AGM Statement

Intermodal Resource Plc
22 April 2005



                            INTERMODAL RESOURCE PLC
                         ('Intermodal' or 'the Group')

                                 AGM STATEMENT

At Intermodal's Annual General Meeting today, Robert J. Montague, Chief
Executive Officer, made the following statement on trading:

'I am pleased to report that trading in the first quarter of the new financial
year has been very encouraging, with our two core businesses, Axis Intermodal
('Axis') and Trailerent, performing in line with our expectations.
Utilisation levels at Axis, our Swapbodies and chassis rental business based in
Germany, stood at 89% at the end of December 2004 and this high level has been
maintained over the first quarter. Axis has also further expanded its
container-carrying chassis fleet, with the addition of 30 Schmitz
multifunctional container-carrying chassis.

I am also delighted to announce that Axis has been appointed to supply
Swapbodies to Peugeot-owned GEFCO, the multinational logistics integrator, who
are to manage the logistics and transportation for two major Football
Tournaments, namely the Confederations Cup in June 2005 and the World Cup in
June 2006. Axis will also provide additional equipment on standby for each
event. Axis' involvement with these prestigious international sporting events
heightens the profile of the business and provides us with very high levels of
brand visibility.

In the UK, Trailerent has delivered the first tranche of Schmitz refrigerated
trailers on contract hire to Culina Logistics Ltd, part of the Muller Dairy
Group, and a quantity of multifunctional container-carrying chassis on a five
year contract to a principal contractor for Atlantic Container Lines.

Both Axis and Trailerent have high levels of contract enquiries and we remain
confident of making further good progress over the year.'


Press enquiries:

Intermodal Resource plc
Robert Montague, Chief Executive Officer               Tel: [phone]

Biddicks
Zoe Biddick or Katie Tzouliadis                        Tel: [phone]


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