Mr. Robert Steele, a shareholder, reports

ROB STEELE ANNOUNCES INVESTMENT IN AUTOCANADA INC.

Through Robert G. Steele's company WAGS Investments Ltd., he has acquired 264,450 common shares of AutoCanada Inc. through facilities of the Toronto Stock Exchange at a price of $22.00 per share for aggregate consideration of $5,817,900.00.

Following such acquisition, Mr. Steele, together with presumed joint actors pursuant to applicable securities legislation, controls 2,372,144 shares representing approximately 10.41 per cent of the outstanding AutoCanada shares.

These shares were acquired for investment purposes. From time to time, Mr. Steele may increase or decrease his direct or indirect ownership, control or direction over the shares in the normal course of his investment activities.