Lithia Motors Inc. Declares Quarterly Dividend of $0.07 Per Share for the First Quarter of 2004

MEDFORD, Ore.--April 26, 2004--Lithia Motors, Inc. today announced that it has declared a dividend of $0.07 per share for the first quarter of 2004. Shareholders of record as of May 7, 2004 will receive the dividend that will be payable May 2, 20041, 2004.

Lithia Motors, Inc. is a Fortune 1000 and Russell 2000 Company that sells 25 brands of new vehicles and operates 80 stores and 149 franchises in 12 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 95,255 new and used vehicles and had $2.51 billion in total revenue in 2003.

Additional Information

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, Director Investor Relations at 541-776-6819 or log-on to: www.lithia.com -- go to About Lithia -- Investor Relations.