Allied Holdings, Inc. Receives Acceptance of Plan From New York Stock Exchange For Continued Listing

    DECATUR, Ga., Aug. 20 Allied Holdings, Inc.
announced today that the New York Stock Exchange ("NYSE") has accepted a plan
submitted by Allied which sets forth the actions Allied intends to take to
achieve compliance with the continued listing standards of the NYSE.
Acceptance of the plan will allow Allied to remain listed with the NYSE,
subject to quarterly monitoring by the NYSE over the plan period.  Allied
previously announced that it had been advised by the NYSE that it had fallen
below NYSE continued listing standards.  The plan demonstrated Allied's
ability to comply with the continued listing criteria of not less than
$50 million in total market capitalization and not less than $50 million in
stockholders' equity on or before November 29, 2002, the deadline set by the
NYSE.  No assurances can be given that Allied will be able to achieve the
requirements of the plan or that its common stock will continue to be listed
on the NYSE.
    Commenting on the announcement, Hugh E. Sawyer, President and Chief
Executive Officer of Allied, stated, "We are delighted with the decision of
the NYSE to accept our plan and continue the Company's listing.  Everyone at
Allied is working aggressively to execute the key elements of our turnaround
plan to increase stockholders' equity by eliminating non-contributory expenses
and assets, stimulate new business growth, optimize invested assets, and raise
rates for services provided to each of our clients in our core vehicle
distribution operations.  We are continuing to focus on cash management and
deleveraging our company.  We believe this will ultimately add shareholder
value."

    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.
For additional information about Allied, please visit our website at
http://www.alliedholdings.com

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