Crown Group's Board of Directors Authorizes Repurchase of Additional One Million Shares of Common Stock.

DALLAS--(BUSINESS WIRE)--Aug. 4, 1999--

Crown Group, Inc. (Nasdaq:CNGR) today announced that its Board of Directors has authorized the repurchase of up to 1,000,000 additional shares of the Company's common stock in open market or in private transactions.

The Company has already repurchased over 2.8 million shares of its common stock in previous buyback programs, beginning in March 1996. The latest Board authorization allows for the repurchase of an additional 1,000,000 of the common shares currently outstanding. Share repurchases will be made at price levels and in amounts that management considers to be in the best interests of shareholders.

"Our stock is trading at a level which is below book value and, in the opinion of Crown's management and Board of Directors, the current price of the Company's common stock does not adequately reflect underlying asset values or prospects for future revenue and earnings growth," commented Edward R. McMurphy, President and Chief Executive Officer of Crown Group, Inc. "We believe that the repurchase of our common stock from time to time in the open market or in private transactions is in the best interests of our shareholders."

Crown Group, Inc. seeks to enhance shareholder value through the acquisition, development and operation of small-cap companies with significant growth potential. Crown Group currently owns (i) 100% of America's Car-Mart, Inc. and 85% of PAACO Automotive Group, Inc., vertically integrated used car sales and finance companies; (ii) 100% of Precision IBC, a firm specializing in the sale and rental of intermediate bulk containers; (iii) 80% of Concorde Acceptance Corporation, a sub-prime mortgage lender; (iv) 49% of Casino Magic Neuquen, a casino operator in the Province of Neuquen, Argentina; (v) 50.1% of CGI S.A. de C.V., which operates two casinos in El Salvador; (vi) 80% of Home Stay Lodges, a partnership which is involved in the development and operation of extended-stay lodging facilities; and (vii) 50% of Atlantic Castings, Inc, an investment castings manufacturer of turbine engine components.

Crown Group, Inc. is headquartered in Dallas and its common stock is traded on the Nasdaq National Market under the symbol "CNGR".

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect", or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those relating to the development of the Company's businesses, continued availability of lines of credit for the Company's businesses, changes in interest rates, changes in the industries in which the Company operates, competition, dependence on existing management, the stability of Argentina's and El Salvador's governments, currency exchange rate fluctuations, the repatriation of funds from Argentina and El Salvador, domestic or global economic conditions (particularly in the states of Texas and Arkansas), changes in foreign or domestic tax laws or the administration of such laws and changes in gaming or lending laws or regulations. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.