AGM Statement

Lookers PLC
13 May 2004

                                                                     13 May 2004

                                   LOOKERS PLC
                                  AGM STATEMENT


At today's Annual General Meeting of Lookers plc, Fred Maguire, Chairman, will
make the following statement:



'The Company made good progress last year and consolidated its position as one
of the country's leading motor retail groups through a series of strategic
acquisitions and significant investment across the business.



I am pleased to announce that trading conditions in the first quarter of 2004
have been extremely positive, including a record March performance, with Lookers
taking full advantage of strong demand in the new and used car market. New car
sales for the Group in the first quarter are up 18%, against a national market
up 6%, and our used car sales are up 21% for the same period.



At the end of this month we will begin trading from our new Vauxhall brand
centre at Star City, Birmingham. We will also be opening the new Volkswagen
centre in Blackburn and a new Renault centre in Newtownards, Northern Ireland.
These major developments are part of circa £50m investment we have made over the
last three years to improve our profitability and shareholder value.



Businesses acquired in the second half of last year, including Honda Warrington,
Lexus Hadleigh and Savilles Auto Villages, have been fully integrated into the
group and are already making a strong contribution to operating profit. This
year will also see the positive effect on operating profits of the
rationalisation decisions taken in 2003.



This year will benefit from us being able to deliver the Bentley Continental GT,
and from May, the Aston Martin DB9 and the Maserati Quattroporte. We have, in
fact, sold our entire allocation of these three models to the end of December
2005.  In the volume market, we now have on display in our showrooms the highly
acclaimed new Vauxhall Astra.



We have a number of initiatives in place which will maximise revenue from our
other income streams and we continue to actively target strategic growth
opportunities with preferred manufacturer partners.



Continuing strong sales of both new and used cars will bring future benefit to
our successful aftersales division through our Customers for Life programmes.



Good progress has been made in respect of our significant retrospective VAT
claim and we hope to be in a position to announce this within the next few
weeks.



The Board is confident that all these factors will result in a strong
performance for Lookers this year.



Enquiries:


Ken Surgenor, Chief Executive
David Dyson, Finance Director
Telephone:      [phone]

Andrew Hayes / James Hill, Hudson Sandler
Telephone:      [phone]




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