Lithia Motors Acquires Ford Store in Omaha, Nebraska

MEDFORD, Ore., June 10 Lithia Motors, Inc. announced today that it has completed the acquisition of Jay Wolfe Ford in Omaha, Nebraska. The store will be renamed Lithia Ford of Omaha. The store had sales of approximately $55 million in 2001. The acquisition was paid for in cash.

Lithia Motors Chairman and CEO Sid DeBoer added, "This is our first store in Omaha, Nebraska which is a strong regional market in the Midwest. Lithia should do well in Omaha with its low unemployment, stable growth and a strong sense of community. We are proud to be entering this market with the Ford brand and hope to continue to grow here in the future. This store has a great location and a lot of potential for growth. This represents Lithia's 7th store acquisition of the year as we continue with our disciplined acquisition strategy."

Lithia Motors, Inc. is a Fortune 1000 and Russell 2000 Company that sells 24 brands of new vehicles and operates 65 stores and 127 franchises in 10 states in the Western United States 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 76,835 new and used vehicles and had $1.87 billion in total revenue in 2001.