AGM Statement

Lookers PLC 18 May 2007 18 May 2007 LOOKERS plc AGM STATEMENT At today's Annual General Meeting of Lookers plc, Chairman Phil White will make the following statement: 'I am pleased to report that your Company continues to make strong progress. Through our proven successful strategy, we remain dedicated to expanding our complementary business streams through both organic growth and strategic acquisitions. Our franchise dealer network has seen a good start to the year with like for like sales ahead of the new car market and is performing in line with our expectations. Our de-centralised management structure and close manufacturer relationships continue to enable us to deliver superior returns across the franchises we operate. We continue to see the benefits from our largely completed refurbishment programme across a number of our outlets. The acquisitions made last year from HR Owen have been fully integrated, expanding our presence in the South of England, strengthening our mix of volume and prestige brands and are performing in line with expectations. Our aftersales division continues to go from strength to strength with our new FPS distribution facility in Sheffield providing a strong platform to support further sales growth. To further strengthen this increasingly important part of our business, FPS yesterday completed the acquisition of the entire share capital of BTN Turbo Charger Service Limited for £3million in cash. A further maximum of £1million will become payable dependent upon the profit achieved in the twelve months to 30 June 2007. This acquisition broadens our offering in the growing parts distribution aftermarket, particularly in such a fast growing sector as turbochargers and will be an important contributor to the expansion of our parts distribution operation. Our continued success is testament to the effectiveness of our strategy and the dedication of the management and colleagues across our business. The year has started well against strong comparatives for the first quarter last year and is in line with the Board's expectations. We remain confident in the outlook for 2007. Enquiries: Lookers plc Telephone: 0161 291 0043 Ken Surgenor, Chief Executive David Dyson, Finance Director Hudson Sandler Telephone: 020 7796 4133 Andrew Hayes/Nick Lyon/Kate Hough This information is provided by RNS The company news service from the London Stock Exchange

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Lookers (LOOK)
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