Chairman's Statement

Lookers PLC
11 May 2000




LOOKERS PLC (the 'Group')       

Annual General Meeting : Chairman's Statement


At the Annual General Meeting held today at 9.30 am the Chairman made the
following statement :

'The new car pricing issue has been a feature of the market place for a
considerable time and this continued into the new Millennium with the
Competition Commission Report also overhanging the industry.  In addition we
saw a growth in websites, often by businesses outside of the industry, trying
to benefit from the price differentials between 'rip off Britain' and European
countries.

Even with this background the Group has traded well during the first quarter
with new car sales on the mainland showing a very significant increase of 20%
compared to a National market of 3.9%.  This includes real growth in retail
sales of 11% during a period when retail sales on a national basis actually
fell, and a dramatic increase in fleet sales.  Used cars sold retail were at a
slightly lower level than in the comparable period.

Good results were produced in March by our mainland motor dealerships with the
introduction of the 'W' registration plate and strong figures were also
recorded by Charles Hurst due to a strong January performance - where the new
year stimulates the market as opposed to a registration prefix.

We continue to work on our e-commerce and internet development which is
already proving to be successful with the sale of specialist cars.  The
website is currently being re-designed including digital photography so that
we will be able to deal on-line taking part-exchanges including the provision
of finance facilities.  Direct ordering for fleets and service bookings is
already available.

Our agricultural machinery business, Platts Harris, continues to operate in a
difficult marketplace where tight stock and cost control are of paramount
importance.

Our management accounts for the first quarter show an increase over the
comparable trading period last year.

We are also pleased to announce the acquisition of our first Honda dealership
covering Merseyside which was completed at the end of April.'


11 May 2000