ALLIED HOLDINGS SELLS INTEREST IN AUTOLOGIC

ALLIED HOLDINGS SELLS INTEREST IN AUTOLOGIC    Allied Holdings Inc. has announced today that it has agreed to sell its interest in the United Kingdom joint venture established in April 1999, and held by Allied’s subsidiary, Axis International Inc. (“Axis”), to AutoLogic Holdings plc (“Autologic”) for approximately $20.5 million in cash at closing.
   The transaction remains subject to approval of the Autologic shareholders and the satisfaction of other conditions as set forth in the definitive purchase agreement.
   The parties anticipate the transaction will be completed by the end of fourth quarter 2001.
   “This is another step in our positive plan to revitalize Allied,” said Hugh E. Sawyer, president and chief executive officer of Allied Holdings. “Now is the right time to liquidate our strategic investments with AutoLogic.”
   Allied Holdings Inc. is the parent company of several subsidiaries engaged in providing logistics, distribution and transportation services to the automotive industry. Allied, through its subsidiaries, is the largest company in North America specializing in the delivery of new and used vehicles.