TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Speedy Hire plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

 x

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification obligation:

 BT Pension Scheme Trustees Limited as trustee of the BT Pension Scheme. See Section 9 for further information.

4. Full name of shareholder(s) (if different from 3.):

 N/A

5. Date of the transaction and date on which the threshold is crossed or reached:

3 December 2009

6. Date on which issuer notified:

4 December 2009

7. Threshold(s) that is/are crossed or reached:

 6%

8. Notified details:

A: Voting rights attached to shares

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

 0016308

GB0000163088

ORD5P

 29,249,550

 29,249,550

 0

0

32,249,550

0.00%

6.235%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date

Exercise/ 
Conversion 
Period

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise 
price

Expiration 
date

Exercise/
Conversion 
period

Number of voting 
rights instrument 
refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

 32,249,550

6.235%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

BT Pension Scheme Trustees Limited is the parent undertaking of Britel Fund Trustees Limited, which is the parent undertaking of Hermes Fund Managers Limited. Hermes Fund Managers Limited is the parent undertaking of:

1. Hermes Equity Ownership Services Limited (voting rights held in this issuer: 0.027%)

2. Hermes Investment Management Limited (voting rights held in this issuer: 0.551%)

3. Hermes Focus Asset Management Limited (voting rights held in this issuer: 5.657%)

Please see Section 13 for further information.

Proxy Voting:

10. Name of the proxy holder:

 See Comment in Section 13.

11. Number of voting rights proxy holder will cease to hold:

 See Comment in Section 13.

12. Date on which proxy holder will cease to hold voting rights:

 See Comment in Section 13.

13. Additional information:

Hermes Equity Ownership Services Limited hold the voting rights under a standing proxy contained in service agreements for the provision of corporate governance services to various underlying clients.

Hermes Investment Management Limited hold the voting rights under a standing proxy contained in investment management agreements with various underlying clients, which includes all the shares owned directly by BT Pension Scheme.

All voting rights held on behalf of the above entities are aggregated for the purposes of DTR 5.2,1(a). The aggregation is made at the lower threshold of 3% and above because Hermes Equity Ownership Services Limited does not manage investments for the purposes of the investment manager exemption contained in DTR 5.1.5.

Hermes Focus Asset Management limited hold the voting rights as General Partner under a standing proxy contained in limited partnership agreements with various limited partnerships for the purposes of DTR 5.2.1 (h).

All voting rights held on behalf of the above entities are aggregated for the purposes of DTR 5.2.1(e).

This disclosure is made by BT Pension Scheme Trustees Limited, which is the ultimate parent undertaking for the purposes of DTR 5.2.1 (e).

14. Contact name:

 Suzana Koncarevic

15. Contact telephone number:

 01942 327 209