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Aggreko PLC Trading Statement

18 Jun 2003

Aggreko plc - the world leader in the supply of temporary power, temperature control and oil-free compressed air services - will be holding a conference call with analysts at 12.00noon today, to provide the following trading update. Additionally, Aggreko will hold meetings with analysts in the next few days prior to its close period, in respect of the 6 months to 30 June 2003.

Trading Update

Market conditions for Aggreko's European business have become challenging whilst
the North American business remains difficult. The International business continues to show growth.

The European business has experienced a continuation of difficult trading conditions in the French and German markets during the first half year, and additionally there was a sharp down-turn in the Dutch market in the second quarter. There has also been a significant reduction in large power projects for utilities, although turnover growth has been achieved elsewhere in the business. The overall level of turnover - currency adjusted - should be similar to the first half of last year but with lower profitability as a result of the change in business mix.

The turnover of the North American business for the first half will be at a broadly similar level to last year, on a constant currency basis and once the impact of the 2002 Salt Lake City Winter Olympics has been excluded. However, the continuation of the difficult market conditions experienced last year, coupled with the ongoing surplus of power equipment in North America, have caused further price erosion which has resulted in a fall in underlying profitability.

The International business has enjoyed continued growth in both turnover and profitability during the first half. Sales enquiries are at high levels and should enable the business to achieve satisfactory performance for the year as a whole.

Outlook

The summer months are always Aggreko's key trading period therefore, at this stage, it is difficult to quantify with any real certainty the final outcome for the year. However, it is not expected that market conditions in Europe and North America will show any marked improvement. Based on current projections, Aggreko's performance for 2003 is likely to be around 25% below that of 2002 which, on an underlying basis, would be a decline of around 15%.

For further information, please contact:

For further information and details of a conference call for analysts scheduled for 12.00noon today with Philip Rogerson and Angus Cockburn please contact Fiona Piper on 0207 379 5151.

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