Closing of High Yield Bond

Ashtead Group PLC
16 April 2004


                                ASHTEAD GROUP PLC


                         CLOSING OF HIGH YIELD BOND AND
                  EXTENSION OF MATURITY ON EXISTING SENIOR DEBT
                                        

Ashtead Group plc is pleased to confirm that its £120 million high yield bond
offering has closed and funded today. In line with the Company's agreement with
its senior lenders, $200 million (£109.3 million) out of the net proceeds of the
offering has been applied to reduce outstanding senior debt and accordingly the
maturity of the remaining senior debt facilities has now been extended to 30
September 2007. This means that the weighted average maturity of all the
Company's debt facilities is now approximately five years and the weighted
average interest rate payable under those facilities is now approximately 7%.


Contacts:

Cob Stenham         Chairman                                020 7299 5562
George Burnett      Chief Executive          )              01372 362300
Ian Robson          Finance Director         )

David Trenchard     Tulchan Communications                  020 7353 4200








                      This information is provided by RNS
            The company news service from the London Stock Exchange