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Brambles Industries (BI.)

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Wednesday 02 January, 2002

Brambles Industries

Disposal

Brambles Industries PLC
1 January 2002





           BRAMBLES SELLS NORTH AMERICAN EQUIPMENT RENTAL BUSINESS





Brambles Industries today announced that it has completed the sale of Brambles
Equipment Services Inc. ('BESI'), its North American equipment rental
business, to National Equipment Services, Inc., a NYSE listed company, which
is engaged in the rental of speciality and general equipment to industrial and
construction end-users.



The sale values the BESI business at US$122 million, of which US$94 million
was paid in cash at closing, with the balance of the purchase consideration to
be paid to Brambles as BESI's trade receivables are collected. BESI had net
assets of approximately US$160 million at closing and reported earnings of
US$9 million (before interest and tax) for the fiscal year ending June 30,
2001.



The divestment of BESI is a further important step in the realisation of
Brambles' strategy to focus on its core businesses. It follows the
announcement in late December, 2001 of Brambles' agreement to sell Wreckair
Hire, its Australian equipment rental business. Both sales have been achieved
despite difficult market conditions globally, in the equipment rental
industry.



Completion of the divestment of BESI is the eighth in Brambles' current
divestment programme and will bring aggregate proceeds to approximately
A$1.25bn.







For further information contact:

London
Media              Rob Gurner, Financial Dynamics          +44 (0) 20 7831 3113
Investor and 
Other              Sue Scholes, Head of Investor Relations +44 (0) 20 7659 6012

                   

Sydney
All Enquiries      Ron Burke                               +61 (0) 2 9256 5255
                   Edna Carew                              +61 (0) 2 9256 5204