NES Rentals Completes Strategic Realignment

Business Wire, Oct 18, 2007

NES Rentals Solidifies Position as the Leader in Aerial Equipment Rental Industry

CHICAGO -- NES Rentals Holdings, Inc., one of the largest aerial equipment rental providers in the country, has completed its strategic realignment to focus on the aerial equipment rental business. The strategy was to divest non-core businesses including tank, manned crane, traffic safety and studio equipment. This now allows NES to concentrate on providing aerial equipment to the industrial and construction sectors.

"Following our acquisition by Diamond Castle Holdings, the NES management team was driven to make the company a leader in the aerial equipment rental business," stated Andrew P. Studdert, NES Rentals Chairman and Chief Executive Officer. "Our strategy was to simultaneously grow our aerial business through investments and expansion and divest business units that didn't complement our new strategy. Within 14 months of the acquisition we achieved this significant business goal and consider ourselves to be the leader in the aerial equipment rental space."

In addition to the sale of its non-core business lines, NES Rentals has focused on expanding its core aerial equipment rental business by investing $100 million annually in new equipment since 2004 and the strategic opening of new branches in key markets. NES Rentals' most recent new branches include Panama City, Fla.; Glendale, Ariz.; Tucson, Ariz.; and Gulfport, Miss.

About NES Rentals Holdings, Inc.

NES Rentals Holdings, Inc. is one of the largest companies in the $31 billion equipment rental industry. The company specializes in renting aerial equipment to industrial and construction end-users. It rents and distributes new equipment for nationally recognized original equipment manufacturers. NES Rentals also sells used equipment as well as complementary parts, supplies and merchandise, and provides repair and maintenance services to its customers. The company is a leading competitor in many of the geographic markets it reaches with 80 locations in 30 states. For more information on NES Rentals, visit www.nesrentals.com.

About Diamond Castle Holdings, LLC

Diamond Castle Holdings, LLC is a private equity firm with $1.85 billion of committed capital under management. Founded in 2004 by five senior investment professionals from DLJ Merchant Banking Partners, Diamond Castle specializes in leveraged buyouts, growth capital and equity-like investments in both public and private companies. Diamond Castle targets investments in the following industry sectors: media and communications, energy and power, financial services, healthcare and diversified industries. Diamond Castle is located in New York, New York. For more information on Diamond Castle, please visit our website at http://www.dchold.com.

Forward-Looking Statements

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