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Allied Holdings, Inc. Expects 1999 Q4 Earnings To Exceed Analysts' Estimates

18 January 2000

Allied Holdings, Inc. Expects 1999 Fourth Quarter Earnings To Exceed Analysts' Estimates

    DECATUR, Ga., Jan. 18 -- Allied Holdings, Inc.
today announced it expects earnings for the fourth quarter ending December 31,
1999 to be between $0.65 and $0.70 per share.  The current consensus estimate
is $0.62 per share.
    The Company attributed the positive fourth quarter results to the rate
increases that were put in place during the second half of 1999, improved
operating performance, and strong vehicle delivery volumes.  Solid cash flow
during the fourth quarter allowed the Company to repay approximately
$20 million of long-term debt during the quarter.
    The Company also reported that the Allied Automotive Group (AAG) has now
renegotiated rates for most of its customers, including one major customer
that had market tested all of its haulaway traffic.  In addition, the Axis
Group subsidiary is expected to be profitable for the fourth quarter and
calendar year 1999.
    Allied Holdings, Inc. is the parent company of several subsidiaries
engaged in the automotive distribution business.   The Allied Automotive Group
(AAG), through its subsidiaries, is the largest motor carrier in North America
specializing in the delivery of automobiles and light trucks.  AAG transports
for all major domestic and foreign manufacturers primarily from manufacturing
plants, rail ramps, ports and auctions to automobile dealers throughout the
United States and Canada.  Allied Holdings' Axis Group, through its
subsidiaries, provides logistics solutions to the United States and
international automotive markets.  Axis utilizes innovative methods of
distribution, as well as traditional and emerging technologies, to help
customers solve the most complex transportation, inventory and logistics
problems.
    Statements in this press release that are not strictly historical are
"forward-looking" statements.  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 downturns in new vehicle production or sales,
the highly competitive nature of the automotive distribution industry,
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 availability of strategic acquisitions 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.