Vp plc The Equipment Rental Specialist Interim Results For the six months ended 30 September 2005

1. Vp plc The Equipment Rental Specialist Interim Results For the six months ended 30 September 2005

2. Agenda • Highlights : • Jeremy Pilkington – Chairman • Financial Review : • Mike Holt – Group Finance Director • Business Review : • Neil Stothard – Group Managing Director

3. An Excellent Start • Underlying PBT +19% to £5.9m – entirely organic, no contribution from acquisitions • Group PBT +11% to £5.5m • EPS +10% to 8.96p • ROCE increased to 17% • Interim dividend lifted 11% to 1.95p

4. An Excellent Start • Hire Station in profit - £0.9m v p.y. £0.3m loss • 3 significant acquisitions completed : Pivotal Services Group – July : £4.5m : TPA – November : £11.5m + 3 year earn-out : Dudley Vale – November : £3.5m • New banking facilities

5. Financial Review Mike Holt Group Finance Director

6. Financial Highlights *Pre Pivotal one-off costs

7. Earnings per share and Dividends

8. Revenue(£m)

9. Profit Before Interest and Tax (£m) Restated for IFRS

10. Return on Capital Employed (%) % H1 Restated for IFRS

11. Dividend / Earnings (pence per share) H1 H1 Basic EPS

12. Balance Sheet

13. Operating Cash Flow

14. Cash Flow

15. Acquisitions Pivotal Services : - initial cost £4.5m - adjusted cost £3.9m Trax Portable Access : - initial cost £11.5m - deferred £7.9m Dudley Vale : -cost £3.5m

16. Net Debt

17. Loan Facilities • Existing loan facilities replaced by a new loan facility: - Five year facility (previously 3 years) - £45m facility (previously £8m) - Club deal (previously single bank) • New facility provides further leverage to fund future acquisitions

18. Business Review Neil Stothard Group Managing Director

19. Segmental Analysis *Pre-Pivotal one-off costs

20. Groundforce • Groundforce Shorco • Piletec Dudley Vale • Stopper Specialists • Survey Technology Excavation support systems and specialist products for the water, civil engineering and construction industries

21. Groundforce

22. Groundforce • Market Leader in ground support systems • Core shoring demand remained good • AMP4 delay affecting specialist divisions • Acquisition of Dudley Vale - November 2005 • Continuing fleet rationalisation programme • New products introduced e.g. Formwork • Division remains well placed to embrace AMP4 driven demand

23. UK Forks Rough terrain material handling equipment for industry, residential and general construction

24. UK Forks *Including new operating lease commitments

25. UK Forks • Unique service offering – attracting customers • Progress in housebuilding and general construction • Regional and national successes • Revenue growth has leveraged structure • Fleet growth to over 1,200 machines • ROCE continues to improve • Markets stable but remain very competitive

26. Airpac Oilfield Services • Aberdeen • Great Yarmouth • Singapore Equipment and service providers to the international oil and gas exploration and development markets

27. Airpac Oilfield Services

28. Airpac Oilfield Services • Solid performance • Strong demand from North Sea – well testing and rig maintenance • International project activity quieter but improving • Product expansion • Geographic growth opportunities remain • Market prospects remain positive

29. Hire Station • Hire Station • ESS Safeforce • Lifting Point Tools and specialist products for industry and construction

30. Hire Station *Pre Pivotal one-off costs £0.4m

31. Hire Station • Substantial profit turnaround after prior year losses • Management actions bear fruit • Key account wins aid revenue growth • Efficient cost structure in place • Investment in core products • One Call central hire desk complete

32. Hire Station • Specialist Products further recovery • Pivotal acquisition key development • ESS Safeforce created – market leader • Confined Space Entry training • Potential remains for further improvement overall

33. Torrent Trackside Portable rail infrastructure equipment, lighting and related services for the railway renewals and maintenance industry

34. Torrent Trackside

35. Torrent Trackside • Remains a quality business • Network Rail maintenance plant contract impact • Maintenance activities continue as secondary provider • Renewals remains stable • Further progress with LUL • Product expansions/further opportunities • Market remains flat

36. ACQUISITIONS

37. TPA Portable roadway systems, bridging, fencing and barriers

38. TPA • Acquired 4 November 2005 • Portable aluminium roadways • Fencing and barriers • Events, construction, rail and power transmissions markets • Experienced management team • Market opportunities remain strong • Business positioned for further growth • Separate trading division of Vp

39. Pivotal Services Group • Acquired July 2005 from Babcock • Safety equipment rental sales and maintenance • Confined Space Entry Training • Integration with Safeforce, trading as ESS Safeforce • Health & Safety and Management Development training • Now trading as Pivotal Performance

40. Dudley Vale • Acquired 25 November 2005 from GE • Rental and sale of piling hammers and pile breakers • Merged with Piletec division of Groundforce • Trading as Piletec Dudley Vale

41. Summary • Period of further profit improvement – all organic • Business markets varied, but generally positive • Delivering on growth strategy with acquisitions • Further opportunities for growth will be pursued • New banking facilities in place • Finances remain in excellent shape • Platform set for coming year • Continuing to deliver value to shareholders

42. Total Shareholder Return