McGrath RentCorp Announces Senior Management Promotions

Business Wire, Jan 7, 2005

LIVERMORE, Calif. -- McGrath RentCorp (Nasdaq: MGRC), a leading rental provider of modular buildings for classroom and office space, and test equipment for general purpose, communications and fiber optic needs, announced today that its Board of Directors elected Joe Hanna to Senior Vice President, Operations, and Richard Brown and Susan Boutwell to Vice President. Mr. Hanna will continue in his role as the Company's senior operations officer. Mr. Brown has served as Modulars Division head since 2002 and Ms. Boutwell as Electronics Division head since 2004.

Dennis Kakures, CEO of McGrath RentCorp, stated, "Joe continues to take on an increasingly key role in the day-to-day oversight of our business units. Richard and Susan are highly successful leaders of our rental businesses. The added depth to our officer ranks will serve us well. These elections signify their outstanding efforts on behalf of the Company, its employees and shareholders."

Mr. Hanna, 42, joined McGrath RentCorp in 2003 as Vice President, Operations. Before joining McGrath RentCorp, Mr. Hanna served in senior sales and operations management positions with SMC Corporation of America, a manufacturer and distributor of pneumatic and electrical components. Additionally, Mr. Hanna served as an officer in the U.S Army for 5 years and is a graduate of the U.S Military Academy at Westpoint in 1985.

Mr. Brown, 35, joined McGrath RentCorp in 1992. He has previously served in both sales and branch management positions for the Company's modular division. He earned a BA in Speech Communication from California State University, Northridge in 1992 and his MBA from Azusa University in 1998.

Ms. Boutwell, 50, is 23 year veteran of Technology Rentals & Services (TRS) acquired by McGrath RentCorp from CIT Group Inc. (NYSE: CIT) in June of 2004. She has served TRS in a number of senior executive roles including product, sales and operations management.

About McGrath RentCorp:

Founded in 1979, the Company, under the trade name Mobile Modular Management Corporation, rents and sells modular buildings to fulfill customer's temporary and permanent space needs in California, Texas and Florida. Mobile Modular believes it is the largest provider of relocatable classrooms for rental to school districts for grades K - 12 in California. McGrath RentCorp's majority owned subsidiary, Enviroplex, Inc., manufactures and sells classrooms directly to school districts in California.

The Company's TRS-RenTelco division rents and sells electronic test equipment and is one of the leading providers of general purpose and communications test equipment in North America.

For more information on McGrath RentCorp, visit www.mgrc.com