NES Rentals Completes Traffic Safety and Studio Equipment Sale

Business Wire, Oct 3, 2007

CHICAGO -- NES Rentals Holdings, Inc., one of the largest aerial equipment rental providers in the country, announced today the completion of the sale of its Traffic Safety and Studio Equipment businesses to private equity investors Aperion Management, LLC and Falcon Investment Advisors, LLC. The proceeds from the sale will be used to reduce debt thereby strengthening the company's financial position and further cementing its standing as the leader in the aerial equipment rental industry.

Andrew P. Studdert, NES Rentals Chairman and Chief Executive Officer, stated, "We have continued to work toward solidifying NES Rentals' position as the leader in the aerial equipment rental space. To accomplish this we have streamlined the organization and strengthened our bottom line by selling non-core businesses. This will allow us to invest in the specific lift equipment that our customers require to get their jobs done, quickly and safely."

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.

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