AGM Statement

Lookers PLC
11 May 2006

                                                                     11 May 2006



                                     LOOKERS plc

                                    AGM STATEMENT


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

'I am pleased to report that your Company continues to make excellent progress
and is very well positioned to continue to build shareholder value.  Our success
reflects the continued implementation of our stated strategy to develop our used
car and aftersales revenues as well as further developing our mix of volume and
prestige brands with our manufacturer partners.  We have an excellent management
team in place to implement this strategy supported by the hard work and
commitment of a dedicated team across the business.  As a result, we delivered
outstanding trading in the important first quarter with revenues up 17% to £385
million and adjusted * operating profit up 71% to £13.2 million.

The last six months have been eventful for your company.  On 17 January 2006 we
made a recommended £492 million offer for Reg Vardy on terms that we felt were
in shareholder interests.  After careful consideration, your Board took the view
that it was not in shareholder interests to pursue this opportunity at a higher
price.

In January 2006 Pendragon announced that it had made an indicative offer for the
Company.  Despite your Board's readiness to discuss any improvement in the terms
of this proposal, Pendragon and its advisors expressed no willingness to improve
upon those terms.  Subsequently, on 9 March 2006 Pendragon announced its
intention to make a hostile offer for Lookers. Your Board recommended
shareholders not to accept this offer, which it considered significantly
undervalued the Company and was not in shareholders' best interests.  On 27
April 2006, Pendragon announced that only 21% of shareholders had accepted
Pendragon's offer and that, therefore, it had lapsed.  I would like to take this
opportunity to thank shareholders for their support and my colleagues for their
commitment during this period of uncertainty.

On 25 April 2006 we announced that Tony Bramall had bought a 24.2% shareholding
in the Company from GE Corporation.  We are delighted that one of the most
respected and successful operators in the UK motor retail industry has chosen to
make this investment in Lookers' exciting growth prospects and we look forward
to his contribution to our future development.  He will be invited to join the
Board as a non-Executive Director in the near future.

I have now been with the Company for twenty years, the last six years as
Chairman.  During that period the industry and Lookers have developed out of all
recognition. It has been a pleasure to Chair the Company during this period when
it has experienced its best ever growth performance in all respects over a
sustained period.  In particular, we have a highly experienced and respected
management team in place to take the Company forward and are exceptionally well
placed to continue our development in this dynamic environment.  Consequently, I
have decided it is an appropriate time for me to step down as Chairman and from
the Board as soon as my successor has been appointed.'


* before amortisation of intangible assets, impairment of goodwill and
exceptional items




Enquiries:


Lookers plc                                          Telephone:  [phone]

Ken Surgenor, Chief Executive
David Dyson, Finance Director



Hudson Sandler                                       Telephone:  [phone]

Andrew Hayes/Nick Lyon/James Hill






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