Interim Management Statement

Speedy Hire PLC
17 July 2007

                                                                    17 July 2007


          Speedy Hire Plc ('Speedy Hire' or 'the Company' or 'the Group')

                          INTERIM MANAGEMENT STATEMENT


At the Annual General Meeting to be held at 11:00am today Chairman David Wallis
will give the following update on the Company's progress since the start of the
current financial year.

'I am pleased to report that the new financial year has started well with
overall first quarter revenue increasing by 30% on the comparative quarter last
year.  Both the Tool Hire and Equipment Divisions continue to perform well.
Tool Hire revenue increased by 15%, including like for like growth of 9.8%.  The
Equipment Division performed strongly with revenue increasing by 41%, and
utilisation remaining in line with previous periods at 70%.

The Group continues to gain market share following our long-established strategy
of expanding the network, consolidating the marketplace, and offering
high-quality service to customers.  The revenue increase is partly driven by the
full period impact of our two acquisitions last year, LCH Generators Limited and
Lifting Gear Hire Limited.

On 14 June 2007 we announced our intention to undertake our largest ever
acquisition, of Hewden Tools for a total consideration of £115m cash.  This will
be a transformational deal, consolidating Speedy Hire's position as the UK's
leading hire company.  We expect completion of the acquisition to be around 31
July 2007.  I am pleased to report we are making good progress towards this date
and are on track with the TUPE process, OFT submission, completion audit and
asset verification exercise.

We are now well positioned to offer our enlarged customer base an even higher
level of service with a larger fleet of assets for hire and a diversified
product range.

In conjunction with the proposed acquisition, the Group has secured a revised
debt facility of £325m, replacing the Group's existing facility of £210m.  The
new facility has been arranged for a five year term and with a margin broadly in
line with existing terms.  The Group also announced the intention to raise
approximately £54m (before expenses) through a placing of new ordinary shares,
equivalent to approximately 9.5% of the Company's existing issued share capital.
  The placing comprises two equal tranches, with proceeds from the first tranche
having been already received.  The remaining tranche is conditional upon
completing the acquisition.

At 30 June 2007, approximately £172m of the available bank facilities had been
drawn.  Following the completion of the Hewden Tools acquisition, the Group is
expected to have drawn approximately £260m, and gearing is expected to be in the
region of 113%.

Our major customers continue to report strong order books and the outlook for
the hire market remains positive.  We are confident, subject to any significant
change in the economic outlook, of reporting further progress for the Group
throughout the remainder of the financial year.


For further information:

Speedy Hire Plc                                         Hudson Sandler
Steve Corcoran, Chief Executive                         Wendy Baker
Neil O'Brien, Finance Director                          Kate Hough
Tel:  [phone]                                     Tel:  [phone]


                        Website:  www.speedyhire.plc.uk



Notes to Editors:

Speedy Hire is the UK's No.1 provider of tools and equipment for hire.  The
Company operates from over 350 depots throughout the UK.  The Group also
operates in the Republic of Ireland.

The Group's activities are the provision for hire of small tools, portable
accommodation, compressed air, pumps, lifting, material handling, survey and
measurement instrumentation and power generation equipment.



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