Performance Share Plan

Ashtead Group PLC
07 October 2004


                               ASHTEAD GROUP PLC

                             PERFORMANCE SHARE PLAN



Ashtead Group plc, the international equipment rental group serving the
construction, industrial and homeowner markets, announces that, following the
approval of its new Performance Share Plan by shareholders at the Annual General
Meeting on 20 September, initial awards were made under the Plan to 24 senior
executives on 6 October 2004.


As set out in the AGM circular to shareholders the awards under the Plan
comprise the conditional right to receive ordinary shares of 10p each. The
awards will normally vest on the third anniversary of grant subject to continued
employment and the meeting of challenging earnings per share and total
shareholder return targets. The Company intends to utilise existing shares held
by the Company's Employee Share Ownership Trust to fulfil any obligation to
employees which may arise in October 2007.


Included within the awards made yesterday are awards as follows to the executive
directors of Ashtead Group plc:

                               Number of shares                    Percentage of
Director                       covered by award             issued share capital

George Burnett                          304,219                           0.09%
Ian Robson                              184,821                           0.06%
Cliff Miller                            175,394                           0.05%
Sat Dhaiwal                             133,929                           0.04%


The exercise price for the above awards is £1 for all the ordinary shares to
which the award relates. No consideration was paid for the grant of any of these
awards.


Contacts:

Cob Stenham           Non-executive chairman              020 7299 5562
George Burnett        Chief executive                     01372 362300







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