RAMIRENT PLC         INTERIM REPORT   9.5.2008 at 8:00 a.m.             





RAMIRENT GROUP'S INTERIM REPORT JANUARY - MARCH, 2008                           



GROWTH CONTINUED IN A MORE CHALLENGING MARKET ENVIRONMENT                       



FIRST QUARTER 2008 HIGHLIGHTS                                                   



- Ramirent net sales increased by 18.7% to EUR 162.1 (1-3/2007:136.6) million   

- Operating profit before depreciations (EBITDA) increased by 12.0% to EUR 52.1 

(46.5) million                                                                  

- Operating profit (EBIT) increased by 1.5% to EUR 29.5 (29.0) million,         

including a capital gain of EUR 1.2 million                                     

- EBIT-margin of 18.2% (21.3%)                                                  

- Profit for the period decreased by 2.9% to EUR 19.5 (20.1) million            

- Earnings per share of EUR 0.18 (0.19)                                         

- Gross capital expenditure was EUR 93.0 (74.0) million                         

- Net debt of EUR 292.0 (208.0) million and gearing of 81.3% (73.1%)            

- Return on invested capital (ROI) of 28.6% (28.5%)                             

- For the full-year 2008, Ramirent estimates that the net sales and profit      

before taxes will grow compared to the last year, but it will be challenging to 

fulfil the financial target of 15 per cent growth in earnings per share         

- Ramirent's CEO Kari Kallio will retire in 2009                                



COMMENTS BY CEO KARI KALLIO                                                     



” The development of our operations in the first quarter of 2008 was more or    

less according to our own expectations. The growth in group net sales continued 

and profitability remained at an acceptable level. Compared to the previous     

year, which was exceptionally strong, the year started off at a lower level. The

main reasons were a weaker market situation in some of our countries,           

seasonality, as well as fewer working days compared to previous year.           



The market development differs between the Ramirent countries. Good growth      

continued in Finland, Sweden and Europe Central, where our Polish and Czech     

operations showed the strongest growth. In Norway, some of our main regions had 

a lower market demand compared to last year. In Europe East, strong growth      

continued in Russia and Lithuania. The market situation in Hungary continued on 

a low level at the same time as the construction activities in Estonia and      

Latvia calmed down. In general our market positions remain strong and it was    

further strengthened by our entry in Slovakia.                                  



Profit margins were directly impacted by the weaker market conditions,          

seasonality, and fewer working days. Our provisions for bad debts were also     

increased compared to last year. To adapt to changes in market demand, we are   

increasing our equipment transfers from some of the weaker markets to support   

growth markets. There is an increase in maintenance and repair costs as a result

of a long period of high utilization.                                           



The financial turmoil has increased the uncertainty of the market development in

many of our countries. We will focus carefully on the extent, timing and        

allocation of capital expenditures in 2008 and reallocate existing machinery    

capacity, in order to avoid over investments in markets with high exposure. With

a strong balance sheet, we are well positioned to exploit the business          

opportunities and to continue invest in bolt-on acquisitions, and new capacity  

to support profitable growth.                                                   



For the full-year 2008, we estimate that the net sales and profit before taxes  

will grow compared to the last year. However, it will be challenging to fulfil  

the financial target of 15 per cent growth in earnings per share in 2008.       







KEY FIGURES                                                                     





--------------------------------------------------------------------------------

| (EUR million)               |      1-3/2008 |      1-3/2007 |      1-12/2007 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Net sales                   |         162.1 |         136.6 |          634.3 |

--------------------------------------------------------------------------------

| Operating profit before     |          52.1 |          46.5 |          237.0 |

| depreciation (EBITDA)       |               |               |                |

--------------------------------------------------------------------------------

| Operating profit (EBIT)     |          29.5 |          29.0 |          157.5 |

--------------------------------------------------------------------------------

| % of net sales              |         18.2% |         21.3% |          24.8% |

--------------------------------------------------------------------------------

| Profit before taxes (EBT)   |          26.2 |          27.1 |          145.8 |

--------------------------------------------------------------------------------

| Net profit for the period   |          19.5 |          20.1 |          110.2 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Earnings per share (EPS),   |          0.18 |          0.19 |           1.02 |

| (diluted), EUR              |               |               |                |

--------------------------------------------------------------------------------

| Equity per share (diluted), |          3.30 |          2.63 |           3.14 |

| EUR                         |               |               |                |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Return on invested capital  |         28.6% |         28.5% |          31.7% |

| (ROI), % 1)                 |               |               |                |

--------------------------------------------------------------------------------

| Net debt                    |         292.0 |         208.0 |          235.9 |

--------------------------------------------------------------------------------

| Gearing, %                  |         81.3% |         73.1% |          69.2% |

--------------------------------------------------------------------------------

| Equity ratio, %             |         43.7% |         44.1% |          46.3% |

--------------------------------------------------------------------------------

| Gross investments in        |          93.0 |          74.0 |          217.5 |

| non-current assets (EUR     |               |               |                |

| million)                    |               |               |                |

--------------------------------------------------------------------------------

| Gross investments, % of net |         57.4% |         54.2% |          34.3% |

| sales                       |               |               |                |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Personnel, average          |         3,927 |         3,141 |          3,407 |

--------------------------------------------------------------------------------

| Personnel at end of period  |         3,961 |         3,244 |          3,642 |

--------------------------------------------------------------------------------





1) The figures are calculated on a rolling twelve month basis.                  



OPERATING ENVIRONMENT                                                           



Ramirent is a company focused on construction machinery and equipment rentals,  

operating in the Northern, Central and Eastern European markets. The Group is   

headquartered in Vantaa and had 359 (293) permanent outlets at the end of the   

first quarter 2008, in thirteen countries.                                      



The level of construction activities in the Nordic region, except for Denmark,  

remained high. New residential construction slowed down in many countries, but  

other areas of construction compensated for this.  In Central and Eastern       

European countries, the construction market continued to grow rapidly, except   

for Estonia, Latvia and Hungary where construction activities have slowed down  

significantly. The Company expects that the rental market has grown faster than 

the construction market in its operating countries.                             



GROUP NET SALES AND PROFIT                                                      



Due to the seasonality in the construction business, the first quarter is       

typically a period of lower activity for Ramirent Group's business operations.  

The invoicing days in the first quarter were fewer compared to the previous year

due to Easter holidays taking place in March as opposed to April in 2007. Good  

market conditions in most of Ramirent's segments, heavy investments in new      

capacity during 2007 and acquisitions contributed to net sales growing by 18.7% 

to EUR 162.1 (136.6) million. Growth was strongest in Finland (+23%) and in     

Europe Central (+75%). The growth was for the most part organic. The Group's net

sales by segment was as follows: Finland accounted for EUR 33.4 (27.1) million, 

Sweden for EUR 41.7 (35.8) million, Norway for EUR 37.1 (34.8) million, Denmark 

for EUR 13.7 (12.5) million, and Ramirent Europe for EUR 36.6 (26.9) million of 

which Europe East was EUR 20.0 (17.4) million and Europe Central EUR 16.6 (9.5) 

million.                                                                        



The Group's operating profit (EBIT) for the review period was EUR 29.5 (29.0)   

million. The operating profit includes a non-recurring gain of EUR 1.2 million  

from the divestment of property in Norway in January 2008, which has not been   

allocated to any segment. Fewer working days, less favourable weather conditions

during the first quarter and increased bad debt provisions lowered the operating

profit year on year. Higher maintenance and repair costs after a long period of 

high utilization also had a negative effect on the EBIT margins. The Group's    

operating margin was 18.2% (21.3%).                                             



The Group's operating profit by segment was as follows: Finland accounted for   

EUR 6.5 (6.4) million, Sweden for EUR 9.0 (7.4) million, Norway for EUR 6.9     

(7.8) million, Denmark for EUR 0.8 (1.3) million, and Ramirent Europe for EUR   

5.7 (6.9) million of which Europe East accounted for EUR 4.1 (4.7) million and  

Europe Central for EUR 1.5 (2.2) million.                                       



The net financial items increased to EUR -3.3 (-1.9) million mainly due to      

increased interest expenses as result of increased net debt and higher interest 

rate levels.                                                                    



The Group's profit before taxes for the review period was EUR 26.2 (27.1)       

million. The net profit for the review period was EUR 19.5 (20.1) million. The  

return on invested capital was 28.6% (28.5%) and the return on equity was 34.1% 

(33.5%).                                                                        



CAPITAL EXPENDITURE AND DEPRECIATION                                            



The Group companies' gross capital expenditure on non-current assets totalled   

EUR 93.0 (74.0) million of which EUR 19.6 million was due to acquisitions.      

Totally EUR 79.8 (72.8) million was attributable to investments in machinery and

equipment. The continuation of the investment programme reflects the Group's    

focus on profitable growth and its efforts to expand the rental fleet capacity  

to meet customer demand and to develop the product range and outlet network,    

especially in the fastest growing markets.                                      



The total depreciation of non-current assets during the review period amounted  

to EUR 22.6 (17.4) million, of which EUR 22.0 (16.4) million consisted of       

depreciation of machinery and equipment. Disposals of tangible non-current      

assets were EUR 4.7 (3.7) million, of which EUR 2.7 (2.5) million were          

attributable to machinery and equipment and the rest was mostly attributable to 

sold properties.                                                                



Group goodwill totalled EUR 95.7 (76.7) million at the end of the review period.



FINANCIAL POSITION AND BALANCE SHEET                                            



The Group's first-quarter cash flow from operating activities was positive,     

amounting to EUR 30.9 (47.1) million. Cash flow from investing activities       

amounted to EUR -85.7 (-68.4) million. Cash flow from financing activities      

totalled EUR 56.0 (21.9) million. At the end of the review period, liquid assets

stood at EUR 2.4 (1.7) million, resulting in a net change in cash of EUR 1.2    

(0.6) million compared to the year-end.                                         



Ramirent's interest-bearing liabilities increased by EUR 84.7 million from      

year-end 2007 and totalled EUR 294.4 (209.7) million. Net debt amounted to EUR  

292.0 (208.0) million at the end of the review period. Gearing amounted to 81.3 

% (73.1%).                                                                      



The nominal value of the interest rate swaps at the end of the review period was

EUR 121.4 (94.0) million.                                                       



Total assets amounted to EUR 822.8 (644.8) million and the Group's equity ratio 

was 43.7% (44.1%).                                                              



BUSINESS EXPANSION DURING THE REVIEW PERIOD                                     

On 3 January 2008, Ramirent Finland Oy acquired the rental equipment business of

Suomen Rakennuskonevuokraamo Oy. The acquisition added two new outlets to       

Ramirent's presence in the area of Helsinki and Espoo in Finland. Founded in    

1965, Suomen Rakennuskonevuokraamo Oy, has annual revenues of around EUR 2      

million and employs 10 people.                                                  



On 8 January 2008, Ramirent Europe Oy acquired a majority stake in the          

Slovak-based company, OTS Bratislava, spol.sr.o., a leading provider of rental  

equipment services for Slovak construction companies. The entry into Slovakia is

an important strategic step for Ramirent, offering unique opportunities for     

profitable growth in this new market. The company has a network of 37 own and   

franchised outlets, employs 135 people and is expected to generate sales of over

EUR 10 million in 2008.                                                         



BUSINESS SEGMENTS                                                               



During the review period, Ramirent Group's business operations grew in all      

business segments compared to the corresponding period of the previous year. The

operating profit increased only in Sweden and Finland compared to the first     

quarter of the previous year which was exceptionally strong.                    



From January 2008 the Ramirent Europe segment is reported as two separate       

segments, Europe East (Estonia, Latvia, Lithuania, Ukraine and Russia) and      

Europe Central (Poland, Hungary, Czech Republic and Slovakia). The comparative  

figures for 2007 have been reported accordingly.                                



Finland                                                                         



In Finland, business operations continued to grow rapidly based on the strong   

development in the Finnish construction market, shipyards and industrial        

projects. Net sales increased by 23% and totalled EUR 33.4 (27.1) million. The  

growth was mainly organic. The operating profit (EBIT) was EUR 6.5 (6.4) million

and the operating profit margin (EBIT-%) decreased to 19.6% (23.6%).            



Sweden                                                                          



In Sweden, the profitability improvement continued. Net sales grew by 16% to EUR

41.7 (35.8) million. Ramirent acquired the rental equipment company             

Hyresmaskiner i Stockholm AB at the end of 2007 to strengthen Ramirent's        

presence in the area of Stockholm and Uppsala. The operating profit margin      

(EBIT-%) was the highest among the Group's segments 21.7% (20.7%). The operating

profit (EBIT) increased to EUR 9.0 (7.4) million due to better utilization of   

fleet and organisational resources as well as enhanced outlet network and new   

customer groups.                                                                



Norway                                                                          



In Norway, Ramirent's Norwegian subsidiary Bautas AS's net sales increased by 7%

and totalled EUR 37.1 (34.8) million. The operating profit (EBIT) decreased to  

EUR 6.9 (7.8) million and the operating profit margin (EBIT-%) to 18.6% (22.4%).

The profitability was affected by salary increases and lower utilisation due to 

transportation of fleet between major projects.                                 



Denmark                                                                         



In Denmark, business operations grew at a slower rate compared to previous year,

as a consequence of the declining construction market. Net sales grew by 10% to 

EUR 13.7 (12.5) million. Level of competition is high and there is some pressure

on market prices. The operating profit (EBIT) was EUR 0.8 (1.3) million, and the

operating profit margin (EBIT-%) was 5.9% (10.4%).                              



Europe East                                                                     



Ramirent's business operations in Europe East (Russia, Estonia, Latvia,         

Lithuania and Ukraine) grew by 14.9% to EUR 20.0 (17.4) million. The growth     

continued in Russia and Lithuania, whereas in the overheated markets of Estonia 

and Latvia the net sales were at a lower level compared to the previous year.   

The operating margin (EBIT-%) decreased to 20.6% (26.6%), due to the negative   

development in Estonia and Latvia. Rapid salary inflation continued. Operating  

profit (EBIT) fell to EUR 4.1 (4.7) million.                                    



Europe Central                                                                  



Ramirent's business operations in Europe Central (Poland, Hungary, the Czech    

Republic and Slovakia) continued to show strong growth during the first quarter.

Net sales increased by 75% to EUR 16.6 (9.5) million. Investments in new        

capacity, entry into Slovakia and expansion of the outlet network further       

improved Ramirent's market position. In Poland, business operations were        

expanded in new areas and the number of outlets increased to 40 (27) at the end 

of the first quarter 2008. In Hungary, low market demand continued and the fleet

and outlet network have been restructured to adjust operations to the current   

market situation. The operating profit (EBIT) decreased to EUR 1.5 (2.2) million

and the operating profit margin (EBIT-%) was 9.2% (23.3%) due to planned ramp-up

costs in Poland, the Czech Republic and Slovakia and negative development in    

Hungary.                                                                        





PERSONNEL AND ORGANISATION                                                      



In the review period, the Group employed an average of 3,927 (3,141) people, of 

whom 667 (625) worked in the Finnish operations, 650 (581) in the Swedish       

operations, 678 (612) in the Norwegian operations, 257 (220) in the Danish      

operations, 674 (524) in Europe East and 982 (564) in Europe Central, and 16    

(12) in the Group administration.                                               



At the end of the review period, the Group had 359 (293) outlets, of which 96   

(94) were in Finland, in Sweden 57 (48), in Norway 37 (37), in Denmark 18 (16), 

in Europe East 52 (49) and in Europe Central 99 (49).                           





BUSINESS RISKS                                                                  



The main risks affecting Ramirent's business operations are connected to        

economic cycles in the construction industry and increased competition.         

Retaining and attracting personnel is one of the main short-term risks.         



Ramirent is subject to certain financial risks of which the foreign currency and

interest rate risks are regarded to be of greater importance than other         

financial risks.                                                                



Ramirent's business risks and risk management have been described in the Annual 

Report 2007. The Company estimates that the risk exposure has increased,        

especially with regards to residential construction due to the turmoil in the   

financial markets, compared to year-end 2007. Additionally, cost pressure has   

increased and business environment has in general become less benign in our     

markets. In response, stricter risk management routines have been implemented.  



SHARES AND SHARE CAPITAL                                                        



On 31 March, 2008, Ramirent's share capital was EUR 11,685,081.87 divided into  

108,698,436 shares.                                                             



SHARE TURNOVER AND PERFORMANCE                                                  



During the review period, 29,112,587 (16,003,276) shares were traded on the OMX 

Nordic Exchange Helsinki at a total value of EUR 319,194,792 (213,203,257), i.e.

26.8% (14.8%) of Ramirent's total stock was traded. The highest price quoted in 

the review period was EUR 12.46 (15.05) and the lowest EUR 8.53 (11.02). The    

average price of the period under review was EUR 11.05 (13.32) and the last     

quotation on the period's last trading day was EUR 11.99 (15.00). The Company's 

market value at the end of the period under review was EUR 1,303,294,248        

(1,623,004,500).                                                                



SHAREHOLDERS                                                                    



The ten principal shareholders on 31 March, 2008 were:                          



--------------------------------------------------------------------------------

|                                      | Shares            |   % of shares and |

|                                      |                   |             votes |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Nordstjernan AB                      |        22,349,080 |            20.56% |

--------------------------------------------------------------------------------

| Oy Julius Tallberg Ab                |        11,427,229 |            10.51% |

--------------------------------------------------------------------------------

| Varma Mutual Pension Insurance       |         7,918,441 |             7.28% |

| Company                              |                   |                   |

--------------------------------------------------------------------------------

| Ilmarinen Mutual Pension Insurance   |         2,372,828 |             2.18% |

| Company                              |                   |                   |

--------------------------------------------------------------------------------

| Odin Norden                          |         2,018,860 |             1.86% |

--------------------------------------------------------------------------------

| Odin Finland                         |         1,217,762 |             1.12% |

--------------------------------------------------------------------------------

| Odin Europa SMB                      |           959,680 |             0.88% |

--------------------------------------------------------------------------------

| The State Pension Fund               |           920,000 |             0.85% |

--------------------------------------------------------------------------------

| Etera Mutual Pension Insurance       |           842,120 |             0.77% |

| Company                              |                   |                   |

--------------------------------------------------------------------------------

| Veritas Pension Insurance Company    |           780,000 |             0.72% |

| Ltd.                                 |                   |                   |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Nominee-registered shareholders      |        37,242,043 |            34.26% |

--------------------------------------------------------------------------------

| Other shareholders                   |        20,650,393 |            19.00% |

--------------------------------------------------------------------------------

| Totally                              |       108,698,436 |            100.0% |

--------------------------------------------------------------------------------





EVENTS AFTER THE PERIOD                                                         



On 9 May 2008, it was announced that Ramirent President and CEO Kari Kallio will

retire in 2009. The generation shift, being carried out in consultation with    

Ramirent's Board of Directors, is expected to occur not later than in           

conjunction with the 2009 Annual General Meeting. The Board of Ramirent has     

initiated the process of finding a new President and CEO. Kari Kallio will      

continue in his role as President and CEO until his successor assumes office.   



DECISIONS MADE BY THE ANNUAL GENERAL MEETING OF 9 APRIL, 2008                   



The Annual General Meeting of Ramirent Plc held on 9 April 2008 approved the    

financial statements and discharged the members of the Board of Directors and   

the CEO from liability for the fiscal year 2007.                                



Payment of dividend                                                             

                                                                                

The Annual General Meeting adopted the proposal by the Board of Directors to    

distribute a dividend of EUR 0.50 per share for 2007. The dividend record date  

was 14 April 2008 and the dividend was paid on 28 April 2008.                   



Composition of the Board of Directors                                           



The Annual General Meeting decided to elect seven members to the Board. The     

following members of the Ramirent Board were re-elected for a term until the    

close of the next Annual General Meeting: Kaj-Gustaf Bergh, Torgny Eriksson,    

Peter Hofvenstam, Ulf Lundahl, Freek Nijdam, Erkki Norvio and Susanna Renlund.  



Remuneration of the Board of Directors                                          



The Annual General Meeting decided the remuneration of the Board of Directors   

shall be unchanged, i.e. for the Chairman EUR 3,000 per month and additionally  

EUR 1,500 for attendance at Board and committee meetings and other similar Board

assignments; for the vice-chairman EUR 2,500 per month and additionally EUR     

1,300 for attendance at Board and committee meetings and other similar Board    

assignments; and for the members of the Board EUR 1,700 per month and           

additionally EUR 1,000 for attendance at Board and committee meetings and other 

similar Board assignments.                                                      



Election of the auditors                                                        



At the Annual General Meeting KPMG Oy Ab, a firm of Authorized Public           

Accountants, was re-elected auditor. Pauli Salminen, APA, is the main           

responsible auditor appointed by KPMG Oy Ab.                                    



Authorisation to acquire and distribute own shares                              



The Annual General Meeting adopted the Board of Directors' proposal to authorise

the Board to decide on acquisition of the Company's own shares up to a maximum  

of 5,434,921 of own shares.                                                     



Authorisation to issue new shares                                               



The Annual General Meeting resolved to authorise the Board of Directors to issue

a maximum of 5,434,921 new shares and to convey a maximum of 5,434,921 shares   

against payment.                                                                



Reduction of the share premium fund                                             



The Annual General Meeting adopted the Board of Directors' proposal to reduce   

the share premium fund as shown in the balance sheet as per 31 December 2007 by 

the amount of 126,643,828.85 euros by transferring the amount of EUR            

13,314,918.13 to the share capital and the amount of EUR 113,328,910.72 to the  

free equity fund.                                                               



Decisions by the Board of Directors                                             



At the organisational meeting of the Board of Directors held after the Annual   

General Meeting, the Board of Directors elected from among its members Peter    

Hofvenstam as its Chairman and Susanna Renlund as Vice Chairman.                



The Board of Directors resolved to establish an Audit Committee and Peter       

Hofvenstam was elected as Chairman and Susanna Renlund as member of the Audit   

Committee.                                                                      



The Board of Directors re-elected Peter Hofvenstam as Chairman of the Working   

Committee and Kaj-Gustaf Bergh and Ulf Lundahl as members of the Working        

Committee.                                                                      



LONG-TERM FINANCIAL TARGETS                                                     



Ramirent is focusing on profitable growth and a strong financial position that  

provides financial stability for long-term business decisions. The financial    

targets are as follows:                                                         

- Earnings per share growth of at least 15% per annum                           

- Return on invested capital annually of at least 18%                           

- Dividend payout ratio of at least 40% of the annual net profit.               



OUTLOOK                                                                         



The market conditions for construction are expected to remain favourable in most

of the Ramirent countries during 2008, but with lower growth rates than in      

recent years and higher uncertainty regarding the outlook. In the Nordic region,

Ramirent estimates the generally favourable market conditions for construction  

and property development to prevail in 2008. The large construction companies   

still show sound order backlogs. However, the growth rates are expected to be   

lower than in 2007 and the turmoil in the financial markets and the cost        

pressures are expected to adversely impact the construction market outlook.     

Ramirent's view is that the markets for commercial buildings and civil          

engineering will remain favourable in 2008, whilst the residential markets have 

passed the peak and are weakening. In Central and Eastern Europe, Ramirent      

expects sustained growth in most of the construction markets during 2008, except

in Hungary, Latvia and Estonia where the construction markets have distinctly   

slowed down.                                                                    

                                                                                

Overall rental penetration rate for machinery and equipment rental services is  

expected to continue to rise in the Group's markets as construction companies   

increasingly opt to rent equipment instead of investing in their own fleet.     

Hence, Ramirent estimates that the machinery rental markets will continue to    

grow faster than the construction markets.                                      

                                                                                

With a strong balance sheet, Ramirent is well-positioned to be an active        

consolidator of the industry and to exploit opportunities over the business     

cycles. Ramirent will maintain a disciplined approach to capital spending. It   

will target bolt-on acquisitions, invest selectively or even cut back on capital

expenditure in new fleet to avoid overcapacity and to safeguard cash flow and   

profitability.                                                                  

                                                                                

Since the outlook of the machinery rental markets have become more uncertain,   

Ramirent will revisit the capital expenditure plans, reallocate existing        

machinery capacity and prioritize bolt-on acquisitions.  For the full-year 2008,

Ramirent estimates that the net sales and profit before taxes will grow compared

to the last year. However, it will be challenging to fulfil the financial target

of 15 per cent growth in earnings per share in 2008.                            





SEGMENT INFORMATION, INCOME STATEMENT, BALANCE SHEET, CONDENSED CASH FLOW       

STATEMENT, STATEMENT OF CHANGES IN EQUITY, ACQUISITIONS, KEY FIGURES, AND       

CONTINGENT                                                                      

LIABILITIES                                                                     



Ramirent Plc adopted the International Financial Reporting Standards (IFRS) on 1

January, 2005. The same definitions of key financial figures have been applied  

as in Ramirent Plc's annual financial statements for 2007.                      



Segment information is presented for Ramirent's primary segment, which is       

determined by geographical split. Ramirent Plc has started to report Ramirent   

Europe as two segment as from 1 January 2008. The segment information of the    

previous year has been amended accordingly.                                     





QUARTERLY SEGMENT INFORMATION                                                   



--------------------------------------------------------------------------------

| (EUR million)                 |   1-3/08   |        1-3/07 |         1-12/07 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Net sales                     |            |               |                 |

--------------------------------------------------------------------------------

| Finland                       |       33.4 |          27.1 |           133.6 |

--------------------------------------------------------------------------------

| Sweden                        |       41.7 |          35.8 |           152.6 |

--------------------------------------------------------------------------------

| Norway                        |       37.1 |          34.8 |           145.9 |

--------------------------------------------------------------------------------

| Denmark                       |       13.7 |          12.5 |            57.0 |

--------------------------------------------------------------------------------

| Europe Group East             |       20.0 |          17.4 |            91.0 |

--------------------------------------------------------------------------------

| Europe Group Central          |       16.6 |           9.5 |            55.4 |

--------------------------------------------------------------------------------

| Sales between segments        |       -0.5 |          -0.4 |            -1.3 |

--------------------------------------------------------------------------------

| Net sales, total              |      162.1 |         136.6 |           634.3 |

--------------------------------------------------------------------------------

| Other operating income        |        1.7 |           0.3 |             5.8 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Operating profit              |            |               |                 |

--------------------------------------------------------------------------------

| Finland                       |        6.5 |           6.4 |            34.8 |

--------------------------------------------------------------------------------

| % of net sales                |      19.6% |         23.6% |           26.1% |

--------------------------------------------------------------------------------

| Sweden                        |        9.0 |           7.4 |            35.1 |

--------------------------------------------------------------------------------

| % of net sales                |      21.7% |         20.7% |           23.0% |

--------------------------------------------------------------------------------

| Norway                        |        6.9 |           7.8 |            35.9 |

--------------------------------------------------------------------------------

| % of net sales                |      18.6% |         22.4% |           24.6% |

--------------------------------------------------------------------------------

| Denmark                       |        0.8 |           1.3 |            10.2 |

--------------------------------------------------------------------------------

| % of net sales                |       5.9% |         10.4% |           17.9% |

--------------------------------------------------------------------------------

| Europe Group East             |        4.1 |           4.7 |            29.4 |

--------------------------------------------------------------------------------

| % of net sales                |      20.6% |         27.2% |           32.3% |

--------------------------------------------------------------------------------

| Europe Group Central          |        1.5 |           2.2 |            12.9 |

--------------------------------------------------------------------------------

| % of net sales                |       9.2% |         23.3% |           23.2% |

--------------------------------------------------------------------------------

| Net costs not allocated to    |        0.6 |          -0.8 |            -0.8 |

| segments                      |            |               |                 |

--------------------------------------------------------------------------------

| Group operating profit        |       29.5 |          29.0 |           157.5 |

--------------------------------------------------------------------------------

| % of net sales                |      18.2% |         21.3% |           24.8% |

--------------------------------------------------------------------------------



Net costs not allocated to segments in Q1 2008 consist of the capital gain of   

EUR 1.2 million from selling the property in Norway and group administration    

costs of EUR -0.6 million.                                                      



INCOME STATEMENT                                                                





--------------------------------------------------------------------------------

| (EUR 1,000)               |         1-3/08 |         1-3/07 |        1-12/07 |

--------------------------------------------------------------------------------

|                           |                |                |                |

--------------------------------------------------------------------------------

| Net sales                 |        162,076 |        136,586 |        634,257 |

--------------------------------------------------------------------------------

| Other operating income    |          1,658 |            256 |          5,825 |

--------------------------------------------------------------------------------

| TOTAL                     |        163,734 |        136,842 |        640,083 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Materials and services    |        -47,328 |        -38,697 |       -173,750 |

--------------------------------------------------------------------------------

| Employee benefit expenses |        -42,890 |        -35,299 |       -152,970 |

--------------------------------------------------------------------------------

| Depreciation              |        -22,606 |        -17,439 |        -79,457 |

--------------------------------------------------------------------------------

| Other operating expenses  |        -21,458 |        -16,378 |        -76,361 |

--------------------------------------------------------------------------------

| OPERATING PROFIT          |         29,452 |         29,029 |        157,545 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Financial income          |          2,444 |          1,891 |          5,761 |

--------------------------------------------------------------------------------

| Financial expenses        |         -5,729 |         -3,814 |        -17,553 |

--------------------------------------------------------------------------------

| PROFIT BEFORE TAXES       |         26,167 |         27,106 |        145,753 |

--------------------------------------------------------------------------------

| Income taxes              |         -6,687 |         -7,042 |        -35,541 |

--------------------------------------------------------------------------------

| NET PROFIT FOR THE PERIOD |         19,480 |         20,064 |        110,212 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Sharing of profit:        |                |                |                |

--------------------------------------------------------------------------------

| To the parent company's   |         19,481 |         20,054 |        110,177 |

| shareholders              |                |                |                |

--------------------------------------------------------------------------------

| To the Group's minority   |             -1 |             10 |             36 |

--------------------------------------------------------------------------------

| Sharing of profit, total  |         19,480 |         20,064 |        110,212 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Earnings per share (EPS), |           0.18 |           0.19 |           1.02 |

| diluted, EUR              |                |                |                |

--------------------------------------------------------------------------------

| Earnings per share (EPS), |           0.18 |           0.19 |           1.02 |

| non-diluted, EUR          |                |                |                |

--------------------------------------------------------------------------------







BALANCE SHEET                                                                   



ASSETS                                                                          



--------------------------------------------------------------------------------

| (EUR 1,000)                  |     31.3.2008 |    31.3.2007 |     31.12.2007 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| NON-CURRENT ASSETS           |               |              |                |

--------------------------------------------------------------------------------

| Tangible assets              |       559,498 |      435,851 |        505,098 |

--------------------------------------------------------------------------------

| Investments in process       |         6,854 |        4,648 |            702 |

--------------------------------------------------------------------------------

| Goodwill                     |        95,661 |       76,728 |         77,633 |

--------------------------------------------------------------------------------

| Other intangible assets      |         2,042 |        1,471 |          2,011 |

--------------------------------------------------------------------------------

| Available-for-sale           |            95 |          127 |             95 |

| investments                  |               |              |                |

--------------------------------------------------------------------------------

| Deferred tax assets          |         3,043 |        1,307 |          2,170 |

--------------------------------------------------------------------------------

| NON-CURRENT ASSETS, TOTAL    |       667,193 |      520,132 |        587,709 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| CURRENT ASSETS               |               |              |                |

--------------------------------------------------------------------------------

| Inventories                  |        24,591 |       18,683 |         22,155 |

--------------------------------------------------------------------------------

| Trade and other receivables  |       126,666 |      100,265 |        122,873 |

--------------------------------------------------------------------------------

| Income tax receivables on    |           946 |              |            225 |

| the taxable income for the   |               |              |                |

| financial period             |               |              |                |

--------------------------------------------------------------------------------

| Cash and cash equivalents    |         2,435 |        1,716 |          1,200 |

--------------------------------------------------------------------------------

| Non-current assets held for  |         1,015 |        4,018 |          2,967 |

| sale                         |               |              |                |

--------------------------------------------------------------------------------

| CURRENT ASSETS, TOTAL        |       155,653 |      124,682 |        149,420 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| TOTAL ASSETS                 |       822,846 |      644,814 |        737,129 |

--------------------------------------------------------------------------------







EQUITY AND LIABILITIES                                                          





--------------------------------------------------------------------------------

| (EUR 1,000)                   |    31.3.2008 |     31.3.2007 |    31.12.2007 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| EQUITY                        |              |               |               |

--------------------------------------------------------------------------------

| Share capital                 |       11,685 |        11,631 |        11,685 |

--------------------------------------------------------------------------------

| Share premium account         |      126,644 |       126,102 |       126,644 |

--------------------------------------------------------------------------------

| Retained earnings             |      220,243 |       146,651 |       202,683 |

--------------------------------------------------------------------------------

| PARENT COMPANY SHAREHOLDERS'  |      358,572 |       284,384 |       341,012 |

| EQUITY                        |              |               |               |

--------------------------------------------------------------------------------

| Minority interests            |          757 |            92 |           107 |

--------------------------------------------------------------------------------

| EQUITY, TOTAL                 |      359,329 |       284,476 |       341,119 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| NON-CURRENT LIABILITIES       |              |               |               |

--------------------------------------------------------------------------------

| Deferred tax liabilities      |       44,911 |        32,602 |        44,271 |

--------------------------------------------------------------------------------

| Pension obligations           |        8,180 |         8,220 |         8,036 |

--------------------------------------------------------------------------------

| Provisions                    |        1,009 |         1,147 |           987 |

--------------------------------------------------------------------------------

| Interest-bearing liabilities  |      215,004 |       169,237 |       164,501 |

--------------------------------------------------------------------------------

| NON-CURRENT LIABILITIES,      |      269,104 |       211,206 |       217,796 |

| TOTAL                         |              |               |               |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| CURRENT LIABILITIES           |              |               |               |

--------------------------------------------------------------------------------

| Trade payables and other      |      102,533 |        97,466 |        89,007 |

| liabilities                   |              |               |               |

--------------------------------------------------------------------------------

| Provisions                    |          418 |           549 |           463 |

--------------------------------------------------------------------------------

| Income tax liabilities on the |       12,040 |        10,606 |        16,187 |

| taxable income for the        |              |               |               |

| financial period              |              |               |               |

--------------------------------------------------------------------------------

| Interest-bearing liabilities  |       79,422 |        40,511 |        72,558 |

--------------------------------------------------------------------------------

| CURRENT LIABILITIES, TOTAL    |      194,413 |       149,132 |       178,215 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| LIABILITIES, TOTAL            |      463,517 |       360,338 |       396,011 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| TOTAL EQUITY AND LIABILITIES  |      822,846 |       644,814 |       737,129 |

--------------------------------------------------------------------------------







CONDENSED CASH FLOW STATEMENT                                                   



--------------------------------------------------------------------------------

| (EUR million)                        |     1-3/08 |      1-3/07 |    1-12/07 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Cash flow from operating activities  |       30.9 |        47.1 |      173.8 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Cash flow from investing activities  |      -85.7 |       -68.4 |     -192.7 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Cash flow from financing activities  |            |             |            |

--------------------------------------------------------------------------------

|    Proceeds from share subscriptions |        0.0 |         0.1 |        0.7 |

--------------------------------------------------------------------------------

| Borrowings/ repayments of short-term |       10.5 |        15.1 |       50.5 |

|    debt                              |            |             |            |

--------------------------------------------------------------------------------

|    Borrowings of long-term debt      |       45.5 |         6.7 |        0.3 |

--------------------------------------------------------------------------------

|    Dividends paid                    |        0.0 |         0.0 |      -32.5 |

--------------------------------------------------------------------------------

| Cash flow from financing activities  |       56.0 |        21.9 |       19.0 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Net change in cash and cash          |        1.2 |         0.6 |        0.1 |

| equivalents                          |            |             |            |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Cash and cash equivalents at the     |        1.2 |         1.1 |        1.1 |

| beginning of the period              |            |             |            |

--------------------------------------------------------------------------------

| Translation difference on cash and   |        0.0 |         0.0 |        0.0 |

| cash equivalents                     |            |             |            |

--------------------------------------------------------------------------------

| Net change in cash and cash          |        1.2 |         0.6 |        0.1 |

| equivalents                          |            |             |            |

--------------------------------------------------------------------------------

| Cash and cash equivalents at the end |        2.4 |         1.7 |        1.2 |

| of the period                        |            |             |            |

--------------------------------------------------------------------------------







CHANGES IN EQUITY                                                               





A = Share capital                                                               

B = Share premium fund                                                          

C = Translation differences                                                     

D = Revaluation fund                                                            

E = Retained earnings                                                           

F = Entries on non-current assets held for sale                                 

G = Parent company shareholders' equity                                         

H = Minority interest                                                           

I = Total equity                                                                



--------------------------------------------------------------------------------

| (EUR    |      |       |      |     |        |      |        |      |        |

| 1,000)  |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |    A |     B |    C |   D |      E |    F |      G |    H |      I |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Equity  | 11,6 | 126,0 | 4,89 | 109 | 122,06 |  136 | 264,84 |   83 | 264,92 |

| 31.12.  |   25 |    11 |    8 |     |      2 |      |      1 |      |      4 |

| 2006    |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Trans­l  |    - |     - | -634 |   - |      - |    - |   -634 |   -1 |   -635

| 

| ation   |      |       |      |     |        |      |        |      |        |

| dif­fer  |      |       |      |     |        |      |        |      |       

| 

| ­ences   |      |       |      |     |        |      |        |      |       

| 

| 1-3/200 |      |       |      |     |        |      |        |      |        |

| 7       |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Fair    |    - |     - |    - |  33 |      - |    - |     33 |    - |     33 |

| value   |      |       |      |     |        |      |        |      |        |

| ad­just  |      |       |      |     |        |      |        |      |       

| 

| ­ment    |      |       |      |     |        |      |        |      |       

| 

| of      |      |       |      |     |        |      |        |      |        |

| inter­e  |      |       |      |     |        |      |        |      |       

| 

| st rate |      |       |      |     |        |      |        |      |        |

| SWAPs   |      |       |      |     |        |      |        |      |        |

| 1-3/200 |      |       |      |     |        |      |        |      |        |

| 7       |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Income  |    - |     - |    - |  -9 |      - |    - |     -9 |    - |     -9 |

| tax on  |      |       |      |     |        |      |        |      |        |

| di­rect  |      |       |      |     |        |      |        |      |       

| 

| ly to   |      |       |      |     |        |      |        |      |        |

| equity  |      |       |      |     |        |      |        |      |        |

| en­trie  |      |       |      |     |        |      |        |      |       

| 

| s       |      |       |      |     |        |      |        |      |        |

| 1-3/200 |      |       |      |     |        |      |        |      |        |

| 7       |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| En­trie  |    - |     - | -634 |  24 |      - |    - |   -610 |   -1 |   -611

| 

| s       |      |       |      |     |        |      |        |      |        |

| di­rect  |      |       |      |     |        |      |        |      |       

| 

| ly to   |      |       |      |     |        |      |        |      |        |

| equity  |      |       |      |     |        |      |        |      |        |

| (net)   |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Net     |    - |     - |    - |   - | 20,054 |    - | 20,054 |   10 | 20,064 |

| result  |      |       |      |     |        |      |        |      |        |

| for the |      |       |      |     |        |      |        |      |        |

| period  |      |       |      |     |        |      |        |      |        |

| 1-3/200 |      |       |      |     |        |      |        |      |        |

| 7       |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Net of  |    - |     - | -634 |  24 | 20,054 |    - | 19,444 |    9 | 19,453 |

| income  |      |       |      |     |        |      |        |      |        |

| and     |      |       |      |     |        |      |        |      |        |

| ex­pens  |      |       |      |     |        |      |        |      |       

| 

| es for  |      |       |      |     |        |      |        |      |        |

| the     |      |       |      |     |        |      |        |      |        |

| period  |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Exer­ci  |    7 |    91 |    - |   - |      - |    - |     98 |    - |     98

| 

| sed     |      |       |      |     |        |      |        |      |        |

| share   |      |       |      |     |        |      |        |      |        |

| op­tion  |      |       |      |     |        |      |        |      |       

| 

| s       |      |       |      |     |        |      |        |      |        |

| 1-3/200 |      |       |      |     |        |      |        |      |        |

| 7       |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Equity  | 11,6 | 126,1 | 4,26 | 133 | 142,11 |  136 | 284,38 |   92 | 284,47 |

| 31.3.20 |   32 |    02 |    4 |     |      6 |      |      3 |      |      5 |

| 07      |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Trans­l  |    - |     - | -1,3 |   - |      - |    - | -1,364 |  -11 | -1,375

| 

| ation   |      |       |   64 |     |        |      |        |      |        |

| dif­fer  |      |       |      |     |        |      |        |      |       

| 

| ­ences   |      |       |      |     |        |      |        |      |       

| 

| 4-12/20 |      |       |      |     |        |      |        |      |        |

| 07      |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Fair    |    - |     - |    - | -35 |      - |    - |   -359 |    - |   -359 |

| value   |      |       |      |   9 |        |      |        |      |        |

| ad­just  |      |       |      |     |        |      |        |      |       

| 

| ­ment    |      |       |      |     |        |      |        |      |       

| 

| of      |      |       |      |     |        |      |        |      |        |

| inter­e  |      |       |      |     |        |      |        |      |       

| 

| st rate |      |       |      |     |        |      |        |      |        |

| SWAPs   |      |       |      |     |        |      |        |      |        |

| 4-12/20 |      |       |      |     |        |      |        |      |        |

| 07      |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Income  |    - |     - |    - |  94 |      - |    - |     94 |    - |     94 |

| tax on  |      |       |      |     |        |      |        |      |        |

| di­rect  |      |       |      |     |        |      |        |      |       

| 

| ly to   |      |       |      |     |        |      |        |      |        |

| equity  |      |       |      |     |        |      |        |      |        |

| en­trie  |      |       |      |     |        |      |        |      |       

| 

| s       |      |       |      |     |        |      |        |      |        |

| 4-12/20 |      |       |      |     |        |      |        |      |        |

| 07      |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| En­trie  |    - |     - | -1,3 | -26 |      - |    - | -1,629 |  -11 | -1,640

| 

| s       |      |       |   64 |   5 |        |      |        |      |        |

| di­rect  |      |       |      |     |        |      |        |      |       

| 

| ly to   |      |       |      |     |        |      |        |      |        |

| equity  |      |       |      |     |        |      |        |      |        |

| (net)   |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Net     |    - |     - |    - |   - | 90,123 |    - | 90,123 |   26 | 90,149 |

| result  |      |       |      |     |        |      |        |      |        |

| for the |      |       |      |     |        |      |        |      |        |

| period  |      |       |      |     |        |      |        |      |        |

| 4-12/20 |      |       |      |     |        |      |        |      |        |

| 07      |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Net of  |    - |     - | -1,3 | -26 | 90,123 |    - | 88,494 |   15 | 88,509 |

| income  |      |       |   64 |   5 |        |      |        |      |        |

| and     |      |       |      |     |        |      |        |      |        |

| ex­pens  |      |       |      |     |        |      |        |      |       

| 

| es for  |      |       |      |     |        |      |        |      |        |

| the     |      |       |      |     |        |      |        |      |        |

| period  |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Exer­ci      53 |   542 |    - |   - |      - |    - |    595 |    - |    595

| 

| sed     |      |       |      |     |        |      |        |      |        |

| share   |      |       |      |     |        |      |        |      |        |

| op­tion  |      |       |      |     |        |      |        |      |       

| 

| s       |      |       |      |     |        |      |        |      |        |

| 4-12/20 |      |       |      |     |        |      |        |      |        |

| 07      |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Divi­de  |    - |     - |    - |   - | -32,46 |    - | -32,46 |    - | -32,46

| 

| nd      |      |       |      |     |      0 |      |      0 |      |      0 |

| dis­tri  |      |       |      |     |        |      |        |      |       

| 

| bu­tion  |      |       |      |     |        |      |        |      |       

| 

| 4-12/20 |      |       |      |     |        |      |        |      |        |

| 07      |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Equity  | 11,6 | 126,6 | 2,90 | -13 | 199,77 |  136 | 341,01 |  107 | 341,11 |

| 31.12.2 |   85 |    44 |    0 |   2 |      9 |      |      2 |      |      9 |

| 007     |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Trans­l  |    - |     - | -1,2 |   - |      - |    - | -1,230 |    - | -1,230

| 

| ation   |      |       |   30 |     |        |      |        |      |        |

| dif­fer  |      |       |      |     |        |      |        |      |       

| 

| ­ences   |      |       |      |     |        |      |        |      |       

| 

| 1-3/200 |      |       |      |     |        |      |        |      |        |

| 8       |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Change  |    - |     - |    - |   - |      - |    - |      - |  649 |    649 |

| in      |      |       |      |     |        |      |        |      |        |

| minor­i  |      |       |      |     |        |      |        |      |       

| 

| ty      |      |       |      |     |        |      |        |      |        |

| (net)   |      |       |      |     |        |      |        |      |        |

| 1-3/200 |      |       |      |     |        |      |        |      |        |

| 8       |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Fair    |    - |     - |    - | -93 |      - |    - |   -934 |    - |   -934 |

| value   |      |       |      |   4 |        |      |        |      |        |

| ad­just  |      |       |      |     |        |      |        |      |       

| 

| ­ment    |      |       |      |     |        |      |        |      |       

| 

| of      |      |       |      |     |        |      |        |      |        |

| inter­e  |      |       |      |     |        |      |        |      |       

| 

| st rate |      |       |      |     |        |      |        |      |        |

| SWAPs   |      |       |      |     |        |      |        |      |        |

| 1-3/200 |      |       |      |     |        |      |        |      |        |

| 8       |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Income  |    - |     - |    - | 243 |      - |    - |    243 |    - |    243 |

| tax on  |      |       |      |     |        |      |        |      |        |

| di­rect  |      |       |      |     |        |      |        |      |       

| 

| ly to   |      |       |      |     |        |      |        |      |        |

| equity  |      |       |      |     |        |      |        |      |        |

| en­trie  |      |       |      |     |        |      |        |      |       

| 

| s       |      |       |      |     |        |      |        |      |        |

| 1-3/200 |      |       |      |     |        |      |        |      |        |

| 8       |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| En­trie  |    - |     - | -1,2 | -69 |      - |    - | -1,921 |  649 | -1,272

| 

| s       |      |       |   30 |   1 |        |      |        |      |        |

| di­rect  |      |       |      |     |        |      |        |      |       

| 

| ly to   |      |       |      |     |        |      |        |      |        |

| equity  |      |       |      |     |        |      |        |      |        |

| (net)   |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Net     |    - |     - |    - |   - | 19,481 |    - | 19,481 |    1 | 19,482 |

| result  |      |       |      |     |        |      |        |      |        |

| for the |      |       |      |     |        |      |        |      |        |

| period  |      |       |      |     |        |      |        |      |        |

| 1-3/200 |      |       |      |     |        |      |        |      |        |

| 8       |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Net of  |    - |     - | -1,2 | -69 | 19,481 |    - | 17,560 |  650 | 18,210 |

| income  |      |       |   30 |   1 |        |      |        |      |        |

| and     |      |       |      |     |        |      |        |      |        |

| ex­pens  |      |       |      |     |        |      |        |      |       

| 

| es for  |      |       |      |     |        |      |        |      |        |

| the     |      |       |      |     |        |      |        |      |        |

| period  |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

|         |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------

| Equity  | 11,6 | 126,6 | 1,67 | -82 | 219,26 |  136 | 358,57 |  757 | 359,32 |

| 31.3.20 |   85 |    44 |    0 |   3 |      0 |      |      2 |      |      9 |

| 08      |      |       |      |     |        |      |        |      |        |

--------------------------------------------------------------------------------







ACQUISITIONS                                                                    



During the review period Ramirent acquired the business of Suomen               

Rakennuskonevuokraamo Oy in Finland and of Hyresmaskiner i Stockholm AB in      

Sweden as well as 60 % of the shares of a Slovak-based company OTS Bratislava,  

spol. sr.o. Ramirent has an option to increase its holding in OTS Bratislava,   

spol. sr.o. to 100 % after 2010.                                                







KEY FIGURES                                                                     



--------------------------------------------------------------------------------

|                                |       1-3/08 |       1-3/07 |       1-12/07 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Interest-bearing debt, (EUR    |        294.4 |        209.7 |         237.1 |

| million)                       |              |              |               |

--------------------------------------------------------------------------------

| Net debt, (EUR million)        |        292.0 |        208.0 |         235.9 |

--------------------------------------------------------------------------------

| Invested capital (EUR          |        653.8 |        494.2 |         578.2 |

| million), end of period        |              |              |               |

--------------------------------------------------------------------------------

| Return on invested capital     |        28.6% |        28.5% |         31.7% |

| (ROI), % 1)                    |              |              |               |

--------------------------------------------------------------------------------

| Gearing, %                     |        81.3% |        73.1% |         69.2% |

--------------------------------------------------------------------------------

| Equity ratio, %                |        43.7% |        44.1% |         46.3% |

--------------------------------------------------------------------------------

| Personnel, average             |        3,927 |        3,141 |         3,407 |

--------------------------------------------------------------------------------

| Personnel, end of period       |        3,961 |        3,244 |         3,642 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Gross investments in           |         93.0 |         74.0 |         217.5 |

| non-current assets (EUR        |              |              |               |

| million)                       |              |              |               |

--------------------------------------------------------------------------------

| Gross investments, % of net    |        57.4% |        54.2% |         34.3% |

| sales                          |              |              |               |

--------------------------------------------------------------------------------



The definitions of the key figures are in Annual Report 2007.                   



1) The figures are calculated on a rolling twelve month basis.                  







KEY FIGURES PER SHARE                                                           



--------------------------------------------------------------------------------

|                             |         1-3/08 |        1-3/07 |       1-12/07 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Earnings per share (EPS)    |           0.18 |          0.19 |          1.02 |

| weighted average, diluted,  |                |               |               |

| EUR                         |                |               |               |

--------------------------------------------------------------------------------

| Earnings per share (EPS)    |           0.18 |          0.19 |          1.02 |

| weighted average,           |                |               |               |

| non-diluted, EUR            |                |               |               |

--------------------------------------------------------------------------------

| Equity per share, end of    |           3.30 |          2.63 |          3.14 |

| period, diluted, EUR        |                |               |               |

--------------------------------------------------------------------------------

| Equity per share, end of    |           3.30 |          2.63 |          3.14 |

| period, non-diluted, EUR    |                |               |               |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Number of shares (weighted  |    108,698,436 |   108,289,924 |   108,517,711 |

| average), diluted           |                |               |               |

--------------------------------------------------------------------------------

| Number of shares (weighted  |    108,698,436 |   108,177,800 |   108,422,225 |

| average), non-diluted       |                |               |               |

--------------------------------------------------------------------------------

| Number of shares (end of    |    108,698,436 |   108,312,424 |   108,698,436 |

| period), diluted            |                |               |               |

--------------------------------------------------------------------------------

| Number of shares (end of    |    108,698,436 |   108,200,300 |   108,698,436 |

| period), non-diluted        |                |               |               |

--------------------------------------------------------------------------------



The free issue on 24 April 2007 has been taken into account in the key figures  

per share.                                                                      





CONTINGENT LIABILITIES                                                          



--------------------------------------------------------------------------------

| (EUR million)                      |  31.3.2008 |   31.3.2007 |   31.12.2007 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Real estate mortgages              |        0.2 |           - |            - |

--------------------------------------------------------------------------------

| Interest-bearing debt for which    |        0.1 |           - |            - |

| the above collateral is given      |            |             |              |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Floating charges                   |        2.1 |        75.8 |            - |

--------------------------------------------------------------------------------

| Other pledged assets               |          - |         3.1 |          0.1 |

--------------------------------------------------------------------------------

| Interest-bearing debt for which    |        0.9 |       206.0 |          0.0 |

| the above collateral is given      |            |             |              |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Syretyships                        |        3.5 |         2.4 |          2.6 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Committed investments              |       70.0 |        68.9 |         86.4 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Non-cancellable minimum future     |      143.9 |        99.6 |        127.7 |

| operating lease payments           |            |             |              |

--------------------------------------------------------------------------------

| Non-cancellable minimum future     |        2.1 |         4.9 |          2.5 |

| finance lease payments             |            |             |              |

--------------------------------------------------------------------------------

| Finance lease debt in the balance  |       -2.0 |        -4.7 |         -2.4 |

| sheet                              |            |             |              |

--------------------------------------------------------------------------------

| Non-cancellable minimum future     |      143.9 |        99.7 |        127.8 |

| lease payments off-balance sheet   |            |             |              |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Obligations arising from           |            |             |              |

| derivative instruments             |            |             |              |

--------------------------------------------------------------------------------

| Nominal value of underlying object |      121.4 |        94.0 |        122.0 |

--------------------------------------------------------------------------------

| Fair value of the derivative       |       -1.1 |         0.2 |         -0.2 |

| instruments                        |            |             |              |

--------------------------------------------------------------------------------





Ramirent has borrowing facilities which have equity ratio, leverage ratio and   

other financial covenants. Ramirent's financial ratios are on 31 March 2008     

significantly better than these covenants.                                      



During the review period Ramirent has made no transactions with its related     

parties as defined in the Companies' Act. There are no outstanding balances     

between the Company and its related parties at the end of the review period.    



There are no pending legal cases, the impact of which could have a material     

effect on the figures reported in this interim report.                          



ANALYST AND PRESS BRIEFING ON 9 MAY, 2008                                       



A briefing for investment analysts and the press will be arranged on Friday 9   

May, 2008 at 10.00 a.m. in the Dining Room of Restaurant Pörssi in Helsinki     

(address: Fabianinkatu 14).                                                     



NEXT EVENT                                                                      



First Capital Market Day                                                        



Ramirent arranges its first Capital Market Day for institutional investors,     

analysts and media on 27 May 2008 in Gdansk, Poland. The specific focus of the  

day will be on Central and Eastern Europe and Ramirent's growing activities     

there. The purpose of the day is to give an in-depth briefing on the individual 

segment operations, markets and Ramirent's strategy.                            



For further information and registration please contact                         

franciska.janzon@ramirent.com.                                                  

                                                                                



In 2008, the interim reports will be published as follows:                      



- January-June: 	   15 August 2008 at 8:00 a.m. 

- January-September:  7 November 2008 at 8:00 a.m.                          





This interim report is non-audited.                                             



Vantaa, 9 May 2008                                                              



RAMIRENT PLC                                                                    



Board of Directors                                                              





FURTHER INFORMATION:                                                            

Kari Kallio, CEO, phone +358 20 750 2830, or email kari.kallio@ramirent.com     

Heli Iisakka, CFO, phone +358 20 750 3248, or email heli.iisakka@ramirent.com	  

Franciska Janzon, Director, Corporate Communications and IR, phone +358 20 750  

2859, or email franciska.janzon@ramirent.com	                                   









DISTRIBUTION:                                                                   

OMX Nordic Exchange Helsinki                                                    

Main news media                                                                 

www.ramirent.com                                                                





Ramirent is the leading machinery rental company in the Nordic countries and in 

Central and Eastern Europe. The Group has some 360 permanent outlets in thirteen

countries and is registered in Helsinki. Ramirent employs over 3,900 people and 

in 2007 the consolidated net sales were EUR 634 million. Ramirent is listed on  

the OMX Nordic Exchange Helsinki. For further information, please visit         

www.ramirent.com.

ramirent groups interim report january – march 2008 pdf.pdf