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Exhibit 99.1

LKQ Corporation Announces Third Quarter 2003 Results

        Chicago, IL—October 28, 2003—LKQ Corporation (NASDAQ: LKQX) today reported results for its third quarter ended September 30, 2003, with revenue of $83.5 million and net income of $3.5 million, representing growth over the third quarter of 2002 of 16.2% and 49.1%, respectively.

        "We reported another quarter of year over year double digit revenue and earnings growth," said Joe Holsten, President and Chief Executive Officer.

2003 Reported Results

        For the third quarter of 2003, revenue increased 16.2% to $83.5 million compared with $71.9 million for the third quarter of 2002. For the third quarter of 2003, net income increased 49.1% to $3.5 million compared with $2.4 million for the third quarter of 2002. Diluted earnings per share was $0.22 for the third quarter of 2003 compared with $0.12 for the third quarter of 2002.

        For the nine months ended September 30, 2003, revenue increased 12.9% to $243.7 million compared with $216.0 million for the same period in 2002. For the nine months ended September 30, 2003, net income before cumulative effect of a change in accounting principle increased 32.7% to $11.6 million compared with $8.7 million for the same period in 2002. Diluted earnings per share before cumulative effect of a change in accounting principle was $0.68 for the nine months ended September 30, 2003 compared with $0.45 for the same period a year ago.

        For the nine months ended September 30, 2003, net income increased by $52.8 million to $11.6 million compared with a $41.2 million net loss for the same period in 2002. Diluted earnings per share was $0.68 for the nine months ended September 30, 2003 compared with diluted loss per share of $2.12 for the same period in 2002. The 2002 net loss reflects the $49.9 million cumulative effect of change in accounting principle, net of tax in the first quarter of 2002 related to implementation of Statement of Financial Accounting Standards No. 142, "Goodwill and Other Intangible Assets."

        The number of outstanding shares of common stock in the first nine months of 2003 has declined significantly from the same period in 2002 due to shares repurchased in the first half of 2003. The number of outstanding shares in the fourth quarter of 2003 will be further affected by the 5,000,000 shares sold by LKQ Corporation in its initial public offering as discussed below.

Company Outlook

        We expect full year 2003 revenue to be within a range of $323 million to $326 million, net income to be within a range between $14.2 million and $14.6 million and diluted earnings per share to be between $0.78 and $0.80.

Quarterly Conference Call

        We will host an audio webcast to discuss our third quarter results along with 2003 earnings guidance on Tuesday October 28, 2003 at 10:30 am Eastern Time. The live audio webcast can be accessed on the internet at www.lkqcorp.com in the Investor Relations section. An online replay of the webcast will be available on the website approximately two hours after the live presentation and will remain on the site until November 28, 2003.

About LKQ Corporation

        LKQ Corporation is the largest nationwide provider of recycled OEM automotive replacement parts and related services, with 38 sales and processing facilities and 12 redistribution centers that reach most major markets in the United States.

        On October 2, 2003, LKQ Corporation's S-1 Registration Statement became effective and subsequently an initial public offering was consummated for 8,050,000 shares of its common stock, including the over-allotment option. The offering was priced at $13.00 per share with 5,000,000 shares sold by LKQ Corporation and 3,050,000 shares sold by certain selling stockholders.

Forward Looking Statements

        The statements in this press release that are not historical are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our expectations, beliefs, hopes, intentions or strategies. Forward looking statements involve risks and uncertainties, some of which are not currently known to us. Actual events or results may differ materially from those expressed or implied in the forward looking statements as a result of various factors. These factors include the risk factors and other risks that are described in our Registration Statement on Form S-1 as declared effective on October 2, 2003 and in other reports filed by us from time to time with the Securities and Exchange Commission. We assume no obligation to update any forward looking statement to reflect events or circumstances arising after the date on which it was made.

Financial Tables To Follow

LKQ CORPORATION AND SUBSIDIARIES
Unaudited Consolidated Statements of Operations
(In thousands, except per share data)

		Three Months Ended September 30,						Nine Months Ended September 30,
		2003			2002			2003			2002
Revenue		$	83,472		$	71,860		$	243,746		$	215,961
Cost of goods sold			44,431			38,715			128,907			116,158
	Gross margin		39,041			33,145			114,839			99,803
Facility and warehouse expenses			9,973			9,279			29,154			27,062
Distribution expenses			8,893			7,272			25,675			20,798
Selling, general and administrative expenses			12,288			10,683			35,015			31,449
Depreciation and amortization			1,325			1,229			4,070			3,638
	Operating income		6,562			4,682			20,925			16,856
Other (income) expense
	Interest expense		644			652			1,846			2,323
	Stockholder loan guarantee fee		—			23			—			160
	Interest income		(3	)		(13	)		(14	)		(158	)
	Other (income) expense, net		50			(55	)		(111	)		(150	)
	Total other expense		691			607			1,721			2,175
	Income before provision for income taxes and cumulative effect of change in accounting principle		5,871			4,075			19,204			14,681
Provision for income taxes			2,352			1,715			7,626			5,955
	Income before cumulative effect of change in accounting principle		3,519			2,360			11,578			8,726
Cumulative effect of change in accounting principle, net of tax			—			—			—			(49,899	)
	Net income (loss)	$	3,519		$	2,360		$	11,578		$	(41,173	)
Basic earnings (loss) per share:
	Income before cumulative effect of change in accounting principle	$	0.25		$	0.13		$	0.76		$	0.49
	Cumulative effect of change in accounting principle, net of tax		—			—			—			(2.82	)
	Net income (loss)	$	0.25		$	0.13		$	0.76		$	(2.33	)
Diluted earnings (loss) per share:
	Income before cumulative effect of change in accounting principle	$	0.22		$	0.12		$	0.68		$	0.45
	Cumulative effect of change in accounting principle, net of tax		—			—			—			(2.57	)
	Net income (loss)	$	0.22		$	0.12		$	0.68		$	(2.12	)
Weighted average common shares outstanding:
	Basic		14,205			17,645			15,326			17,655
	Diluted		16,178			19,405			17,135			19,416

LKQ CORPORATION AND SUBSIDIARIES
Unaudited Consolidated Condensed Statements of Cash Flows
(In thousands)

					Nine Months Ended September 30,
					2003			2002
CASH FLOWS FROM OPERATING ACTIVITIES:
	Net income (loss)				$	11,578		$	(41,173	)
	Adjustments to reconcile net income (loss) to net cash provided by operating activities:
		Depreciation and amortization				4,070			3,638
		Deferred income taxes				1,356			1,462
		Other adjustments				(31	)		176
		Cumulative effect of change in accounting principle				—			49,899
		Changes in operating assets and liabilities, net of effects from purchase transactions:
			Receivables			(2,368	)		(1,478	)
			Inventory			1,066			(655	)
			Other operating assets and liabilities			1,355			2,590
				Net cash provided by operating activities		17,026			14,459
CASH FLOWS FROM INVESTING ACTIVITIES:
	Purchases of property and equipment, net					(5,339	)		(3,939	)
	Cash used in acquisitions					(3,285	)		—
			Net cash used in investing activities			(8,624	)		(3,939	)
CASH FLOWS FROM FINANCING ACTIVITIES:
	Proceeds from the sale of common stock and warrant exercises					625			30
	Debt issuance costs					(131	)		(621	)
	Net borrowings (repayments) of long-term debt					14,943			(8,900	)
	Repurchase of common stock					(22,903	)		—
		Net cash used in financing activities				(7,466	)		(9,491	)
Net increase in cash and equivalents						936			1,029
Cash and equivalents, beginning of period						584			1,587
Cash and equivalents, end of period					$	1,520		$	2,616

LKQ CORPORATION AND SUBSIDIARIES
Unaudited Consolidated Condensed Balance Sheets
(In thousands, except share data)

			September 30, 2003			December 31, 2002
Assets
Current Assets:
	Cash and equivalents		$	1,520		$	584
	Receivables, net			21,036			18,592
	Inventory			53,681			53,779
	Prepaid expenses and other current assets			3,983			1,448
		Total Current Assets		80,220			74,403
Property and Equipment, net				41,666			39,861
Intangibles, net				50,814			49,328
Deferred Income Taxes				10,307			11,713
Other Assets				2,041			1,442
		Total Assets	$	185,048		$	176,747
Liabilities and Stockholders' Equity
Current Liabilities:
	Accounts payable		$	5,515		$	4,536
	Accrued expenses and other current liabilities			15,113			12,749
	Current portion of long-term obligations			17,810			6,449
		Total Current Liabilities		38,438			23,734
Long-Term Obligations, Excluding Current Portion				31,301			27,756
Other Noncurrent Liabilities				4,392			4,128
Redeemable Common Stock, $0.01 par value, 50,000 shares issued at September 30, 2003				617			—
Commitments and Contingencies
Stockholders' Equity:
	Common stock, $0.01 par value, 100,000,000 shares authorized, 14,230,287 and 17,644,885 shares issued at September 30, 2003 and December 31, 2002, respectively			142			176
	Additional paid-in capital			132,053			154,492
	Warrants			543			543
	Deferred compensation expense			(7	)		(73	)
	Retained earnings (Accumulated deficit)			(22,431	)		(34,009	)
		Total Stockholders' Equity		110,300			121,129
		Total Liabilities and Stockholders' Equity	$	185,048		$	176,747

CONTACT:
LKQ Corporation
Mark T. Spears, Senior Vice President and Chief Financial Officer
312-621-2730
irinfo@lkqcorp.com

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LKQ Corporation Announces Third Quarter 2003 Results