Lithia Motors Provides EPS Guidance for 2002

LITHIA AUTOMOTIVE GROUP LOGO
Lithia Automotive Group logo. Contact: Betty Whitney, 541-776-6591. (PRNewsFoto)[DM]
MEDFORD, OR USA 09/09/1999
    MEDFORD, Ore., Aug. 3 Lithia Motors, Inc.
today provided initial guidance on 2002 earnings of $1.50 to $1.56 per share,
before the effect of the change in accounting rules for goodwill.  This
represents 15-20% growth in earnings per share over current 2001 guidance of
$1.30 to $1.33 per share.  The change in accounting for goodwill, whereby
certain categories of goodwill are no longer amortized, should add to
2002 reported earnings.  The company anticipates providing more detailed
guidance for sales and margin expectations for 2002 no later than its third
quarter conference call scheduled for October 24, 2001.
    Additionally, Sidney B. DeBoer, Chairman and Chief Executive Officer of
Lithia Motors, Inc. is being featured in an online audio interview on Wall
Street Reporter.  The interview is available at the Wall Street Reporter
website, http://www.wallstreetreporter.com .  In the interview, Mr. DeBoer
highlights the opportunities available in the auto-retailing industry and
Lithia Motors' unique approach to operations and acquisitions.
    Lithia Motors, Inc. is a Fortune 1000 and Russell 2000 Company that
operates 114 franchises in California, Oregon, Washington, Nevada, Colorado,
Idaho, South Dakota and Alaska.  Lithia sells 26 brands of new vehicles at
56 stores and over the Internet through "Lithia.com-America's Car & Truck
Store."  Lithia also sells used vehicles; arranges finance, warranty, and
credit insurance contracts; and provides vehicle parts, maintenance, and
repair services at all of its locations.  Lithia retailed 68,126 new and used
vehicles and had $1.66 billion in total revenue in 2000.
    This press release includes forward looking statements within the meaning
of the "Safe-Harbor" provisions of the Private Securities Litigation Reform
Act of 1995, which management believes are a benefit to shareholders.  These
statements are necessarily subject to risk and uncertainty and actual results
could differ materially due to certain risk factors, including without
limitation economic conditions, acquisition risk factors and others set forth
from time to time in the company's filings with the SEC.  Specific risks in
this press release include stated forward estimates.
    For additional information on Lithia Motors, contact:  Jeff DeBoer, Senior
VP and Chief Financial Officer 541-776-6868 (E-mail: invest@lithia.com) or Dan
Retzlaff, Investor Relations at 541-776-6819 or log-on to:  http://www.lithia.com
-- go to About Lithia -- Investor Relations.

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