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Lithia Motors Acquires Reno Jeep Chrysler in Nevada

January 29, 2004

Lithia Motors, Inc. announced Jan. 29 that it has completed the acquisition of Reno Jeep Chrysler located in Reno, Nev. The store will be renamed Lithia Chrysler Jeep of Reno. The store has annualized sales of approximately $55 million.

"We first entered the Reno market in 1997 and it has been a solid performing market over the past six years," said Lithia Motors Chairman and CEO Sid DeBoer. "We are excited to be able to increase our presence there. We now have a very broad line-up in the Reno/Sparks area with six stores representing the Chrysler/Jeep, Volkswagen, Audi, Lincoln/Mercury, Subaru, Hyundai, Suzuki and Isuzu franchises."

About Lithia Motors, Inc.

Lithia Motors, Inc. is a Fortune 1000 and Russell 2000 company that sells 24 brands of new vehicles and operates 79 stores and 148 franchises in 12 states in the Western United States and over the Internet through " -- 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 91,478 new and used vehicles and had $2.38 billion in total revenue in 2002.

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