AGM Statement

European Motor Hldgs PLC
17 June 2003


For immediate release                                               17 June 2003



                      EUROPEAN MOTOR HOLDINGS plc ("EMH")


At the Annual General Meeting of EMH held today, Richard Palmer, Chief
Executive, made the following statement:

"National new car registrations for the five months to the end of May 2003
indicate that, although it is too early to say whether UK new car sales for the
full year will reach last year's record levels, demand for new cars remains
strong. Recent research shows that new car prices in the UK are now among the
cheapest in Europe, which should reduce the number of vehicles being imported.
Both of these factors will obviously benefit UK dealers in the coming months.

Our trading so far this financial year has been satisfactory, although new car
margins are under pressure in certain franchises. We remain optimistic about our
prospects for the rest of the year as we have very important new model
introductions from many of our core manufacturer partners due in our second
half. In particular, we expect to benefit from BMW's Z4, 5 series and 6 series.

We are delighted to confirm that the discussions with Premier Automotive Group
that I referred to in our preliminary announcement in April have been concluded
successfully. We will therefore be representing Premier Automotive Group in a
new territory in the near future and will make a further announcement in due
course."



Enquiries:

Richard Palmer    Chief Executive
                  European Motor Holdings plc
                                                          01491 413399
Ann Wilson        Finance Director
                  European Motor Holdings plc             01491 413399



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