Disposal

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 opportunities,' 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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Inchcape (INCH)
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