Aviva PLC
19 September 2005
News release
19 September 2005
AVIVA SUBSIDIARY LEX VEHICLE LEASING TO MANAGE HSBC FLEET
Aviva plc ('Aviva') announces that its subsidiary Lex Vehicle Leasing Limited
('Lex'), the UK's leading contract hire company, has signed an agreement to
manage the vehicle leasing and fleet operations of HSBC Vehicle Finance (UK)
Limited, a wholly owned subsidiary of HSBC Bank plc.
This transaction remains subject to regulatory approval.
Under the agreement, which will be effective from 1 November 2005, HSBC's £440
million vehicle fleet will transfer to Lex. HSBC will continue to own and
manage customer relationships, while Lex will provide the supporting customer
service and vehicle management. Around 200 customer service roles will transfer
to Lex as part of the agreement.
- ends -
Enquiries:
Media
Sue Winston, head of group media relations +44 (0)20 7662 8221
Erik Nelson, media relations manager +44 (0)1603 682264
Rob Bailhache, Financial Dynamics +44 (0)20 7269 7200
Analysts
Charles Barrows, investor relations director +44 (0)20 7662 8115
Nicole Marques, investor relations manager +44 (0)20 7662 8302
Notes to editors:
• Aviva is the world's sixth-largest insurance group based on gross
world-wide premiums and market capitalisation (at 31 December 2004); it is one
of the leading providers of life and pensions in Europe and has substantial
businesses in other markets around the world.
• Aviva's main activities are long-term savings, fund management and
general insurance, with world-wide total income of £40 billion and assets under
management of £280 billion at 31 December 2004.
• The Aviva media centre at www.aviva.com/media includes images, company
and product information and a news release archive.
This information is provided by RNS
The company news service from the London Stock Exchange
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