Placing & Trading Update

Speedy Hire PLC
14 September 2005

                                                               14 September 2005

                                Speedy Hire Plc
                         ('Speedy Hire' or the 'Group')

                     Placing to raise c£15m & Trading Update

Placing of new ordinary shares

The Board of Speedy Hire announces that it is today placing 2,132,315 new
ordinary shares of 5p each (the 'Placing Shares') at a price of 710p per share
to raise approximately £14.8 million net of expenses (the 'Placing'). The
Placing represents approximately 5% of the current issued share capital of the
Company and is being made by Oriel Securities Limited ('Oriel Securities'),
Speedy Hire's broker.

In the last 14 months Speedy Hire has completed seven acquisitions for a total
consideration of £33 million, all of which were financed at the time from
existing resources. The funds raised through the Placing, together with the
Group's recently renewed banking facilities, will allow the Group to continue to
fund its programme of

greenfield site openings and bolt-on acquisitions, of which a number are under
review at any one time. Speedy Hire will continue to seek to achieve its
strategic objective of being number one or two in every sector in which it
operates.

Speedy Hire has today entered into a placing agreement with Oriel Securities
under which Oriel Securities has agreed to use its reasonable endeavours to
procure subscribers for the Placing Shares. The Placing is conditional upon,
inter alia, the admission of the Placing Shares to the Official List of the UK
Listing Authority (the 'Official List') and to trading on the London Stock
Exchange's market for listed securities (together 'Admission') becoming
effective by 8.00am on 20 September 2005 (or by such later time and date as
Oriel Securities and the Company may agree, but not later than 3.00pm on the 30
September 2005). The relevant applications having been made, it is expected that
Admission will become effective and dealings in the Placing Shares will commence
at 8.00am on 20 September 2005.

The Placing Shares will be issued credited as fully paid and will rank pari
passu in all respects with the Company's existing ordinary shares.

Trading update

The Board of Speedy Hire is also pleased to provide the following update on
trading in advance of its interim results for the six months to 30 September
2005.

The Group continues to make good progress. For the five months to 28 August
2005, total turnover increased by 24% and underlying like for like tool hire
turnover was up 9%.

Both the Tool and Equipment divisions are growing satisfactorily, performance
for the year is in line with management expectations. The Board is confident
that Speedy Hire has continued to win market share and that the business remains
on track to deliver another year of good growth.


Commenting on the Placing and the Trading Update, Steve Corcoran, Chief
Executive said:

'Since the 1 April 2004 Speedy Hire has completed seven bolt-on acquisitions at
a total cost of £33 million, which, together with greenfield site openings, have
added a further 45 branches to our network. These investments in Speedy's future
will enable us to continue to grow turnover in the coming years. I am delighted
with the result of the Placing and I am confident that the Group will continue
to take full advantage of the many opportunities before it.'

                                      -ends-

www.speedyhire.plc.uk

Enquires:

Speedy Hire Plc                                                  01942 720 000
Steve Corcoran (Chief Executive)
Neil O'Brien (Group Finance Director)

Oriel Securities Limited                                         020 7710 7600
Adrian McMillan
Natalie Fortescue

gcg hudson sandler                                               020 7796 4133
Nick Lyon
James Benjamin

Note to editors:

Speedy Hire is a leading provider of tool and equipment hire services to UK
contractors and builders, industry, utilities and the public sector, operating
from over 300 depots throughout the country.


                      This information is provided by RNS
            The company news service from the London Stock Exchange