Statement re Banking Support

Ashtead Group PLC
15 May 2002


ASHTEAD GROUP PLC RECEIVES UNANIMOUS BANKING SUPPORT

Ashtead Group PLC is pleased to announce that its banking group has unanimously 
approved the proposed revisions to the covenant package relating to its US$825
million long-term finance facility.  While the Group has been in full compliance
with its existing covenants, the agreed revisions provide greater flexibility in
the future.  The second half has seen a reduction in debt levels and the Board
anticipates a significant paydown of debt over the next two years from normal
cashflow.

Overall, Group revenues for March and April, the last two months of the trading
year, were in line with expectations and subject to unforeseen circumstances
the Board reaffirms its previous statement that it expects to report a broadly
breakeven adjusted pre-tax result for the second half.

The Group expects to announce its full year results on Tuesday 9 July.

Contacts:   George Burnett         Chief Executive         01372 362300
            Ian Robson             Finance Director
            Andrew Grant           Tulchan Communications  0207 353 4200
            Nigel Fairbrass


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