Keystone Automotive Industries Acquires Certain Assets of Eagle Automotive

Purchase Complements Recent Expansion of its Distribution Network


POMONA, Calif., April 5, 2002 (PRIMEZONE) -- Keystone Automotive Industries, Inc. (Nasdaq:KEYS) today announced it has acquired certain assets of Eagle Automotive, based in Knoxville, Tennessee, which recently filed for protection under Chapter 7 of the Bankruptcy Code that covers liquidation proceedings. Terms of the transaction were not disclosed.

Separately, the company announced that it has established greenfield operations in Columbus, Ohio; Vancouver, Washington; and Raleigh, North Carolina. These openings complement the company's acquisition in January 2002 of the aftermarket collision parts distribution business of P-G Products Inc., based in Cincinnati, Ohio, and Indiana Distributors, Inc., an aftermarket collision parts business based in Elkhart, Indiana, as well as a greenfield operation established in January in Oklahoma City.

Keystone Automotive Industries, Inc. distributes its products in the United States primarily to collision repair shops through its 114 distribution facilities, of which 21 serve as regional hubs. Its product lines consist of automotive body parts, bumpers, and remanufactured alloy wheels, as well as paint and other materials used in repairing a damaged vehicle. These products comprise more than 19,000 stock keeping units that are sold to more than 25,000 repair shops throughout the nation.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company's current expectations and beliefs concerning future developments and their potential effects on the company. There can be no assurance that future developments affecting the company will be those anticipated by the company. Actual results may differ from those projected in the forward-looking statements. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors, including but not limited to the impact on the company as a result of (i) the termination of the installation of a new comprehensive enterprise software package and the special charge related thereto as well as the cost and time involved in implementing the new management information system contracted for in January 2002; (ii) the continuing impact of the verdict in the State Farm Mutual Automobile Insurance Company class action, which is on appeal; (iii) the recent diminished value verdict in Georgia; (iv) the application of SFAS No. 142; and (v) the uncertainty involved in acquiring businesses and/or opening greenfield operations. In addition, there can be no assurance that the momentum in sales and net income experienced during the last year will be sustainable. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise. For a more detailed discussion of some of the ongoing risks and uncertainties of the company's business, see the Company's Form 10-K for the year ended March 30, 2001 on file with the Securities and Exchange Commission.



            

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