Lithia Motors Acquires Chrysler Jeep and Dodge Stores in Omaha, Nebras

    Business Editors

    MEDFORD, Ore.--(BUSINESS WIRE)--Feb. 2, 2005--Lithia Motors, Inc. (NYSE:LAD), the country's eighth-largest automotive dealership group, today announced the acquisition of Jim's Dodge Country and Jim Earp Chrysler Jeep in Omaha, Nebraska. The dealerships will start up operations as Lithia Dodge Chrysler Jeep of Omaha on February 2, 2005. These stores generate approximately $110 million in annualized revenues.
    "We entered Omaha back in the summer of 2002 with the acquisition of Lithia Ford of Omaha and Mercedes Benz of Omaha. This acquisition will enhance our presence and allow Lithia to be more successful in the Omaha market," said Lithia Chairman and CEO Sid DeBoer. "At Lithia, we believe that customer service and establishing long-term relationships with our customers is vital. We now have a broader line-up of strong brands that will help us better serve our customers in the area with the Chrysler/Dodge/Jeep, Ford and Mercedes-Benz franchises," concluded Mr. DeBoer.
    Additionally, in January of this year, Lithia acquired a Chrysler franchise in Eugene, Oregon. The franchise was added to Lithia's Dodge store in that market. The stores name is now Lithia Chrysler Dodge of Eugene. Lithia now serves the Eugene/Springfield, Oregon market with four stores representing the Chrysler/Dodge, Toyota, Nissan and Saturn franchises.

    About Lithia Motors

    Lithia Motors, Inc. is a Fortune 1000 and Russell 2000 Company that sells 25 brands of new vehicles and operates 87 stores and 171 franchises in 13 states in the Western United States 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 95,255 new and used vehicles and had $2.51 billion in total revenue in 2003. Founded in 1946, Lithia expanded from one dealership to a $2.5 billion industry-leading dealer group by 2003. Lithia became a publicly traded company in 1996. In Fortune magazine's 2004 "Most Admired Companies" survey, Lithia ranked No. 2 among all dealerships in the Automotive Retailing/Services category. Highlighting the great partnerships it has developed in each community, the list ranked Lithia No. 1 in "social responsibility," one of eight criteria used to measure each business against its competition.

    Additional Information

    For additional information on Lithia Motors, contact the Investor Relations Department: (541) 776-6591 or log-on to: www.lithia.com - go to Investor Relations

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CONTACT: Lithia Motors Investor Relations Department, 541-776-6591 www.lithia.com

KEYWORD: NEBRASKA OREGON INDUSTRY KEYWORD: AUTOMOTIVE MERGERS/ACQ SOURCE: Lithia Motors

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