AGM Statement

Speedy Hire PLC
23 July 2003

                                                                    23 July 2003



Speedy Hire plc



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



'I am pleased to report that we have seen a 14% increase in total turnover
during the first 13 weeks of the financial year, with like-for-like tool hire
turnover growth of 12%.  This like for like increase is benefiting from a high
proportion of maturing depots.  Profitability to date is in line with
expectations.  Our customers remain busy with solid forward order books.



As at 30 March 2003, net debt and gearing had fallen to £53 million and 67%
respectively.  Since the publication of the annual report, Speedy Hire has
agreed improved banking arrangements.  The three year agreement increases the
Group's borrowing facilities to £100 million.  The favourable terms and greater
financial flexibility will help us maintain our growth through a combination of
greenfield development and acquisitions.



On 3 July 2003 we announced the acquisition of Kingfisher Hire and Sales, the
leading independent tool hire business in South Wales with six depots.  The
integration process with our existing South Wales depots has commenced and this
has given us a significant position in the region.



Provided that there is no significant change in the UK economy, Speedy Hire can
look forward to making further progress in the year ahead'.






Speedy Hire Plc                                      Hudson Sandler

John Brown, Chief Executive                          Nick Lyon/Wendy Baker

Neil O'Brien, Finance Director                       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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