This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Gam duplicará su tamaño en un año tras la compra de Vilatel

GAM will double its size in a year after the purchase of Vilatel

18/07/2007

July 18, 2007

General Alquiler Maquinaria (Gam) has definitively closed the acquisition of 100% of Vilatel, Spanish company of platforms for rent. The purchase will allow brought forward to the year 2008 the purpose of billing under the strategic plan of the company Gam, which stood at EUR 300 million in 2010. The operation has been closed by 113,8 million euros, of which 44 million will be paid with shares of Gam from a capital increase of 2.264.121 titles without the preferential subscription right.

The purchase of Vilatel accelerates the strategy of diversification of business of Gam, given the strength of the learned society in the industrial sector and its practically zero presence in sectors residential and public works. The acquisition also helps to improve the geographical distribution of the income of Gam. Thus, the Group increases significantly its presence and market share in the Mediterranean area, where the company had so far implementation lower than in the rest of Spain.

Vilatel has a total of 14 distributed delegations by Alicante, Cadiz, Barcelona, Castellón, Ciudad Real, Girona, Lleida, Madrid Malaga, Murcia, Seville, Tarragona (company headquarters), Valencia and Zaragoza.

For Pedro Luís Fernández, President of Gam, "this purchase is a very important step in the strategy of the company's growth, both from the quantitative and qualitative point of view, and significantly increases our ability to provide a better and more complete service to our customers".

The agreement gives rise to a company to manage a park of 10,000 platforms. In terms of turnover and in regards to the generalist rental, Gam happens to occupy the 7th position of the European "ranking". Business platforms will be directed by family Marsal, until now owner of Vilatel, which has a great reputation and proven experience in the sector of machinery for rent. The family would hold approximately 7.3% of the capital of Gam once made the exchange of shares provided for in the agreement. According to Pedro Luís Fernández, "the high qualification of managers is for us an indispensable requirement every time that we make a purchase." "In this case, this is precisely one of the main assets that we have identified".