SAR - Speedy Hire

Schroders PLC
22 November 2001

                                                                    FORM SAR 5

Lodge with Company Announcements Office and Newstrack, if appropriate, and the
Takeover Panel. A copy must also be sent to the company the shares of which
are being sold.

Reference:                         Date of disclosure:     22/11/01

     DISCLOSURE UNDER NOTE 3 ON RULE 5 OF THE RULES GOVERNING SUBSTANTIAL
                       ACQUISITIONS OF SHARES ('SARs')

Date of sale     21/11/01

Sale of          Speedy Hire Plc                    (name of company)

                       Number of shares/ If rights over shares sold, as opposed
    (1)     Class of   rights over       to the shares themselves, specify
    voting shares      shares sold       nature of rights
    (e.g. ordinary
    shares)

Ordinary 5p shares          250,000 shares

                                    rights



                                  Resultant total holding of      Total
    (2)     Resultant total       rights over shares (and % of    percentage
    holding of voting shares (and total voting shares in issue)
    % of total voting shares in
    issue)


              6,177,123 (14.521%)                            ( %)  (14.521%)
                                                                      


(3)     Party making disclosure     Schroders plc

                                              Schroders plc on behalf of
        (4)     (a)     Name of person        institutional clients on a
        selling shares or rights over shares  non-beneficial basis
        and, if different, beneficial owner


             (b)     Names of any other
        persons acting by agreement or
        understanding



Signed, for and on behalf of the party named in (3) above

(Also print name of signatory) Brenda Versteeg (Compliance Reporting Assistant)

Telephone and extension number     020 7658 2962 (Direct line)



For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Tel. No.: 020
7638 0129.


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