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Esanda acquires Australian business

News Release
December 5, 2001

Esanda acquires Australian business

Esanda Fleet Partners (EFP) has acquired Melbourne-based PL Lease Management Pty Ltd (PLLM) for an undisclosed sum.

PLLM is a privately-owned fleet management and leasing company with operations in Victoria, New South Wales, Queensland and Western Australia. It has a significant customer base of small-to-medium businesses.

The purchase brings to nearly 40,000 the number of vehicle units under lease with EFP in Australia and New Zealand. PLLM will grow EFP in Australia by a third of its current size says EFP New Zealand Marketing Manager Garth Stirrat.

Mr Stirrat says the acquisition is a sign of the commitment that EFP has to being a market leader in Australia and New Zealand.

“This acquisition is indicative of the confidence a growing market can bring and I think you can watch this space for further moves,” Mr Stirrat says.

He believes the acquisition puts EFP near the top if not the top position in Australasia in terms of units under contract. The enlarged Australian business ranks third in that market.

Mr Stirrat says the integration of the two businesses should be completed by the end of the year.

In New Zealand, EFP manages fleets for a range of clients in the construction, distribution, brewing and IT industries.

Esanda Fleet Partners is a member of the ANZ group of companies.


ends

Issued by Pead PR for Esanda Fleet Partners

Contacts:
Brent Knight, General Manager, Esanda Fleet Partners, Tel: 0-9-570 3900
Deborah Pead, Pead PR, Tel: 0-9-918 5550



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