Acquisition

Lookers PLC
11 August 2006


                                                                  11 August 2006


                                  Lookers plc


               Lookers acquires ten dealerships from H R Owen Plc

Lookers plc, one of the leading multi-franchise motor retail groups in the UK,
today announces a conditional agreement to acquire the business and certain
assets of ten dealerships from H R Owen Plc, comprising two Chrysler Jeep sites
at Hatfield and Romford, two Lexus sites at Hatfield and Brighton, two Land
Rover sites at Acton and South Kensington and four Mercedes-Benz sites at
Brighton (includes Smart), Eastbourne, Gatwick and Redhill.

Completion is expected to take place by the end of August 2006 and is subject to
approval by the shareholders of H R Owen and receipt by Lookers of landlords'
consent to the assignment of the leaseholds of the properties.

The consideration payable in cash will be £5.0 million goodwill and
approximately £8.1 million of fixed assets, together with an amount equal to the
net book value of stocks at completion.

The acquisition is expected to add approximately £175 million to Lookers' annual
turnover and in the year ended 31 December 2005 the businesses generated
operating profit of approximately £1.8million.  The gross assets to be acquired
relating to the businesses were £34.6million at 31 December 2005.  The
acquisition is consistent with the Group's successful strategy of targeted
acquisitions to expand existing market areas with preferred manufacturer
partners.  The acquisition follows Lookers' successful acquisition and
integration of six Premier Automotive Group ('PAG') dealerships from H R Owen in
February 2006 and significantly improves the mix of prestige brands, including
the addition of Mercedes-Benz to Lookers' franchise portfolio.

Commenting, Ken Surgenor, Chief Executive said:

'In line with our stated strategy these dealerships complement our existing
market areas in the South East and we are confident that, as with the previously
acquired H R Owen businesses, they will prosper and will be earnings enhancing
in their first full year under Lookers' ownership. We are especially pleased to
have been approved by Mercedes Benz as a market area partner and we look forward
to operating one of the industry's pre-eminent franchises.'

High resolution photographs will be available to media at www.vismedia.co.uk
from 10.00am.


For further information:

Lookers plc                                                 0161 291 0043

Ken Surgenor (Chief Executive)
David Dyson (Finance Director)

Hudson Sandler                                              020 7796 4133

Nick Lyon
James Hill
Kate Hough



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