Acquisition

RNS Number:3919L
Speedy Hire PLC
22 April 2005

                                                                   22 April 2005

                        Speedy Hire Plc ("Speedy Hire")

  Acquisition of Birse Group plc's Temporary Accommodation Hire Operations and
                  Establishment of a Five Year Supply Contract


Speedy Hire announces the acquisition of the business and certain assets of The
Cabin Company Limited ("TCCL"), a wholly owned subsidiary of Birse Group Plc,
for a maximum cash consideration of #6.25 million.  TCCL is a North West based
temporary accommodation hire business operating a hire fleet of approximately
950 portable accommodation units. The business hires both to Birse Group and to
third party customers in the construction and civil engineering sectors
throughout the UK.


The acquisition will be fully integrated into Speedy Space and includes a
five-year exclusive national supply and services agreement for temporary
accommodation with Birse Group. TCCL has particular expertise in providing
customers with added-value site set-up services and extends the service offering
of Speedy Space.  The acquisition will improve the Group's profile in the Civil
Engineering sector and will also establish a presence for Speedy Space in
Manchester.


Turnover and operating profit attributable to TCCL for the year ended 30 April
2004 were approximately #4.8 million and #0.7 million respectively.  As at 31
October 2004, Birse Group's net book value of the net assets being acquired was
#4.6 million.


The acquisition is subject to approval by Birse Group shareholders.  Completion
is expected to take place in early May.


Steve Corcoran, Chief Executive said:


"This acquisition will provide Speedy Space and other Group businesses with
access to a number of new customers and is consistent with our strategy of
pursuing national, long-term agreements with major construction companies.  It
will enhance Speedy Space's ability to provide a national service and
strengthens our presence in Manchester."

                             www.speedyhire.plc.uk

                                     -ends-


Speedy Hire Plc                                        gcg hudson sandler

Steve Corcoran, Chief Executive                        Nick Lyon/James Benjamin

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

Tel:  [phone]


Note to editors:

Speedy Hire is a leading provider of tool and equipment hire services to UK
contractors and builders, industry, utilities and the public sector, operating
from over 300 depots throughout the country.


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