AGM Statement

Speedy Hire PLC
24 July 2002

                                                                    24 July 2002



                                SPEEDY HIRE Plc

                          CHAIRMAN'S A.G.M. STATEMENT


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


At the Annual General Meeting  held in Haydock today, the Chairman David Wallis
said :


'As we stated in the annual report, the current year has started well against a
generally encouraging market background.  We are the number one tool hirer to
the UK construction industry and benefit from the breadth of our customer base,
which covers every aspect of the construction and support services sector.


The Jewson Tool Hire depots acquired in January have now been integrated into
the Speedy Hire network and are trading in line with budget.  Our priority is to
ensure that these depots, together with the 17 other greenfield depots opened in
the last financial year, continue to move towards Speedy Hire's expected levels
of turnover and profitability.  Once these targets have been achieved we will
revert to our more usual greenfield opening programme at around 20 new depots
per year.


I am pleased to report that activity throughout our market place remains strong.
We have seen a 20% increase in turnover during the first 13 weeks, and
like-for-like hire turnover growth of 5%.  Profitability to date is in line with
our budgets and, provided that there is no material change in the general
economic outlook, we continue to look forward to a year of further progress for
Speedy Hire.'





ENQUIRIES:


Speedy Hire Plc                                       Hudson Sandler
John Brown, Chief Executive                           Nick Lyon / Keith Hann
Neil O'Brien, Finance Director                        Tel:  [phone]
Tel:  [phone]





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