Accident Exchange Group PLC
07 July 2005
7 July 2005
Accident Exchange Group Plc
Agreement with Hartwell plc ('Hartwell')
Accident Exchange Group Plc ('Accident Exchange' or the 'Company'), the leading
prestige vehicle replacement company, has signed an agreement with Hartwell for
the exclusive provision of credit hire, accident management and business support
services to all of its dealerships and underlying customer base. Hartwell is a
privately owned UK franchised dealer group.
The agreement includes the provision by Accident Exchange of vehicle replacement
for Hartwell's customers following road traffic accidents, and marks the
Company's first significant move in to the mainstream credit hire market place.
In order to handle the increased volume of referrals expected, Accident Exchange
intends to increase their vehicle fleet by 270 primarily mainstream vehicles
although this number may increase dependent on referral volumes.
The Company's vehicle fleet stands at 1,083 today, up from 1,029 last reported
on 10 June within the Company's preliminary announcement of results for the year
ended 30 April 2005. The Company's AGM is scheduled for 21 July 2005 on which
day a trading update will be given.
Steve Evans, Chief Executive of Accident Exchange said:
'We are absolutely delighted about extending our services within Hartwell. We
have already worked successfully with a small number of Hartwell dealerships and
we take this significant contract extension to be both an endorsement of our
business support and service proposition and of our high levels of customer
For more information please contact:
Chief Executive, Accident Exchange
Tel: 08700 116719
Group Finance Director, Accident Exchange
Tel: 08700 053649
Jonathon Brill/Billy Clegg
Tel: 020 7831 3113
Notes to Editors
About Accident Exchange
Accident Exchange was formed in 2001 to provide ABI (Association of British
Insurers) approved car hire on credit to motorists of prestige cars involved in
non-fault accidents. The Company currently operates a fleet of 1,083 vehicles.
This information is provided by RNS
The company news service from the London Stock Exchange