Disposal

Ashtead Group PLC
15 January 2004


                               Ashtead Group plc


                           Disposal of Irish business





Ashtead Group plc announces that it has today sold its Irish business,
comprising 15 profit centres in the Republic of Ireland and Northern Ireland to
McCormick Macnaughton, the Caterpillar dealer for Ireland. The estimated
consideration of £12.1 million comprises £8.2 million being paid in cash at
closing and the balance which will be payable in stages in coming months,
following agreement of asset values. After paying costs, the net proceeds will
be applied to reduce outstanding bank debt.


The business being sold generated a profit before interest of £0.5 million in
the year ended 30 April 2003 and £0.2 million in the twelve months ended 31
December 2003. The book value of the net assets being sold is £12.5 million and
its EBITDA for the twelve months ended 31 December 2003 was £2.4 million.


Following the disposal, which completes A-Plant's restructuring programme, 
A-Plant remains the second largest equipment rental company in the UK and 
comprises three focussed divisions: Plant, Tool Hire Shops and Specialist 
businesses, together operating a total of 216 profit centres providing 
national service throughout Great Britain.


George Burnett, Chief Executive of Ashtead Group, said: 'We are delighted to
announce this transaction, which represents the completion of our restructuring
programme in A-Plant. We are now looking forward to being able to focus on 
driving A-Plant forward.'



Contacts:

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

David Trenchard     Tulchan Communications        )      020 7353 4200
William Davidson                                  )







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