The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Lithia Motors Announces Appointment of New CFO and Other Promotions

28 March 2000

Lithia Motors Announces Appointment of New Chief Financial Officer and Other Promotions LITHIA AUTOMOTIVE GROUP LOGO Lithia Automotive Group logo. Contact: Betty Whitney, 541-776-6591. (PRNewsFoto)[DM] MEDFORD, OR USA 09/09/1999     

    MEDFORD, OREGON, March 28 Lithia Motors, Inc.
announced the appointment of Jeffrey B. DeBoer, who currently serves as Vice
President of Finance and Investor Relations of Lithia Motors, to the position
of Senior Vice President and Chief Financial Officer.   Concurrent with this
appointment, Brian R. Neill announces his resignation as Chief Financial
Officer.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/19990909/LITHIALOGO )
    Prior to joining Lithia Motors, Jeff was an equity analyst and sector fund
manager for Fidelity Investments Japan from 1994 to 1997 and an international
credit officer for The Fuji Bank, Limited in Tokyo, Japan from 1988 to 1992.
He received his undergraduate degree cum laude from Pomona College in 1988 and
a Masters of Business Administration (MBA) from London Business School in
1994, with a specialty in finance and investment management.  Jeff also
attended the National Auto Dealers Association's Dealer Academy in 1998 where
he was trained in all operational aspects of auto retailing management.
    Sidney B. DeBoer, Chairman and CEO of Lithia Motors, stated, "Jeff has
worked with Brian on a daily basis since March 1997 and has been fully trained
in all aspects of Brian's position and is ready to take on the larger
responsibilities.  Brian has decided to pursue a business opportunity with the
leading retailer in the powersports industry as it considers its financing
options for growth.  We appreciate Brian's dedicated efforts over the past
five years and feel that his expertise and knowledge gained at Lithia will
serve him well in his new endeavors."
    Brian R. Neill had the following comments upon his departure from Lithia
Motors, "Lithia is a great company with a terrific future and is deep in
management talent in all areas of the business.  I have appreciated the
opportunity to work with this team in building the nation's premier
publicly-owned automobile retailer.  This new opportunity in the Internet
arena with ePowerSports.com is one I just couldn't turn down.
ePowerSports.com, headquartered in Florida, is the nation's largest network in
the powersports business, which encompasses motorcycles, personal watercraft,
all terrain vehicles and related parts and accessories."
    Additionally, Lithia announced the following promotions of three current
Vice Presidents to the position of Senior Vice President:  Don Jones, Jr.,
SVP, Retail Operations, Bryan B. DeBoer, SVP, Mergers
& Acquisitions/Operations, and W. Douglas Moreland, SVP, Regional
Operations-Colorado.  Additionally, Lithia announced the appointment and
promotion of three new officers of the company, Bob Striplin, Vice President,
Marketing, Kyra Drennan, Vice President, Information Systems, and Larissa
McAlister, Vice President, Finance and Reporting.
    Sidney B. DeBoer, Chairman and CEO of Lithia Motors, stated, "All of these
are well-deserved promotions of individuals who all have either more than ten
years experience with the company or in the auto industry and have made
significant contributions to the success of Lithia Motors.  I cannot begin to
describe how proud I am of how each of these individuals has developed to the
point where they are ready to take on more and more responsibility and to help
me guide this company down the path we have laid for the future."
    Lithia now operates 101 franchises in California, Oregon, Washington,
Nevada, Colorado, and Idaho and sells 25 brands of new vehicles at 45 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 52,485 new and used
vehicles in 1999.  Lithia's current annualized revenue run rate, including all
completed acquisitions, is over $1.5 billion.
    This press release includes forward looking statements, 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.
    For additional information on Lithia Motors, contact:  Jeff DeBoer, Senior
Vice President and Chief Financial Officer 541-776-6868 or log-on to
http://www.lithia.com (E-mail: invest@lithia.com).