Ramirent - Company Announcement

RAMIRENT REINFORCES ACTION PROGRAM AND RESCINDS DIVIDEND PROPOSAL

RAMIRENT PLC  STOCK EXCHANGE RELEASE    MARCH 12, 2009 AT 1:25 PM 
RAMIRENT REINFORCES ACTION PROGRAM AND RESCINDS DIVIDEND PROPOSAL - MARKET 
DOWNTURN INTENSIFIED                                                            

- Group sales in January-February are down 26% compared to corresponding period 
previous year.                                                                  
- The Group is taking additional actions and reduces its workforce further by   
150 persons, in addition to the previously announced 600 persons.               
- The Board of Directors rescinds its dividend proposal and proposes that no    
dividend will be paid for the financial year 2008.                              

Based on the first two months of the year the company has revised its outlook   
for 2009. The demand for rental services has declined in Ramirent's operating   
markets, especially in the Baltics, Russia and Ukraine. Worsened fundamentals in
combination with a global risk aversion to the Eastern emerging markets have    
added to increasing volatility, credit contraction and a rapid decline in demand
for rental services. The Group realized a decline in Ramirent Europe East's     
sales of 60% in January-February compared to the previous year. Additionally,   
there is a marked contraction in the Nordic markets. The financial impact of the
decline is reinforced by a further weakening of the Nordic currencies as well as
of the Polish zloty.                                                            

The cost savings program initiated in December 2008 targeting annual fixed cost 
savings of EUR 50 million is progressing according to plan. However, due to the 
weak development in the first two months and a worsened outlook for 2009, the   
Group will reinforce its actions to adjust the cost structure.                  

Ramirent's CEO Magnus Rosén says: “2009 will be a challenging year and we are   
now launching additional actions. As part of these actions, we estimate to      
further reduce our personnel by at least 150 persons, adding to a total         
reduction of 750 persons or 20% of the Group's workforce compared to 2008.      
Investments in new capacity have already been halted and we will continue to    
right-size our fleet to optimize utilization, defend price levels and strengthen
our cash flow in order to amortize debt”.                                       

The Board of Directors has determined to rescind its previously announced       
dividend proposal of EUR 0.15 per share and will propose to the Annual General  
Meeting that no dividend be paid for the financial year 2008. The revised       
proposal is supported by owners representing 40 percent of the votes and share  
capital in Ramirent. The long-term dividend policy remains unchanged.           

Ramirent's Chairman Peter Hofvenstam says: “We understand the disappointment of 
our shareholders, but in this extraordinary market situation everyone needs to  
contribute. The Group is taking forceful actions to adapt to the rapid market   
decline, and 2009 will be difficult for the rental industry. However, the       
equipment rental business is structurally attractive in the long-term, and we   
are prepared to weather this downturn and continue our strategy of profitable   
growth.”                                                                        


Vantaa, 12.3.2009                                                               

RAMIRENT PLC                                                                    


Magnus Rosén                                                                    
President and CEO                                                               


FURTHER INFORMATION:                                                            
Magnus Rosén, President and CEO, tel. +358 20 750 2845,                         
magnus.rosen@ramirent.com.                                                      
Heli Iisakka, Chief Financial Officer, tel. +358 20 750 3248,                   
heli.iisakka@ramirent.com                                                       
Franciska Janzon, Director, Corporate Communications and IR, tel. +358 20 750   
2859, franciska.janzon@ramirent.com                                             


DISTRIBUTION:                                                                   
NASDAQ OMX Helsinki                                                             
The main media                                                                  
www.ramirent.com