Pre Close Trading Statement

Northgate PLC
4 May 2004


4 May, 2004

Northgate plc


PRE-CLOSE TRADING STATEMENT, EXERCISE OF FUALSA OPTION AND NOTICE OF RETIREMENT
                                  OF CHAIRMAN


Pre-close trading statement

Northgate plc ('Northgate', the 'Group' or the 'Company'), the UK's leading
light commercial vehicle hire company, is today issuing an update on trading
ahead of its close period before final results.

Northgate's UK business continues to perform well and Fualsa, its Spanish rental
business, is slightly ahead of the Board's expectations. The outcome for the
Group for the full year is expected to be in line with current market
expectations. The Group's preliminary results for the year to 30 April 2004 will
be announced on 6 July 2004.

Exercise of Fualsa Option

As anticipated in the Chairman's Statement in our interim financial report in
January 2004, the Group exercised on 3 May 2004, its option to purchase a
further 40% of the equity in Fualsa, its Spanish vehicle rental business. The
consideration paid in exercising the option was €22.3m, the maximum payable
under the purchase contract. In addition, Northgate reached agreement with the
vendors to effect the early exercise of the option for the remaining 20% which
also took place on 3 May 2004. The consideration for the final 20% remains
payable in 2006 and will be determined using a multiple of 8.5 times the average
profits after tax for calendar years 2004 and 2005, subject to the maximum
consideration payable being €14.9m. Northgate now owns 100% of the equity of
Fualsa which will, therefore, be accounted for as a subsidiary with effect from
May 2004.

Notice of Retirement of Chairman and associated Board changes

Mr Michael Waring has advised the Board of Northgate that he wishes to stand
down from his position as Chairman of the Company by no later than the date of
the Company's AGM in 2005. Mr Waring has held the posts of Chief Executive and/
or Chairman of Northgate since 1985, when interests associated with him and his
family bought control of the Company, then known as Goode Durrant & Murray Group
plc. At that time, the market capitalization of the Company was around £19m
compared to its current market capitalization of around £400m.

The Board has resolved to reorganise its structure and responsibilities as
follows:

• Mr Ron Williams, currently Deputy Chairman and senior independent
director, will also become Chairman of the Nominations Committee. He will
however relinquish his chairmanship of the Remuneration Committee to Mr Jan
Astrand who was appointed to the Board in 2001.
• Mr Astrand, who has extensive business experience in Europe and is
fluent in Spanish and French, will become a non-executive director of
Northgate's Spanish operation, Fualsa.
• Mr Philip Rogerson, appointed to the Board in November 2003, will take
over as Chairman of the Audit Committee from Mr Williams following the
announcement of the preliminary results in July 2004.
• Mr Alan Noble will relinquish the title of executive deputy chairman,
but will continue as an executive director.
• Mr Steve Smith, Chief Executive; Mr Gerard Murray, Finance Director and
Mr Phil Moorhouse, Managing Director UK Rental; will all continue in their
current positions.

For further information, please contact:

Northgate plc 01325 467558
Steve Smith, Chief Executive
Gerard Murray, Finance Director

Hogarth Partnership Limited 020 7357 9477
Andrew Jaques
Tom Leatherbarrow

Notes to Editors:

Northgate rents light commercial vehicles and sells a range of fleet products to
businesses via a network of hire companies. Their NORFLEX product gives
businesses access to a flexible method to acquire as many commercial vehicles as
they require.

Further information regarding Northgate can be found on the Company's website:

www.northgateplc.com





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