Chatfield Dean & Co., Inc. Reiterates its STRONG BUY Rating on Republic Industries, Inc.

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Oct. 8, 1998-- Chatfield Dean & Co., Inc. today reiterated its STRONG BUY rating on Republic Industries, Inc. (NYSE:RII).

"Republic Industries is still on track to meet our earnings estimates for 1998 and 1999. An economic downturn in the U.S. will soften new car sales, but will increase higher margin used car sales, resulting in no change in expected net income growth for existing dealerships. In addition, the Company's acquisition strategy is expected to benefit from the recent downturn in the financial markets, because Republic can now acquire companies at more favorable prices. Republic Industries shares are a tremendous value at current prices, especially with the expected distribution of Republic Services, Inc. shares (NYSE:RSG) to RII shareholders in early 1999. Republic Services is a strong recession-resistant business; people will always need their garbage collected."

Please visit our web site at www.chatfield.com for a copy of our research report.

o        Current Price: $10.31
o        Rating:  STRONG BUY
o        Risk Rating:  Growth
o        3Q'98 Earnings Estimates:  $0.37
o        1998 Earnings Estimates:  $1.09
o        1999 Earnings Estimates:  $1.54
o        18-Month Price Target (w/o RSG):  $42.00
o        12-18 Month Combined Total Value:  $46.00