Disposal

Inchcape PLC
22 December 2006

22 December 2006

                   INCHCAPE DISPOSES OF INCHROY JOINT VENTURE
                       HOLDING TO WING HANG BANK LIMITED

Inchcape plc ('Inchcape'), the leading international automotive distributor and
retailer, announces the sale of Inchroy Credit Corporation Limited ('Inchroy'),
the Company's joint venture finance company in Hong Kong, to Wing Hang Bank
Limited for HKD1,400 million, (c.£92 million), to be satisfied in cash.
Completion of the disposal is conditional upon approvals by the HKMA in Hong
Kong and the Federal Reserve Board in New York.

Inchroy is a 50/50 joint venture with BankAmerica International Financial
Corporation ('BankAmerica'). The principal business activities of Inchroy
comprise the provision of financing for motor vehicles and equipment and
extending personal and mortgage loans. As the Company's lending products and
customer base have become more diverse it is no longer a core business for
Inchcape.

Gross assets of Inchroy were HKD5,300 million (c.£398 million) as at 31 December
2005. Consolidated net profit before tax of Inchroy amounted to HKD103 million
(c.£7.7million) and HKD125 million (c.£8.4 million) for the years ended 31
December 2005 and 2004, respectively. Consolidated net profit after tax amounted
to HKD85 million (c.£6.4 million) and HKD103 million (c.£6.9 million) for the
years ended 31 December 2005 and 2004, respectively. The net impact of the sale
is expected to be earnings neutral (before any one off costs and amortization of
intangible assets) in the financial year ending 31 December 2007 (note 2). The
net proceeds due to Inchcape, 50% of the total consideration, will be reinvested
in its core Inchcape business.

For further information, please contact:

Group Communications, Inchcape plc
[phone]

Investor Relations, Inchcape plc
[phone]

Hogarth Partnership Limited (John Olsen/Barnaby Fry)
[phone]


Notes to editors
Inchcape plc

1. Inchcape plc is a leading international automotive distributor and retailer,
with scale operations in Australia, Belgium, Greece, Hong Kong, Singapore and
the UK. The Group also has operations in a number of other markets, including
Eastern Europe, the Baltics, Russia and South America. In addition to growing
our core businesses, we are looking to develop scale operations in new and
emerging regions. We represent leading automotive brands and operate either a
retail, or a vertically integrated retail model (i.e. exclusive distribution and
retail), depending on the market. Our current key manufacturer partners are
Toyota/Lexus, Subaru, BMW, Mazda, Mercedes-Benz, PAG, Volkswagen, Audi and
Honda. Inchcape plc is quoted on the London Stock Exchange, with a market value
of £2.3 billion. For further information, visit us at www.inchcape.com
2. This statement is not intended to constitute a profit forecast for the
financial year ending 31 December 2007 or for any other period. In addition,
this statement should not be interpreted to mean that earnings per share (before
any one off costs and amoritsation of intangible assets) will necessarily be
greater than those for the relevant preceding financial period.





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