Disposal

Ashtead Group PLC
28 July 2003


ASHTEAD GROUP PLC.


DISPOSAL OF CERTAIN NON-CORE ASSETS AND RETIREMENT OF A DIRECTOR



Ashtead Group plc announces that it has disposed of certain non-core businesses
and surplus properties in the UK raising over £6 million. This allows the Group
to both pay down debt and expand and focus on its core activities. The following
disposals have been made by its subsidiary, Ashtead Plant Hire Company Limited
which trades as A-Plant.


Big Air


The rental assets and ongoing contracts of A-Plant's specialist Big Air division
have been sold to Speedy Power Limited, a division of Speedy Hire PLC, for a
cash consideration of just under £4million, 85% of which will be payable on
completion and the balance after asset verification. The business operates from
three locations and involved the renting of large compressors. One property is
being let to the purchaser; the other two sites are to remain with A-Plant for
use in its other continuing operations. The assets have been sold at
approximately their net book value and the profits attributable to this part of
the business for the year ended 30 April 2003 were break-even.


The disposal of this business is not expected to have any material effect on
A-Plant. The proceeds will be used to pay down debt.


Mast climbing working platforms


The rental assets and ongoing contracts of A-Plant's specialist mast climbing
business which operated from two locations have been sold to Mastclimbers
Limited for a cash consideration of approximately £1.4 million. This disposal
will have no material effect on A-Plant.


Freehold properties


A-Plant's freehold premises at Mansfield have been sold and contracts have also
been exchanged for the sale of its freehold premises at Kempston, Bedford. Both
properties were surplus to requirements following the relocation of the
businesses previously run from these locations. The combined sales proceeds are
approximately £1 million and will generate a profit over book value of slightly
less than £0.5m.


Retirement of a director


Alan Wheatley, Deputy Chairman, has indicated his intention to retire from the
Board effective on the date of the Annual General Meeting (22 September 2003)
when he will have served the Group for 91/2 years as Deputy Chairman. The Board
wishes to record its thanks to Alan for his invaluable contribution to its
proceedings since he joined in March 1994


ENDS

28 July 2003



Contacts

George Burnett, Chief Executive                    )
Ian Robson, Finance Director                       )      01372 362300

David Trenchard, Tulchan Communications                   0207 353 4200







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