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Inchcape PLC (INCH)

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Thursday 08 February, 2001

Inchcape PLC


Inchcape PLC
8 February 2001

                                  Inchcape plc
            Inchcape sells its Mazda distribution Business in France

Inchcape plc today announced that it has concluded an agreement to sell its
Mazda distribution business in France.

The Mazda business is being sold to Mazda Motor Corporation. It is expected that
the disposal will be completed in early April 2001. The value of the
consideration, which is to be satisfied in cash, will be the net asset value of
the business as at completion. Based on management accounts information, the
business being sold incurred a small loss in 2000 and the value of net assets at
31.12.00 was approximately £10m.

Inchcape Group Chief Executive, Peter Johnson said, 'Our strategy is to
concentrate on businesses in core markets where we can generate sustainable,
scale returns and develop a strong direct customer relationship. Our Mazda
business in France does not fit with our strategy going forward'.

Jan Brentebraten, President of Mazda Motor Europe, said: 'This development is in
line with Mazda's strategy of taking control of distribution in those markets
where direct manufacturer involvement is most appropriate to maximise growth

Enquiries to Inchcape:
                 Helen Cartmell      0207 546 8328
                 Group Communications Manager, Inchcape plc

Enquiries to Mazda Motor Europe:
                 Tetsu Owari         00 49 2173 943 852
                 PR Manager MME

                 Peter Frater        00 44 1622 691747
                 PR Consultant, MME


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