AGM Statement

Northgate PLC
10 September 2002

10 September 2002


                                 Northgate plc

                             AGM Trading Statement


Northgate plc ('Northgate', the 'Group'), the UK's leading commercial vehicle
hire company, held its AGM today.  Michael Waring, Chairman of Northgate, made
the following statement:


'I am pleased to report that trading in the first four months of the financial
year is in line with our expectations.  Our core UK business has once again
proved resilient in the face of economic uncertainty and remains on course to
achieve the targets set out in our Strategy for Growth, including the doubling
of our UK  business between 1999 and 2004.


'As announced on 17 July 2002, Northgate has made its first investment in
continental Europe with the purchase of an initial 40% stake in Fualsa, one of
the largest Spanish commercial vehicle hire companies. Northgate has the option
to purchase the remainder of Fualsa's share capital over the next four years.  A
number of senior Northgate management have already been transferred to Fualsa on
a permanent basis and trading for the first two months since the investment is
in line with our forecasts.


'As mentioned in our results for the year ending 30 April 2002, Northgate has
been looking to expand into continental Europe for some time.  The market for
vehicle rental in continental Europe is characterised by lower penetration rates
than in the UK and is highly fragmented. In addition, the Spanish market is one
of the fastest growing in Europe.


'We look forward to a satisfactory outcome for the Group for the remainder of
the year.'

                                    - Ends -



For further information, please contact:


Northgate plc                                       Tel:  [phone]


Steve Smith, Managing Director
Phil Moorhouse, Finance Director


Hogarth Partnership Limited                          Tel:  [phone]

Andrew Jaques
Tom Leatherbarrow


Notes to Editors


Information on Northgate plc


Northgate rents light commercial vehicles to businesses from a network of hire
companies throughout the UK and Ireland.  Northgate has a fleet of around 42,000
units and operates from 63 rental sites.  Their NORFLEX flexible fleet hire
product gives businesses access to a flexible and risk-free method to acquire as
many commercial vehicles as they require.


Northgate's turnover for the year ended 30 April 2002 was £277.8 million.  It is
traded on the London Stock Exchange and has a market capitalisation of some £270
million.


Further information regarding Northgate can be found on the Company's website:
http://www.northgateplc.com


Information on Fualsa


Founded in 1981, Fualsa, one of the largest van rental companies in Spain, was
wholly owned by members of the Acebes family before the investment by Northgate.
Fualsa had sales in the twelve-month period ended 31 December 2001 of €37.9
million (£24.2 million) and profits before tax of €4.7 million (£3.0 million).
Net assets as at 31 December 2001 were  €17.8 million (£11.4 million).


Fualsa rents light commercial vehicles and cars using 'Renting Abierto' (Open
Renting), non-contractual long-term hire arrangements similar to Northgate's '
Norflex' product, principally to customers in the construction industry.  Its
current fleet size stands at around 10,000 vehicles, of which approximately
6,200 are vans.  Fualsa operates from headquarters in Madrid and further
locations in Barcelona, Seville, Valladolid, Valencia and Zaragoza.


Note: Euro conversion rate used is £0.6319 to 1 Euro.


                      This information is provided by RNS
            The company news service from the London Stock Exchange