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Allied Holdings Q3 Results Impacted by Firestone Recall

15 September 2000

Allied Holdings, Inc. Third Quarter Results Impacted by Firestone Recall; Fourth Quarter Expectations Maintained

    DECATUR, Ga., Sept. 14 Allied Holdings, Inc.
today announced it expects to report a loss of between $0.50 to $0.60 per
share for the third quarter ending September 30, 2000, approximately
$2 million to $3 million above current consensus estimates.  The revised
estimates are primarily a result of Ford's recent announcement to suspend
production at three manufacturing plants due to the Firestone tire recall.
    Despite this adverse third quarter effect, management reaffirmed it
expects to meet or exceed current First Call fourth quarter consensus earnings
estimates of $0.77 per share.  The company's financial performance is
anticipated to experience the benefit of strong business conditions the
remainder of the year, and the positive impacts of its strategic initiatives
that continue to be implemented.
    The Company said it had expected revenues and operating results to be
seasonally lower in the third quarter, however, additional production cuts at
Ford and, to a lesser extent, extended plant shutdowns at other automotive
manufacturers contributed to the revised estimates.  Allied's subsidiary
company, Allied Automotive Group, handles vehicle delivery at each of the
three Ford plants where production was halted.
    "Although the third quarter will be below expectations, we are confident
that our strategic initiatives and corporate realignment have positioned the
company to achieve the positive earnings we expect in the fourth quarter,"
said A. Mitchell Poole, Jr., Allied Holdings, Inc. vice chairman and chief
executive officer.  "We are optimistic about our long-term outlook and are
encouraged by our operating companies' actions as they implement programs to
enhance shareholder value and improve operating performance."