Trading Statement

Intermodal Resource Plc
20 January 2006


20 January 2006

                Intermodal Resource plc ('Intermodal Resource')

                                 Trading Update

Intermodal Resource, the swapbody, road trailer and truck rental group, issues
the following trading update relating to the second half of the financial year
ending 31 December 2005 and ahead of the Group's preliminary results.

We are pleased with the progress the Group has made over the period. We have
continued to focus on building our rental business in the UK and Europe and
continue to take advantage of the growth opportunities in our market place.

Axis Intermodal, our German subsidiary, has seen utilisation levels increase to
92.5% at the year end and has continued to successfully renew long term rental
contracts. From a Group view the weakening in the exchange rate of the Euro over
the year has had a marginal impact on Group turnover and hence profits.

In July 2005 we completed the acquisition of Tailored Hire Limited, based in the
North West of England. The addition of truck rental services has been well
received by our clients, and we are confident that we will continue to see the
full benefits of the acquisition of THL in the coming financial year. In order
to fully integrate THL and to benefit from its full potential we decided to
recruit additional staff which we had not anticipated at the time of
acquisition.

In the UK, Trailerent continues to expand and we are encouraged by its
increasing development and level of introductions. We have continued to invest
in infrastructure and marketing with a view to further establishing the brand.
Client interest levels are high, though the conversion rate of prospects into
contracts is proving slower than expected, such that a number of contract wins
expected during 2005 have yet to be signed.

The UK rental fleet of trucks and trailers has increased from 12 to 505 during
2005 and we are pleased to report that we have secured a number of additional
new contracts since the year end.

As a consequence of the movement in the exchange rate, additional staff costs
and delays in contracts we expect the results for the financial year ended 31
December 2005 to be below market expectations. However as a result of the
additional expenditure we firmly believe Intermodal Resource is now better
placed to take advantage of opportunities as they arise and we anticipate an
encouraging outcome for 2005. Looking ahead, the Board remains confident that
the Group will continue to increase profits strongly in 2006.

Enquiries:

Robert Montague
Intermodal Resource plc
Tel: [phone]



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