Exhibit 99.1

                                                FOR FURTHER INFORMATION CONTACT:
                                                                  AT THE COMPANY
                                                                     John Gaines
                                                          Vice President-Finance
                                                                    806-374-8653


FOR IMMEDIATE RELEASE

             CROSS-CONTINENT ANTICIPATES LOWER THAN EXPECTED SECOND
                  QUARTER RESULTS ON WEAK OKLAHOMA CITY SALES


AMARILLO, TEXAS, JUNE 18, 1997--CROSS-CONTINENT AUTO RETAILERS, INC. (NYSE: 
XC) today announced that its second quarter results will be below analyst 
expectations primarily due to approximately $717,000 in operating losses, or 
$0.05 per share, recorded in April and May at its Performance Nissan and 
Performance Dodge dealerships, and lower than expected new vehicle sales at 
Lynn Hickey Dodge resulting from a disruption of new vehicle availability 
attributed to the Chrysler engine plant strike.  The company also anticipates 
that full year results will be negatively impacted by these events.

The company also announced that it has reached an agreement in principle to 
divest its Performance Nissan and Performance Dodge dealerships for total 
consideration of approximately $9.0 million, subject to certain adjustments 
prior to closing, to an affiliate of Emmett M. Rice, Jr., senior vice 
president, chief operating officer and a director of the company.  The 
consideration for the purchase will be common stock of the company owned by 
Emmett Rice.  The transaction is subject to the execution of a definitive 
agreement and required third party approvals.

Cross-Continent announced its intention to explore a possible sale of the 
dealerships last month.  Total revenue at the Performance Nissan dealership 
approximated $32 million in 1996, and total revenue at the Performance Dodge 
dealership approximated $46 million in 1996.

Under the terms of the agreement, Rice will resign as an officer and director 
of Cross-Continent.  "While we will miss the contribution of Mr. Rice to our 
organization, we wish him well in his new endeavors," Bill Gilliland, 
chairman and chief executive officer of Cross-Continent said.

The company's operating managers at its Amarillo and Oklahoma City 
dealerships will report directly to Gilliland while the operating managers at 
the Denver and Las Vegas dealerships will report to Mr. Douglas Spedding.  
Robert W. Hall, the company's senior vice chairman, will assume Mr. Rice's 
other duties.

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CROSS-CONTINENT AUTO RETAILERS, INC. 
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Cross-Continent Auto Retailers, Inc. owns and operates a group of franchised 
automobile retail dealerships in Texas, Oklahoma, Nevada and Colorado.  
Through these dealerships, the company sells new and used cars and light 
trucks, arranges related financing and insurance, sells replacement parts and 
provides vehicle maintenance and repair services.

Cross-Continent Auto Retailers, Inc. is listed on the New York Stock Exchange 
under the symbol XC.

CROSS-CONTINENT AUTO RETAILERS, INC. BELIEVES ITS SHAREHOLDERS BENEFIT FROM 
THE VIEWS OF MANAGEMENT ABOUT THE FUTURE OF THE COMPANY'S BUSINESS.  INCLUDED 
HEREIN ARE FORWARD-LOOKING STATEMENTS, INCLUDING STATEMENTS WITH RESPECT TO 
ANTICIPATED REVENUE GROWTH, ACQUISITIONS AND PROFITABILITY.  THESE STATEMENTS 
INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER 
MATERIALLY, INCLUDING WITHOUT LIMITATION ECONOMIC CONDITIONS, RISKS 
ASSOCIATED WITH ACQUISITIONS AND THE RISK FACTORS SET FORTH FROM TIME TO TIME 
IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.

   TO RECEIVE ADDITIONAL INFORMATION ON CROSS-CONTINENT AUTO RETAILERS, INC.
          FREE OF CHARGE VIA FAX, DIAL 1-800-PRO-INFO AND ENTER "XC."       

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