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Lithia Motors Announces Acquisition in Sioux Falls, South Dakota .

3 October 2000

Lithia Motors Announces Acquisition in Sioux Falls, South Dakota LITHIA AUTOMOTIVE GROUP LOGO Lithia Automotive Group logo. Contact: Betty Whitney, 541-776-6591. (PRNewsFoto)[DM] MEDFORD, OR USA 09/09/1999    

          South Dakota Dealership is First for Lithia in the Midwest

    MEDFORD, Ore., Oct. 3 Lithia Motors, Inc.
announced today that it has completed the acquisition of the Terry Schulte
dealerships in Sioux Falls, South Dakota.  The acquisition is comprised of two
stores, one with Chevrolet, Subaru, Jeep, and Mitsubishi franchises and a
second Kia store.   The stores have estimated 1999 sales of $75 million.
Lithia's net investment in the stores totaled approximately $7.7 million and
was paid for in cash.
    Sidney B. DeBoer, Chairman and CEO of Lithia Motors, stated, "We are
thrilled to be entering the Sioux Falls market.  Sioux Falls represents the
type of growing and dynamic community that has been successful for Lithia in
the past.  We are looking forward to working with the professional staff at
Terry Schulte Automotive.  We believe that if you provide a good staff the
proper tools and support, and let them adapt our system locally, you will
create a superior dealership.  Our management philosophy based on over
50 years of operating history, has led our company through four years of
unprecedented growth since going public in 1996."