the UK. Paget will be responsible for overseeing operations at all of Copart’s 15 UK facilities, as well as guiding future growth in Europe. He begins his duties today and will work out of Copart UK’s Head office in Wootton, Bedfordshire. Paget’s professional career has included senior leadership positions at RAC (formerly Royal Automobile Club), a world leader in the roadside assistance business; and at Norwich Union (an Aviva Company), a leading UK insurance company. "Paget brings a commitment to legendary customer service – which is at the heart of Copart’s culture,” said Copart President Jay Adair. "He also has a great deal of experience in the insurance industry and in running large operations. We are proud to have him at Copart as we continue to expand our global footprint.” Copart, founded in 1982, provides vehicle suppliers, primarily insurance companies, with a full range of remarketing services to process and sell salvage vehicles, principally to licensed dismantlers, rebuilders and used vehicle dealers, through Internet sales utilizing its proprietary VB2 technology. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made. The Company currently operates 145 facilities in the United States, Canada and the United Kingdom. Cautionary Note About Forward-Looking Statements This press release contains forward-looking statements within the meaning of federal securities laws, and these forward-looking statements are subject to substantial risks and uncertainties. Our business has become increasingly reliant on proprietary and non-proprietary technologies, and it is difficult to forecast with accuracy what impact these changes in our business model will have. We depend on a limited number of major suppliers of salvage vehicles. If we are unable to maintain these supply relationships, our revenues and operating results would be adversely affected. We have only recently entered the UK market through several acquisitions. We do not have any historic experience operating outside of North America, and we may experience challenges adapting our business model to international markets and integrating the acquired businesses. In addition, our revenues, operating results, financial condition, and growth rates are subject to numerous other risks, including our ability to complete and integrate new acquisitions, environmental and regulatory risks, and the other factors described under the caption "Risk Factors" in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We encourage investors to review these disclosures carefully.