RAMIRENT PLC STOCK EXCHANGE RELEASE MARCH 12, 2009 AT 1:25 PM RAMIRENT REINFORCES ACTION PROGRAM AND RESCINDS DIVIDEND PROPOSAL - MARKET DOWNTURN INTENSIFIED - Group sales in January-February are down 26% compared to corresponding period previous year. - The Group is taking additional actions and reduces its workforce further by 150 persons, in addition to the previously announced 600 persons. - The Board of Directors rescinds its dividend proposal and proposes that no dividend will be paid for the financial year 2008. Based on the first two months of the year the company has revised its outlook for 2009. The demand for rental services has declined in Ramirent's operating markets, especially in the Baltics, Russia and Ukraine. Worsened fundamentals in combination with a global risk aversion to the Eastern emerging markets have added to increasing volatility, credit contraction and a rapid decline in demand for rental services. The Group realized a decline in Ramirent Europe East's sales of 60% in January-February compared to the previous year. Additionally, there is a marked contraction in the Nordic markets. The financial impact of the decline is reinforced by a further weakening of the Nordic currencies as well as of the Polish zloty. The cost savings program initiated in December 2008 targeting annual fixed cost savings of EUR 50 million is progressing according to plan. However, due to the weak development in the first two months and a worsened outlook for 2009, the Group will reinforce its actions to adjust the cost structure. Ramirent's CEO Magnus Rosén says: “2009 will be a challenging year and we are now launching additional actions. As part of these actions, we estimate to further reduce our personnel by at least 150 persons, adding to a total reduction of 750 persons or 20% of the Group's workforce compared to 2008. Investments in new capacity have already been halted and we will continue to right-size our fleet to optimize utilization, defend price levels and strengthen our cash flow in order to amortize debt”. The Board of Directors has determined to rescind its previously announced dividend proposal of EUR 0.15 per share and will propose to the Annual General Meeting that no dividend be paid for the financial year 2008. The revised proposal is supported by owners representing 40 percent of the votes and share capital in Ramirent. The long-term dividend policy remains unchanged. Ramirent's Chairman Peter Hofvenstam says: “We understand the disappointment of our shareholders, but in this extraordinary market situation everyone needs to contribute. The Group is taking forceful actions to adapt to the rapid market decline, and 2009 will be difficult for the rental industry. However, the equipment rental business is structurally attractive in the long-term, and we are prepared to weather this downturn and continue our strategy of profitable growth.” Vantaa, 12.3.2009 RAMIRENT PLC Magnus Rosén President and CEO FURTHER INFORMATION: Magnus Rosén, President and CEO, tel. +358 20 750 2845, magnus.rosen@ramirent.com. Heli Iisakka, Chief Financial Officer, tel. +358 20 750 3248, heli.iisakka@ramirent.com Franciska Janzon, Director, Corporate Communications and IR, tel. +358 20 750 2859, franciska.janzon@ramirent.com DISTRIBUTION: NASDAQ OMX Helsinki The main media www.ramirent.com