Statement re Ferrari/Maserati

Inchcape PLC
25 August 2004


25 August 2004


   Ferrari Maserati announce change to their existing import and distribution
                               business in the UK

From 1 October 2004 these activities, which are currently managed by Maranello
Concessionaires Ltd, a subsidiary of Inchcape plc, will be transferred to
Ferrari Maserati UK Ltd, a Ferrari Maserati Group company.

This change is in line with the Ferrari Maserati Group's strategy of managing
its key markets directly and follows recent changes made to its Western European
operations. Combined with its already well established North American, German
and Swiss subsidiaries, this latest development places the Ferrari Maserati
Group in direct charge of its distribution business in major markets.

As part of the continuing partnership with the Ferrari Maserati Group, Inchcape
plc will continue to manage the spare parts, including classic parts, business
until 30 September 2005 and, importantly, will continue to retail Ferrari and
Maserati cars through Maranello Sales Ltd.

In November 2003 Maranello Sales Ltd increased its retail footprint with the
Ferrari Maserati Group to three showrooms, which together account for c. 35.0%
of the total UK sales for these brands. In addition to its flagship site, Tower
Garage, in Surrey, Maranello Sales Ltd now also has dealerships in Sevenoaks and
St. Albans.

Robert Hazelwood, Managing Director of Maranello Concessionaires Ltd said:

'We look forward to further development and progress in our retail business with
these prestigious brands.'

Jean Todt, Managing Director of Ferrari SpA commented:

'Ferrari and the UK are bound by the passion of our clients for the prancing
horse, and the world of sports cars. By directly managing Ferrari and Maserati
in the UK, we are able to build on the first class customer support delivered by
Maranello Concessionaires Ltd.'

Martin Leach, Chief Executive of Maserati SpA commented:

'The UK market is a key growth area for Maserati worldwide. New models, such as
the Quattroporte, and our return to GT racing with the MC12 will further raise
the profile of the Trident and power the development of the brand.'


- Ends -


Notes to editors

For further information, please contact:

Maranello Concessionaires Ltd (Al Clarke)
[phone]

Inchcape plc (Emma Woollaston)
[phone]

Hogarth Partnership Limited (Tom Leatherbarrow)
[phone]

Inchcape, 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. Operations are focused on the UK, Greece, Belgium,
Australia, Hong Kong and Singapore. Inchcape's activities include exclusive
Import, Distribution and Retail, Business Services, automotive E-commerce and
Financial Services. Our key manufacturer partners are Toyota/Lexus, Subaru,
Ferrari/Maserati, BMW, the Premier Automotive Group of Ford, Mazda,
Mercedes-Benz and Volkswagen.


For further information, visit us at www.inchcape.com


                      This information is provided by RNS
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