Acquisition

Speedy Hire PLC
28 July 2003


                                                                    28 July 2003


                                Speedy Hire Plc


                    Acquisition of Ashtead Plant's Big Air Division


Speedy Hire announces that it has acquired the business and certain assets of
Ashtead Plant Hire Company's Big Air Division (the 'Business') for a cash
consideration of £3.8 million, subject to asset verification.


The Business is a leading participant in the UK's portable high capacity, high
pressure compressed air market and operates from three depots.  Two are being
retained by the vendor, with their Big Air trade and assets being relocated to
existing Speedy Power depots.  The third depot, located in a previously
identified area for greenfield development, is being leased by Speedy Power and
will be fully integrated within its network.


For the year to April 2003, the Business' turnover and profits were
approximately £2.2 million and break-even respectively.  Its assets have been
acquired at their net asset value.


John Brown, Chief Executive commented 'Speedy Power is one of the Group's
specialist divisions and since its establishment in 2000, our strategy has been
to build a UK network offering power generation and compressed air equipment.
This bolt-on acquisition is an excellent fit with our existing business,
enhances our position as a leading operator in the UK high pressure air market,
and will be fully integrated within the wider Group.


This acquisition represents a significant step towards fulfilling Speedy Power's
growth plans for the current financial year.  As far as the wider Speedy Hire
Group is concerned, we continue to assess in-fill acquisitions and greenfield
sites and are planning to add between 20 and 30 new depots in total during the
current financial year'.



                                     -ends-


Speedy Hire Plc                                      Hudson Sandler
John Brown, Chief Executive                          Wendy Baker
Steve Corcoran, Chief Operating Officer              Tel:  [phone]
Tel:  [phone]

                        Website:  www.speedyhire.plc.uk



Notes to editors:



Speedy Hire is a leading provider of equipment hire services to UK contractors
and builders, industry, utilities and the public sector, operating from over 250
depots throughout the country.  The Group is focused primarily on tool hire,
with complementary businesses specialising in portable accommodation, surveying,
lifting and power generation equipment.


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