Update on NationsRent Acquisition

ASHTEAD GROUP PLC                               

                       UPDATE ON NATIONSRENT ACQUISITION                       

On 19 July, Ashtead Group plc ("Ashtead"), the international equipment rental
group serving the construction, industrial and homeowner markets, announced the
proposed acquisition of NationsRent and related transactions that would be
financed through:

  * the underwritten Rights Issue of 152,141,151 Ordinary Shares at £1.00 per
    share to raise approximately £152 million before expenses
   
  * the raising of US$550 million before expenses, from the issue of New Senior
    Loan Notes by Ashtead Capital Inc, an indirect subsidiary of Ashtead
   
  * drawings under a new underwritten US$1.6bn Senior Secured Credit Facility
   
Ashtead has now completed the marketing of the New Senior Loan Notes and is
pleased to confirm that they priced on 1 August at an interest rate of 9% in
line with the indicative estimate set out in the announcement made on 19 July.

Application will be made to the UK Listing Authority for the New Senior Loan
Notes to be admitted to the official list of the UK Listing Authority and to
the London Stock Exchange for the New Senior Loan Notes to be admitted to
trading on the London Stock Exchange's Professional Securities Market. Use of
the proceeds from the issuance of the New Senior Loan Notes is conditional upon
the completion of the NationsRent acquisition at which time such proceeds will
be used to finance, in part, the acquisition. Subject to approval by
Shareholders at the forthcoming Extraordinary General Meeting to be held on 4
August, completion of the acquisition is currently expected to take place in
late August or early September.

Definitions used in the Prospectus sent to Shareholders dated 19 July 2006
shall have the same meanings when used in this announcement, unless the context
requires otherwise.

Contacts:

Cob Stenham         Non-executive chairman                  020 7299 5562      
George Burnett      Chief executive                  )                         
Ian Robson          Finance director                 )      01372 362300       
Emma Burdett        Maitland                                020 7379 5151