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Allied Holdings Expects Q1 2000 Results to Exceed Analysts' Estimates

17 April 2000

Allied Holdings, Inc. Expects First Quarter 2000 Results to Exceed Analysts' Estimates

    DECATUR, Ga., April 17 Allied Holdings, Inc. (NYSE: AHI)
today announced it expects to report a loss for the first quarter ending
March 31, 2000 of between $0.11 and $0.15 per share.  The current consensus
estimate is a loss of $0.23 per share.  The Company reported a loss of
$0.51 per share for the first quarter of 1999.  Revenues and operating results
are seasonally lower in the first quarter due to manufacturing plant downtime
in December and early January.
    The Company attributed the improved first quarter results to rate
increases that were put in place during the second half of 1999, improved
operating performance, and higher new vehicle production in the first quarter
of 2000 compared to 1999 which led to higher vehicle delivery volumes.  These
items more than offset the impact of higher fuel costs.  While the Company has
secured fuel surcharges, they were in place for only a portion of the first
quarter.  The Company estimates that higher fuel costs, net of the surcharges,
reduced earnings in the first quarter of 2000 by approximately $1.6 million,
or $0.20 per share.
    The Company also reported that its long-term debt at the end of the first
quarter remained unchanged from year-end.  Solid cash flow from operations,
together with reduced capital spending, provided funds sufficient to offset
borrowings for the CT Group acquisition.
    Commenting on the expected results, A. Mitchell Poole, Jr., Allied's vice
chairman and chief executive officer, stated:  "The first quarter results
exceeded our expectations with the exception of higher fuel costs.  We have
been successful in implementing fuel surcharges and based on current
circumstances, we do not expect fuel costs to have a major impact on the
balance of the year."  Mr. Poole added, "New vehicle sales remain strong and
our operating efficiencies continue to improve, so we are optimistic about the
outlook for 2000."
    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.  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.