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Press Release

Lithia Motors Announces Initial Public Offering

12/24/96

Lithia Motors Inc. Sells 2.5 Million Shares in Initial Public Offering

MEDFORD, Ore.--(BUSINESS WIRE) -- Lithia Motors Inc. announced today
the sale of 2.5 million newly issued shares of its Class A Common
Stock in an initial public offering at a price of $11 per share.

The Class A Common Stock has been approved for quotation on the Nasdaq
National Market under the symbol "LMTR." Lithia Motors is the largest
retailer of new and used vehicles in southwest Oregon, offering 15
different domestic and imported makes of new automobiles and light
trucks at eight locations. The company, based in Medford, is seeking
to become a leading acquirer of automotive dealerships in medium-sized
markets in the western United States.

The proceeds of the offering will be used primarily to acquire
additional automotive dealerships (including recently completed
acquisitions in Eugene, Ore. and Vacaville, Calif., and a pending
acquisition of a dealership in Salinas, Calif. which is expected to
close in January, 1997), to repay indebtedness, and for general
corporate purposes.

This offering is being made through a syndicate of underwriters
co-managed by Furman Selz LLC, Dain Bosworth Inc. and EVEREN
Securities Inc. Copies of the prospectus relating to the offering may
be obtained from Furman Selz LLC, 230 Park Ave., New York,
N.Y. 10169. The offering is scheduled to close on Dec. 23, 1996.

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