Repatriation of Funds

Inchcape PLC
15 December 2000
  

INCHCAPE PLC - PERMANENT REPATRIATION OF £100M TO THE UK

As previously highlighted the Inchcape Group has been actively pursuing the
permanent repatriation to the UK of c. £100m held in Holland following the
disposal of the company's non Motors businesses during 1999.  The Group can
now confirm that permanent repatriation has been achieved at nil tax cost. 
This will lower the Group's effective interest rate and tax charge, the impact
being an uplift in earnings of c. £2-3m per annum with effect from 2001.

Alan Ferguson
Group Finance Director