Disposal of Business

Ashtead Group plc

23 June 2008

                               ASHTEAD GROUP plc                               

                                  ("Ashtead")                                  

            DISPOSAL OF ASHTEAD TECHNOLOGY RENTALS (the "Disposal")            

The Board of Ashtead is pleased to announce the sale of Ashtead Technology
Rentals to a management led buyout backed by Phoenix Equity Partners Limited
("Phoenix") for a total consideration of approximately £95.6 million payable in
cash on completion. Completion of the Disposal is expected to take place
shortly.

Ashtead Technology Rentals is a leader in the rental of electronic equipment to
the offshore oil and gas sector and the environmental monitoring and testing
industry and operates from 14 locations in the UK, North America and Singapore.
The applications for its wide range of rental equipment include subsea
positioning, remotely operated vehicle sensors, environmental monitoring,
non-destructive testing and remote visual inspection.

As reported in Ashtead's 2007 Annual Report and Accounts, as at 30 April 2007,
Ashtead Technology Rentals had segment assets of £22.2 million, segment
liabilities of £4.1 million and contributed £6.2 million of profit to the
Ashtead Group's overall profit before taxation, amortisation and exceptionals
in the year ended 30 April 2007.

The management of Ashtead Technology Rentals, including Andy Doggett, Managing
Director and Andy Holroyd, President of North America, have led the buyout and
will continue to manage the business under its new ownership.

This Disposal follows a strategic review of Ashtead Technology Rentals as a
result of which the Ashtead board concluded that the business was not core and
sought a disposal.

Commenting on the transaction, Geoff Drabble, Chief Executive of Ashtead Group,
said:

"We believe that this transaction is attractive for our shareholders and leaves
us focused on our two core businesses, Sunbelt Rentals and A-Plant. The
proceeds from the Disposal will be used to reduce Ashtead's outstanding net
debt, having regard to the Board's overall strategy of managing the capital
structure conservatively. The Board would like to thank the management and
employees of Ashtead Technology Rentals for the valuable contribution that they
have made to the Group over the past 18 years."

Commenting on the transaction, Hugh Lenon, Managing Partner of Phoenix, said:

"We are very pleased to have the opportunity to invest in Ashtead Technology
Rentals and to work alongside the management team to develop it as an
independent business. The acquisition demonstrates our continuing enthusiasm
for the business services sector. We will invest in the expansion of the
business with the objective of continuing the track record of impressive growth
witnessed over the last few years."

Ashtead Group plc will announce its results for the year ended 30 April 2008
tomorrow when there will also be a meeting for analysts at 9.30am at the
offices of RSB Hoare Govett at 250 Bishopsgate, London, EC4R 4AA.

Enquiries:

Ashtead Group plc (020 7726 9700)

Geoff Drabble

Ian Robson

NM Rothschild (020 7280 5000)

Ravi Gupta

Anselm Frost

Maitland (020 7379 5151)

Brian Hudspith

This announcement is for information purposes only and does not constitute an
offer or invitation to acquire or dispose of any securities or investment
advice in any jurisdiction.

Rothschild, which is authorised and regulated by the Financial Services
Authority, is acting for Ashtead Group plc and for no one else in connection
with the Disposal and will not be responsible to anyone other than Ashtead
Group plc for providing the protections afforded to customers of Rothschild or
for affording advice in relation to the Disposal, the contents of this
announcement or any transaction, arrangement or other matter referred to in
this announcement.