Acquisition

Speedy Hire PLC
02 February 2006

                                                                 2 February 2006

                        Speedy Hire Plc ('Speedy Hire')


    Acquisitions of accommodation hire and survey equipment hire operations


Speedy Hire announces the acquisition of the Caledonian Safemaker hire business.
  Caledonian Safemaker hires temporary accommodation to customers in
construction and industry from 5 UK depots and has a rental fleet of
approximately 4,700 units.

Total consideration will be £13.7 million to acquire the shares and settle
outstanding debt.  In the year ended 31 March 2005, Caledonian Safemaker
generated an EBIT of £1.5 million and an EBITDA of £2.6 million from gross
assets of approximately £12.5 million.  Until recently, Caledonian Safemaker was
a trading division of Caledonian Building Systems Limited, which hived out the
business and assets of Caledonian Safemaker into a newly formed company prior to
the acquisition.

Following the acquisition, the Caledonian Safemaker depots will be incorporated
into Speedy Hire's existing accommodation hire business, Speedy Space Ltd,
increasing the geographical coverage of the network and enhancing access to key
geographical regions.

Speedy Hire also announces that it has strengthened its association with Mowlem
plc ('Mowlem') through the acquisition of their accommodation hire and survey
equipment hire assets for a cash consideration of £5.1 million.  The
accommodation hire fleet comprises approximately 1,000 units.

Following completion of the transaction Speedy Hire has entered into a five year
exclusive supply agreement to provide the hire of temporary accommodation and a
three year exclusive supply agreement to provide the hire of survey equipment to
Mowlem.

The existing trading agreement (consisting of other Speedy Hire products) which
was due to expire on 31 December 2006 has also been extended to 31 December
2008.

Steve Corcoran, Chief Executive said:

'We are very pleased to have acquired two well invested and maintained
accommodation fleets which will further enhance our ability to provide a high
quality service to our customers.  Both the Mowlem and Caledonian Safemaker hire
operations will integrate easily into our existing Speedy Space business.

'The acquisition of the Mowlem accommodation and survey assets accompanied with
the extension of the existing trading agreement clearly displays the strength of
the relationship that exists with Mowlem and is part of the continuing process
of generating supply chain efficiencies between the companies. I am delighted
that the relationships built over the past few years will not only continue but
will now develop even further.

'I am also pleased to welcome those employees who are joining Speedy as a result
of the acquisitions.'

                              -ends-


                             www.speedyhire.plc.uk

Speedy Hire Plc                                           Hudson Sandler
Steve Corcoran, Chief Executive                           Nick Lyon
Neil O'Brien, Group Finance Director                      James Benjamin
Tel: [phone]                                        Tel: [phone]


Note to editors:

Speedy Hire is the number one provider of equipment hire services in the UK,
operating from over 300 depots throughout the country.  The Group is focused
primarily on tool hire, with complementary businesses specialising in portable
accommodation, lifting equipment, surveying and measurement instruments and
compressed air and power generating equipment.



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