Cramo Plc Investor news 24 June 2008, at 9.15 am Finnish time (GMT+2) Cramo expands in Norway through outsourcing deal with JM Byggholt Equipment rental company Cramo AS, the Norwegian wholly-owned subsidiary of Cramo Plc, has signed an agreement whereby Cramo takes over the rental operations of JM Byggholt AS, including all rental assets and the staff of 12 persons. Related to the deal is a seven year cooperation agreement which makes Cramo the main equipment rental supplier to JM Byggholt's operations. JM Byggholt's revenues in 2007 was 212.5 million Euro. Cramo AS is one of Norway's leading equipment rental companies with a complete portfolio of rental products and services offered through 29 depots all over the country. JM Byggholt is among the ten largest construction companies in the country with a major market share in the capital area, and is represented also in Stavanger, Bergen, Skien and Tönsberg. Cramo's Norwegian operations have grown rapidly the last few years through a combination of depot openings in major industrial areas and acquisitions. - Growing in partnership with important customers is in many ways the ideal way to expand, says Finn Lökken, Cramo AS managing director in a comment. In this case it gives us immediate access to the competence and existing customer relationships of JM Byggholt's rental personnel as well maintained fleet of modern, efficient rental equipment. Furthermore it gives us a quick start in the scaffolding area, where JM Byggholt has large needs. Cramo, on the other hand can provide JM Byggholt access to a complete range of rental solutions all over Norway. - By outsourcing our rental division to Cramo we expect to lower our cost for machinery and equipment and gain access and efficiency in the supply of equipment to support the continued growth of our core business, says Thor Olaf Askjer, managing director, JM Byggholt. - Cramo's explicit goal is to be among the two leading equipment rental companies in all the markets where it operates. This agreement with JM Byggholt is strategic for Cramo Norway to secure that position, says Vesa Koivula, CEO of the Cramo Group. JM Byggholt's rental operations, located in Baerum outside Oslo, will be integrated under the Cramo brand, creating the market leading rental operation in that area. CRAMO PLC Vesa Koivula President and CEO Further information Vesa Koivula, President and CEO, tel. +358 40 510 5710 Finn Lökken, Managing Director Cramo AS (Norway), +47 23 37 55 70 Distribution OMX Nordic Exchange Helsinki Major media www.cramo.com Cramo is a service company specialising in construction machinery and equipment rental and rental-related services, as well as the rental and sale of modular space. As one of the industry's leading service providers in the Nordic countries and Central and Eastern Europe, Cramo operates in eleven countries with some 300 depots. With a group staff of 2,300, Cramo's consolidated sales for 2007 totalled EUR 496 million and its shares are listed on the OMX Nordic Exchange, Helsinki. For further information, please visit www.cramo.com. For more information about the Norwegian operation see www.cramo.no