Allied Holdings, Inc. Advised by New York Stock Exchange Regarding Listing Standards

Guidance Issued for Second Quarter 2001;
Jay Alix & Associates Hired as Turnaround Consultant

DECATUR, Ga., July 13 Allied Holdings, Inc.
announced today that it has been advised by the New York Stock Exchange
("NYSE") that the Company currently falls below the continued listing standard
requiring total stockholders' equity of not less than $50 million and total
market capitalization of not less than $50 million.
Allied's stockholders' equity was $59.1 million at December 31, 2000.
However, the loss posted in the first quarter of 2001 reduced stockholders'
equity to $36.7 million, $13.3 million below the Continued Listing Standard.
This was the first time the Company's total stockholders' equity fell below
the Continued Listing Standard since the Company became listed on the NYSE.
As required by the NYSE, Allied has submitted a detailed plan to the
Listings and Compliance Committee of the NYSE demonstrating how the Company
plans to be in compliance with the Continued Listing Standard on or before
November 29, 2002, the deadline set by the NYSE. Based on internal estimates,
and execution of planned corporate transactions, Allied believes it will
satisfy the Continued Listing Standard by the NYSE deadline.
The plan submitted to the NYSE contains a number of initiatives already in
process or to be implemented in order to improve stockholders' equity. These
include increasing net income by eliminating non-contributory expenses,
eliminating non-performing assets, optimizing invested assets and raising
rates for services provided to each of its clients in its core vehicle
distribution operations. The Company will also focus on better cash
management and deleveraging its balance sheet.
After reviewing the plan, the Committee will either accept it (following
which Allied will be subject to quarterly monitoring for compliance with the
plan), or not (in which event the Company will be subject to NYSE trading
suspension and delisting). Should the Company's shares cease being traded on
the NYSE, the Company believes that an alternative trading venue will be
available.

Expected Results for Second Quarter 2001
The Company expects to report a net loss between $5.5 - 6.0 million for
the second quarter of 2001. These results include an after-tax gain of
approximately $1.5 million on the disposition of excess real estate and other
assets in Canada, and additional costs of approximately $1.0 million resulting
from the debt amendments entered into in the second quarter of 2001. In
addition, the Company repaid approximately $1.5 million of long-term debt
during the quarter.
These results are in line with previously provided expectations issued by
the Company of a net loss of $5 - 10 million in the aggregate for the last
three quarters of 2001 and reflective of the challenges facing the automotive
hauling industry today. Other results will be reported in the second quarter
earnings release on July 24, 2001.
Hugh E. Sawyer, Allied Holdings' president and chief executive officer
said, "We have initiated an aggressive process to revitalize our Company.
Expectations for performance and accountability have been increased. Any
expense that does not generate a profit or return on investment will be
eliminated. The Company is examining all assets to determine whether any are
surplus or non-income producing. The Company is also performing a thorough
diagnostic of its operations to identify appropriate strategic alternatives to
improve cash management, deleverage its balance sheet and refinance its bank
debt."
Mr. Sawyer added, "Our clients require quality service, improved transit
times and a value-added relationship. We are reviewing our operations to
ensure that we meet or exceed their expectations for performance. Moreover,
we intend to optimize our broad distribution network, redesign our rate
structure and increase our pricing in order to invest in the people,
technology and equipment required to better serve our clients. We intend to
maintain our role as the industry's leading supplier of transportation
services."

Company Hires Jay Alix & Associates as Turnaround Consultant
Allied also announced that it has hired Jay Alix and Associates ("JA&A")
as its turnaround consultant. JA&A, based in Southfield, Michigan, is a
nationally recognized consulting firm assisting with turnaround situations.
JA&A will assist Allied with the design and execution of a turnaround plan.
JA&A will also assist the Company with its debt refinancing.
"I am delighted to have the opportunity to once again work with the
professionals at Jay Alix, and I am confident they will make a significant
contribution to our renewal efforts," said Mr. Sawyer.

About Allied Holdings
Allied Holdings, Inc. is the parent company of several subsidiaries
engaged in providing logistics, distribution and transportation services to
the automotive industry. The services of Allied's subsidiaries span the
entire finished vehicle distribution continuum, and include logistics, car-
hauling, intramodal transport, inspection, accessorization, and dealer prep.
Allied, through its subsidiaries, is the largest company in North America
specializing in the delivery of new and used vehicles.

Statements in this press release that are not strictly historical are
"forward looking" statements. Such statements include, without limitations,
any statements containing the words "believe," "anticipate," "estimate,"
"expect," "intend," "plan," "seek," and similar expressions. Investors are
cautioned that such statements are subject to certain risks and uncertainties
that could cause actual results to differ materially. Without limitation,
these risks and uncertainties include economic recessions or extended or more
severe downturns in new vehicle production or sales, the highly competitive
nature of the automotive distribution industry, the ability to comply with the
terms of its debt agreements, the ability of the Company to obtain financing
in the future, the Company's highly leveraged financial position, dependence
on the automotive industry, labor disputes involving the Company or its
significant customers, the dependence on key personnel who have been hired or
retained by the Company, the ability to obtain price increases from customers,
the availability of strategic acquisitions, dispositions, or joint venture
partners, changes in regulatory requirements which are applicable to the
Company's business, risks associated with conducting business in foreign
countries, and changes in vehicle sizes and weights which may impact vehicle
deliveries per load. Investors are urged to carefully review and consider the
various disclosures made by the Company in this press release and in the
Company's reports filed with the Securities and Exchange Commission.
NOTE: The information in this press release will be discussed by
management today on a conference call that can be accessed at the following
links: http://www.alliedholdings.com and http://www.streetevents.com beginning at 10:30 a.m.
EST.