Trading Statement

Intermodal Resource Plc
06 October 2004



RNS Release

6 October 2004

                                 Trading Update

Intermodal Resource plc ('Intermodal' or 'the Company'), the transport equipment
rental company, today provides an update on trading following its admission to
trading on AIM on 31 August 2004.

The Company was established in December 2003 to be the holding company for Axis
Intermodal GmbH ('Axis'), a German swap body and container carrying road chassis
rental business and for its newly-formed UK operation Trailerent Limited
('Trailerent'), which provides rental and maintenance of road trailer equipment.

We are pleased to report that since joining AIM we have signed and renewed
several contracts with a number of major European logistics companies. These
successes we regard as endorsement of the quality of service provided by Axis.

Utilisation of the Axis swap body and chassis fleet has remained high throughout
the year and the continuing gentle up turn in the European economy augurs well
for the future.

The performance of Trailerent in the UK since its launch in April 2004 has also
been encouraging. The division is on target to achieve the budgeted fleet and
contractual commitments by the end of the year and sees its policy of protecting
its balance sheet by not keeping equipment beyond five years and safe guarding
the residual value as paramount. The result is a young fleet which, with
Trailerent's maintenance management programme, ensures low maintenance costs and
latest specification equipment, meeting our customers' required high standards.

Moreover, the infrastructure and management team is now in place enabling us to
grow the trailer fleet, and the working relationship with Europe's leading
trailer manufacturer, Schmitz Cargobull, continues to develop.

Robert Montague, Group Chief Executive of Intermodal Resource, said:

'We are encouraged by trading across both divisions to date and as we
anticipated, the transport logistics industry has been extremely receptive to
our partnership approach and the new contracts signed by Axis and Trailerent
endorse our confidence in the future.'

Enquiries:

Robert Montague                 Neil Boom/Jenny Leahy
Intermodal Resource plc         Gresham PR Ltd.
01993 883 148                   020 7404 9000

Simon Raggett/James Harris
Strand Partners Limited
020 7409 3494





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