ACE.L Regulatory News (ACE)

22 Mar 2005 07:01

Accident Exchange Group PLC22 March 2005 22 March 2005 Accident Exchange Group plc Agreement with Helston Garages Ltd ("Helston") Accident Exchange Group plc ("Accident Exchange"), the leading prestige vehiclereplacement company, has signed an agreement with Helston Garages Ltd for theprovision of credit hire and business support services to their customers in theWest Country. Helston is a privately owned franchised dealer group with 22dealerships, three bodyshop locations and a significant prestige customer base.The agreement will run for a minimum period of 15 months. The agreement signed today includes the provision by Accident Exchange ofreplacement Audi, BMW, Chrysler Jeep, Jaguar, Ferrari, Land Rover, Maserati,Mercedes Benz, Porsche and Volvo vehicles to Helston's customers, following roadtraffic accidents. In addition, Accident Exchange will provide assistance forthe customers of Helston's five Peugeot and one Volkswagen dealerships. In order to handle the increased volume of referrals expected, Accident Exchangehas made a minimum purchase commitment to the dealership for 50 prestigevehicles although this commitment may increase over the course of the agreement. Steve Evans, Chief Executive of Accident Exchange said: "We are absolutely delighted about this significant relationship win. HelstonGarages are a leading distributor of a wide range of prestige vehicles in theWest Country and we are thrilled to be extending our service offering to a widercustomer base. Building reciprocal long-term relationships with targetedstrategic partners has helped our rental fleet grow from 200 to 780 vehiclesover the past year and we are confident that this agreement helps underpin ourcurrent expectations for the growth in our fleet size through to 2006." Ends For more information please contact: Steve Evans Chief Executive, Accident Exchange Tel: 08700 116719 Jonathon Brill/Billy Clegg Financial Dynamics Tel: 020 7831 3113 Notes to Editors About Accident Exchange Accident Exchange was formed in 2001 to provide ABI (Association of BritishInsurers) approved car hire on credit to motorists of prestige cars involved innon-fault accidents. This information is provided by RNS The company news service from the London Stock Exchange