Inchcape-Intertek agreement

Inchcape PLC 26 September 2002 26 September 2002 Inchcape announces Intertek agreement Inchcape plc, the international automotive services group, today announces that it has reached an agreement with Intertek Testing Services (ITS) in relation to claims arising from the sale of Inchcape Testing Services in 1996. Under this agreement Inchcape has paid ITS £14.7m* (US$22.75m) in full and final settlement of all claims, including any that may arise in the future. This payment has been fully provided for in prior years and reported earnings will not be adversely affected by this settlement. *Assumes US$1.55 = £1.00 Note to Editors Certain claims had been notified by ITS against Inchcape under warranties given in connection with the sale of Inchcape Testing Services in 1996. The principal source of those claims arose from the US Environmental Protection Agency's investigation into discrepancies that were identified in certain tests carried out at an ITS facility in the USA. That investigation resulted in criminal and civil actions against ITS Environmental, an ITS subsidiary. Those actions have now been settled with the governmental authorities. Inchcape, as an international automotive services group, provides quality representation for its manufacturer partners, a choice of channels to market and products for its retail customers and a range of business services for its corporate customers. Operating primarily in the UK, Greece, Belgium, Australia, Hong Kong and Singapore, its key partners are Toyota, Subaru, Ferrari, Jaguar and Land Rover. Inchcape's activities include exclusive Import, Distribution and Retail, Business Services, automotive E-commerce and Financial Services. For further enquiries, please contact: Group Communications, Inchcape plc 020 7546 0022 John Olsen/Tom Leatherbarrow, Hogarth Partnership Limited 020 7357 9477 For further information, visit us at www.inchcape.com This information is provided by RNS The company news service from the London Stock Exchange

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