Acquisition

Speedy Hire PLC
15 May 2006


                                                                    15 May 2006


                        Speedy Hire Plc ('Speedy Hire')

Acquisition of LCH Generators Limited, the UK's leading independent hirer of
temporary power systems

Speedy Hire is pleased to announce the acquisition of the entire issued share
capital of LCH Generators Limited ('LCH'), a UK based generator hire company
operating from 6 depots, from John Pirrie, James Pirrie and Glynis Pirrie. When
added to Speedy's existing power generation business, the combined operation
will have over 4,000 generators available for hire to service construction and
industrial customers throughout the UK.

Total consideration is £59.0 million, comprising £54.5million in cash and £4.5
million satisfied by the issue of 512,626 new ordinary shares  (the 
'Consideration Shares').  Included in the transaction price is £13.5m of debt
that Speedy Hire will assume on completion.

To finance the transaction, Speedy Hire negotiated increased bank facilities of
£210 million up from £150 million from its existing banking syndicate.

LCH has realised 20% CAGR in revenue over the past 5 years driven by a high
level investment in quality equipment, customer and product focus and expansion
of its depot network.  It has available for hire 2,400 generators and services
principally for construction and industrial customers.  LCH employs 196 staff at
five directly operated sites in Glasgow, Wigan, Coventry, London and Portsmouth,
plus an agency agreement based in Aberdeen that provides services to the off
shore market.

For the year ended 30 September 2005, the most recent audited period for LCH,
reported turnover was £21.1 million (2004: £14.9 million) and pre-tax profit was
£1.9 million (2004: £1.6 million), after charging non-recurring remuneration and
interest charges in the year of £2.1million.  As at 30 September 2005, LCH's
gross assets were £30.6million. Post year end, the significant growth
experienced in previous years has continued.

The acquisition of LCH is in line with Speedy Hire's stated strategic objective
of expanding all areas of its operations to become number 1 or 2 in each segment
of the hire market in which it operates.   The acquisition will accelerate the
development and formation of a specialist power generation business through the
integration of LCH and Speedy's existing generator fleet within Speedy Power.

Application has been made for the Consideration Shares to be admitted to the
Official List of the UK Listing Authority and to be traded on the London Stock
Exchange's market for listed securities.  The Consideration Shares, which will
rank pari passu in all respects with the existing shares in issue, have been
allotted to the vendors in consideration of the acquisition of LCH.  Admission
is expected to become effective on 18 May 2006.

Steve Corcoran, Chief Executive said:

'LCH has established itself as a leading provider of temporary power for hire in
the UK.  Its rapid growth has been driven by a combination of customer focus,
commitment to service and investment in a quality fleet.

The addition of LCH to Speedy's existing modern fleet will create a wider range
of generators for hire nationally, supported by a highly motivated management
team.

Customer service is at the forefront of the cultures of both LCH and Speedy Hire
and this will continue. I am pleased to welcome all employees of LCH and I look
forward to continued growth within the generator product category.'

                                    -ends-

                             www.speedyhire.plc.uk

Speedy Hire Plc                          Hudson Sandler
Steve Corcoran, Chief Executive          Nick Lyon / James Benjamin / Kate Hough
Neil O'Brien, Group Finance Director
Tel: [phone]                       Tel: [phone]

Note to editors:

Speedy Hire is the number one provider of equipment hire services in the UK,
operating from over 300 depots throughout the country.  The Group is focused
primarily on tool hire, with complementary businesses specialising in portable
accommodation, lifting equipment, surveying and measurement instruments and
compressed air and power generating equipment.



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