Acquisition

RNS Number:0927N
Speedy Hire PLC
03 July 2003

                                                                     3 July 2003



                                Speedy Hire Plc

                 Acquisition of South Wales Tool Hire Business


Speedy Hire announces that it has acquired the business and certain assets of
Kingfisher Hire and Sales Limited ("Kingfisher").  Consideration was #1.4
million and has been settled by a cash payment of #1.0 million on completion
using existing banking facilities and by Speedy Hire taking on the debts of #0.4
million from Kingfisher.  Goodwill arising on the acquisition will be
approximately #0.3 million.

Kingfisher is the leading independent tool hire business in South Wales,
operating from six well located depots and employs 31 people.  Gary Derraven,
Kingfisher's Managing Director, will become Speedy Hire's Regional Director
(South Wales).

For the year to March 2002, Kingfisher's turnover was #2.8 million.

John Brown, Chief Executive commented "This is an excellent acquisition which
increases Speedy Hire's number of depots in South Wales to 11.  Kingfisher has a
solid reputation and has established strong relationships with its customers.

We continue to look for infill acquisitions and greenfield sites so as to
improve even further the service we can offer our national and local clients".


                                     -ends-




Speedy Hire Plc                                             Hudson Sandler

John Brown, Chief Executive                                 Nick Lyon/Wendy Baker

Neil O'Brien, Group Finance Director                        Tel:  [phone]

Tel:  [phone]



                        Website:  www.speedyhire.plc.uk



Note to editors:



Speedy Hire is a leading provider of equipment hire services to UK contractors
and builders, industry, utilities and the public sector, operating from over 250
depots throughout the country.  The Group is focused primarily on tool hire,
with complementary businesses specialising in portable accommodation, surveying,
lifting and power generation equipment.




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