EXHIBIT 99.2 [CROWN NEWS RELEASE LETTERHEAD] Institutional Inquiries: JOHN E. WHEELER, JR. Executive Vice President and Chief Financial Officer (410) 659-4803 Shareholder Inquiries: J. STEVEN WISE, Manager, Corporate & Government Affairs (410) 659-4859 FOR IMMEDIATE RELEASE Baltimore, Maryland - March 17, 2000 ROSEMORE EXTENDS CROWN BUYOUT PROPOSAL - -------------------------------------- On March 7, 2000, Crown Central Petroleum Corporation (CNPa and CNPb on the American Stock Exchange) announced that it had received a proposal from Rosemore, Inc., a Maryland corporation that owns approximately 49% of Crown's Class A common stock and 11% of Crown's Class B common stock, to acquire all of the issued and outstanding Class A and Class B common stock held by shareholders other than Rosemore for a price of $8.35 per share. The Rosemore proposal is subject to, among other conditions, the negotiation of a mutually acceptable merger agreement, the unanimous approval of Crown's independent directors, the approval of the transaction by Crown's shareholders, and the receipt of all necessary governmental approvals. The Rosemore proposal was, by its terms, to expire at 5 p.m. on Friday March 17, 2000. Rosemore has advised Crown that its proposal has been extended until 5 p.m. (Maryland time) on Monday, April 17, 2000, or until rejected. Crown Central's board committee of its independent directors is continuing to consider Rosemore's proposal. Headquartered in Baltimore, Maryland since 1930, Crown operates two Texas refineries with a total capacity of 152,000 barrels per day, 331 Crown gasoline stations and convenience stores in the Mid-Atlantic and Southeastern U.S., and 13 product terminals along the Colonial, Plantation and Texas Eastern Product pipelines.