Disposal

Lookers PLC
3 January 2002


3 January 2002


    Lookers plc ('Lookers') - Disposal of the business and assets of SMAC
                         Continental Limited ('SMAC')


Lookers plc announces the disposal of the business and certain of the assets
of its Mercedes Benz dealership in Southend which currently trades as SMAC.


SMAC achieved profits before taxation for the year ended 31 December 2000 of £
230,000 with assets being disposed of amounting to approximately £4.2 million
at that date.


The total consideration of approximately £5.1 million was settled in cash.


In the short term the funds received will reduce gearing but ultimately will
be used to fund further expansion. Opportunities are currently being evaluated
with Mercedes Benz and other specialist franchises.




Enquiries:


Fred Maguire

Chairman, Lookers plc

Tel: [phone]



Allan Marston

Group Financial Director

Lookers plc

Tel: [phone]



Andrew Hayes

Hudson Sandler

Tel: [phone]