RAMIRENT PLC        INTERIM REPORT    7.11.2008 at 8:00 a.m.                    



RAMIRENT GROUP'S INTERIM REPORT JANUARY - SEPTEMBER, 2008                       



MARKET SITUATION RAPIDLY BECOMING MORE CHALLENGING                              



JANUARY-SEPTEMBER 2008 HIGHLIGHTS                                               



- Net sales increased by 16.7% to EUR 530.1 (1-9/2007: 454.5) million           

- Operating profit before depreciations (EBITDA) increased by 1.8% to EUR 172.3 

(169.2) million                                                                 

- Operating profit (EBIT) was EUR 99.4 (111.2) million, EBIT-margin 18.8%       

(24.5%)                                                                         

- Earnings per share of EUR 0.57 (0.72)                                         

- Gross capital expenditure was EUR 204.5 (187.4) million, of which machinery   

and equipment EUR 168.9 (185.2) million                                         

- Net debt of EUR 362.4 (264.5) million and gearing of 105.7% (84.1%)           

- Return on invested capital (ROI) of 24.4% (29.1%)                             

- For the full-year 2008, Ramirent estimates net sales growth to continue, but  

the profit before taxes and earnings per share to be clearly below 2007 level   



THIRD QUARTER 2008 HIGHLIGHTS                                                   



- Net sales increased by 12.9% to EUR 187.2 (165.8) million                     

- Operating profit (EBIT) was EUR 34.4 (45.7) million, EBIT-margin of 18.4%     

(27.6%)                                                                         

- Earnings per share of EUR 0.19 (0.29)                                         

- Additional cost reduction programs were initiated                             





COMMENTS BY CEO KARI KALLIO                                                     



“The global financial crisis and the economic slowdown continued to weaken the  

rental market in most of our countries during the third quarter. Overall, the   

level of investments in new construction and industrial projects is decreasing  

rapidly while the level of renovation activities is more stable. During the     

third quarter our net sales were still growing by 13%, but the operating profit 

decreased by 11% due to weaker market conditions.                               

                                                                                

In the Nordic countries, our business operations in Finland and Sweden continued

on a high level, while in Norway our operations weakened further due to the     

slowdown in the construction market. In Denmark, construction activities        

continued to decline, affecting our operations negatively.                      

                                                                                

In Europe East, strong growth continued in Russia and Ukraine, while our        

business volumes and operating profits decreased in all Baltic countries        

compared to previous year. In Europe Central, strong growth continued in Poland,

Czech Republic and Slovakia, while our Hungarian operations continued on a low  

level due to weak market conditions.                                            

                                                                                

Due to the rapid deceleration of the market, our margins and profitability      

declined. We will reinforce the actions to adjust our business operations to the

new market situation. We will intensify the process of re-allocating excess     

fleet capacity to markets facing more favourable conditions. We are also taking 

additional measures to streamline our cost structure to improve competitiveness 

and generate cash flow. Contingency plans are developed to address the risk of  

further market decline and to be prepared to rapidly implement changes where    

needed.                                                                         



We are prepared to weather this downturn with our strong balance sheet and solid

cash generation. For the full-year 2008, we expect net sales growth to continue,

but the profit before taxes and earnings per share to be clearly below 2007     

levels.”                                                                        







KEY FIGURES                                                                     



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

| (EUR million)    | 7-9/2008 | 7-9/2007 |  1-9/2008 |   1-9/2007 |  1-12/2007 |

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

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

| Net sales        |    187.2 |    165.8 |     530.1 |      454.5 |      634.3 |

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

| Operating profit |     60.2 |     67.0 |     172.3 |      169.2 |      237.0 |

| before           |          |          |           |            |            |

| depreciation     |          |          |           |            |            |

| (EBITDA)         |          |          |           |            |            |

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

| Operating profit |     34.4 |     45.7 |      99.4 |      111.2 |      157.5 |

| (EBIT)           |          |          |           |            |            |

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

| % of net sales   |    18.4% |    27.6% |     18.8% |      24.5% |      24.8% |

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

| Profit before    |     27.1 |     40.3 |      83.5 |      102.3 |      145.8 |

| taxes (EBT)      |          |          |           |            |            |

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

| Net profit for   |     20.4 |     31.5 |      61.6 |       77.7 |      110.2 |

| the period       |          |          |           |            |            |

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

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

| Earnings per     |     0.19 |     0.29 |      0.57 |       0.72 |       1.02 |

| share (EPS),     |          |          |           |            |            |

| (diluted), EUR   |          |          |           |            |            |

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

| Equity per share |          |          |      3.15 |       2.89 |       3.14 |

| (diluted), EUR   |          |          |           |            |            |

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

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

| Return on        |          |          |     24.4% |      29.1% |      31.7% |

| invested capital |          |          |           |            |            |

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

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

| Net debt         |          |          |     362.4 |      264.5 |      235.9 |

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

| Gearing, %       |          |          |    105.7% |      84.1% |      69.2% |

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

| Equity ratio, %  |          |          |     39.1% |      42.3% |      46.3% |

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

| Gross            |          |          |     204.5 |      187.4 |      217.5 |

| investments in   |          |          |           |            |            |

| non-current      |          |          |           |            |            |

| assets (EUR      |          |          |           |            |            |

| million)         |          |          |           |            |            |

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

| Gross            |          |          |     38.6% |      41.2% |      34.3% |

| investments, %   |          |          |           |            |            |

| of net sales     |          |          |           |            |            |

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

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

| Personnel,       |          |          |     4,032 |      3,346 |      3,407 |

| average          |          |          |           |            |            |

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

| Personnel at end |          |          |     4,037 |      3,503 |      3,642 |

| of period        |          |          |           |            |            |

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



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



OPERATING ENVIRONMENT                                                           



Ramirent is a construction machinery and equipment rentals company, operating in

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

in Vantaa and has 361 (299) permanent outlets in thirteen countries.            



In the Nordic region, the level of construction activities remained high in     

Finland and Sweden, while it weakened in Norway and Denmark. In Central and     

Eastern European countries, the construction market continued to grow, 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 markets. However, due to the global financial crisis and the   

economic slowdown, the operating environment continues to become more           

challenging.                                                                    



GROUP NET SALES AND PROFIT                                                      



Investments in new capacity and acquisitions contributed to net sales growth by 

16.7% to EUR 530.1 (454.5) million. Growth was strongest in Europe Central      

(+72%). The growth has slowed down in many segments in the third quarter;       

overall the growth in the third quarter was 13%. The growth was primarily       

organic. The net sales by segment were as follows:                              



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

| (EUR million)       |7-9/2008|7-9/2007| Change | 1-9/2008| 1-9/2007|  Change |

|                     |        |        |        |         |         |         |

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

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

| Finland             |   42.9 |   35.8 |  19.8% |   115.6 |    97.5 |   18.6% |

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

| Sweden              |   42.1 |   37.2 |  13.4% |   129.2 |   109.7 |   17.7% |

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

| Norway              |   36.8 |   36.1 |   1.9% |   112.4 |   104.2 |    7.9% |

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

| Denmark             |   14.0 |   15.0 |  -6.8% |    42.7 |    41.5 |    2.9% |

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

| Europe East         |   25.6 |   26.4 |  -3.3% |    69.0 |    64.8 |    6.5% |

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

| Europe Central      |   27.4 |   15.5 |  76.3% |    65.0 |    37.9 |   71.7% |

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



The Group's operating profit (EBIT) for the review period was EUR 99.4 (111.2)  

million. The negative market development in Norway and Denmark, as well as in   

the Baltic countries and Hungary affected the Group level profitability. Costs  

for expanding the outlet network and entering new markets also burdened         

profitability. Lower capacity utilization and a more challenging pricing        

environment in combination with increased fixed costs are affecting profits     

negatively. Cost reductions have been initiated to adapt to the changes in the  

market situation. The fleet is being optimized in every country and excess      

capacity relocated. The measures aim to defend profitability and generate cash  

flow. The Group's operating margin was 18.8% (24.5%). The operating margins by  

segments were as follows:                                                       



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

|       |    7-9/2008    |    7-9/2007     |    1-9/2008     |    1-9/2007     |

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

|       |   EUR | EBIT-% |    EUR | EBIT-% |    EUR | EBIT-% |    EUR | EBIT-% |

|       |million|        | million|        | million|        | million|        |

|       |       |        |        |        |        |        |        |        |

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

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

| Finla |  11.3 |  26.3% |   11.5 |  32.2% |   27.6 |  23.9% |   26.2 |  26.8% |

| nd    |       |        |        |        |        |        |        |        |

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

| Swede |   8.9 |  21.0% |    8.9 |  24.0% |   28.2 |  21.8% |   23.9 |  21.8% |

| n     |       |        |        |        |        |        |        |        |

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

| Norwa |   6.2 |  16.8% |    9.3 |  25.7% |   20.9 |  18.6% |   25.4 |  24.3% |

| y     |       |        |        |        |        |        |        |        |

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

| Denma |   0.7 |   4.7% |    2.7 |  17.8% |    3.1 |   7.4% |    6.5 |  15.5% |

| rk    |       |        |        |        |        |        |        |        |

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

| Europ |   3.6 |  14.1% |    9.5 |  35.9% |   11.5 |  16.6% |   20.4 |  31.5% |

| e     |       |        |        |        |        |        |        |        |

| East  |       |        |        |        |        |        |        |        |

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

| Europ |   4.7 |  17.2% |    4.3 |  27.9% |    8.2 |  12.6% |    9.3 |  24.5% |

| e     |       |        |        |        |        |        |        |        |

| Centr |       |        |        |        |        |        |        |        |

| al    |       |        |        |        |        |        |        |        |

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





The net financial items increased to EUR -15.9 (-9.0) million and included a    

non-cash item of EUR -3.8 million due to the hedging of the long-term incentive 

programs.                                                                       



The Group's profit before taxes for the review period was EUR 83.5 (102.3)      

million. The net profit for the review period was EUR 61.6 (77.7) million. The  

return on invested capital was 24.4% (29.1%) and the return on equity was 28.6  

(45.1%).                                                                        



COST REDUCTION PROGRAM                                                          



Ramirent has started cost reduction programs in the most of its thirteen        

operating countries. The country specific action plans aim to defend            

profitability and generate cash flow over the years 2008-2009.                  



The planned cost savings include reduction of employees in the selected         

countries. The number of employees will be continuously adjusted to market      

demands. The reduction of personnel has already started. Overall, the action    

plans are expected to generate substantial improvement in cash flow by the end  

of the year 2009.                                                               



The fleet in each country has been reviewed and equipment with low utilisation  

or low price level is primarily transferred to other Ramirent countries or sold 

to third parties. At this stage, no closing of outlets is planned other than    

normal development of the outlet network.                                       



Contingency plans are developed to address the risk of further market decline   

and to be prepared to implement changes when needed.                            



CAPITAL EXPENDITURE AND DEPRECIATION                                            



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

EUR 204.5 (187.4) million of which EUR 168.9 (185.2) million was machinery and  

equipment. The total gross capital expenditure includes estimated additional    

consideration for acquisitions.                                                 



Group goodwill totalled EUR 101.1 (76.9) million at the end of the review       

period.                                                                         



FINANCIAL POSITION AND BALANCE SHEET                                            



The Group's cash flow for the first nine months from operating activities was   

positive, amounting to EUR 109.8 (122.3) million. Cash flow from investing      

activities amounted to EUR -169.3 (-168.1) million. Cash flow from financing    

activities totalled EUR 60.5 (46.3) million. At the end of the review period,   

liquid assets stood at EUR 2.2 (1.6) million, resulting in a net change in cash 

of EUR 1.0 (0.5) million compared to the year-end.                              



Ramirent's interest-bearing liabilities increased by EUR 127.5 million from     

year-end 2007 and totalled EUR 364.6 (266.1) million. Net debt amounted to EUR  

362.4 (264.5) million at the end of the review period. During the review period,

the Company paid EUR 54.3 (32.5) million in dividends. Gearing was 105.7%       

(84.1%) at the end of the period.                                               



Total assets amounted to EUR 877.0 (744.0) million and the Group's equity ratio 

was 39.1% (42.3%).                                                              



Other receivables as per 30 September 2008 include a deposit of EUR 2.7 million 

in Kaupthing Bank hf., Finnish Branch related to the long-term incentive program

to key management.                                                              



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;    

however, in the third quarter there was no growth in Denmark and in Europe East.



Finland                                                                         



In Finland, business operations continued to grow. Net sales increased by 19%   

and totalled EUR 115.6 (97.5) million. Despite of the slowdown in residential   

construction, the total market grew based on strong development in the overall  

construction market, shipyards and industrial projects. The operating profit    

(EBIT) was EUR 27.6 (26.2) million and the operating profit margin (EBIT-%)     

decreased to 23.9% (26.8%). Increased usage of operational leasing had a        

slightly negative effect on EBIT-margins.                                       



Sweden                                                                          



In Sweden, the growth and profitability improvement continued. Due to good      

market development and the acquisition of Hyresmaskiner i Stockholm AB at       

year-end 2007, net sales grew by 18% to EUR 129.2 (109.7) million. The operating

profit margin (EBIT-%) was 21.8% (21.8%). The operating profit (EBIT) increased 

to EUR 28.2 (23.9) million due to better utilization of the fleet and           

organisational resources as well as an enhanced outlet network and new customer 

groups.                                                                         



Norway                                                                          



In Norway, Ramirent's Norwegian subsidiary Bautas AS's net sales increased by 8%

to EUR 112.4 (104.2) million. The operating profit (EBIT) decreased to EUR 20.9 

(25.4) million and the operating profit margin (EBIT-%) was 18.6% (24.3%). The  

profitability was burdened by cost increases and lower utilisation in certain   

product and geographical areas. Cost reductions were initiated to adapt to a    

weaker market.                                                                  



Denmark                                                                         



In Denmark, net sales grew during the review period by 3% to EUR 42.7 (41.5)    

million. However, in the third quarter, net sales decreased by 7%. Aggressive   

market competition has lowered price levels at the same time as overall costs   

have increased. The operating profit (EBIT) was EUR 3.1 (6.5) million, and the  

operating profit margin (EBIT-%) was 7.4% (15.5%). The cost structure is being  

reviewed and streamlined.                                                       



Europe East                                                                     



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

Lithuania and Ukraine) grew by 7% to EUR 69.0 (64.8) million. Sales decreased in

Estonia and Latvia, while strong growth continued in Russia and Ukraine. In     

Lithuania, sales started to decrease in the third quarter. The operating margin 

(EBIT-%) decreased to 16.6% (31.5%) due to the negative development in Estonia  

and Latvia and also partly in Lithuania. Operating profit (EBIT) decreased to   

EUR 11.5 (20.4) million. Cost action plans including transfers of equipment have

been implemented in all Baltic countries.                                       



Europe Central                                                                  



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

Republic and Slovakia) continued to grow rapidly. Net sales increased by 72% to 

EUR 65.0 (37.9) million. Investments in new capacity, the entry into Slovakia   

and expansion of the outlet network in Poland and the Czech Republic have       

improved Ramirent's overall market position. Opening of new outlets in Poland,  

the Czech Republic and Slovakia and the negative development in Hungary         

decreased the operating profit (EBIT) to EUR 8.2 (9.3) million. The operating   

profit margin (EBIT-%) was 12.6% (24.5%). Cost control actions are prioritized  

and the operations of Hungary are being rationalized to improve profitability.  



PERSONNEL AND ORGANISATION                                                      



The number of employees and outlets by segment were as follows:                 



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

|                  |      Employees (average)       | Outlets on 30 September  |

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

|                  |     1-9/2008  |      1-9/2007  |        2008 |       2007 |

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

| Finland          |           722 |            681 |          95 |         95 |

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

| Sweden           |           658 |            591 |          56 |         48 |

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

| Norway           |           681 |            623 |          40 |         37 |

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

| Denmark          |           255 |            231 |          19 |         17 |

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

| Europe East      |           682 |            573 |          52 |         47 |

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

| Europe Central   |         1,016 |            635 |          99 |         55 |

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

| Group            |            18 |             12 |             |            |

| administration   |               |                |             |            |

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

| Total            |         4,032 |          3,346 |         361 |        299 |

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



BUSINESS RISKS                                                                  



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

Report 2007. The main risks affecting Ramirent's business operations are related

to the economic cycles in the construction industry and increased competition.  

Ramirent is also subject to certain financial risks, such as currency           

fluctuations, interest rate fluctuations, credit risk and liquidity risk.       



The Company believes the risk exposure has increased in 2008 due to the turmoil 

and credit tightening in the financial markets and the economic cycle of the    

construction markets. The financial crisis has led to an increased cautiousness 

among customers when it comes to deciding on investments and new projects. The  

present conditions in the financial market limit the accessibility to credits   

which may negatively affect customers, suppliers as well as the Ramirent Group. 

If market demand declines, there is risk of overcapacity and increased price    

competition. As the business environment has in general become less benign in   

our markets, Ramirent has implemented stricter risk management routines. The    

capital expenditure plans have been reduced to reflect the market conditions,   

transfer of excess fleet capacity is continuously evaluated to avoid            

overcapacity, and the cost structures are under review. Ramirent is closely     

monitoring credits and there are regular controls that necessary provisions are 

made for doubtful receivables. Ramirent has also updated its finance policy to  

increase the amount of committed back-up facilities to reduce the liquidity     

risk. Ramirent has only limited refinancing needs before the year 2010.         

Impairment of goodwill is reviewed quarterly. However, the challenging market   

and financial conditions could have an impact on the annual goodwill tests      

during the fourth quarter.                                                      





SHARES AND SHARE CAPITAL                                                        



On 8 May, 2008, Ramirent's Board of Directors decided to cancel 1,108 of the    

Company's shares that were returned to the Company according to the terms and   

conditions of the 2006 incentive scheme.                                        



On 30 September, 2008, Ramirent's share capital was EUR 25,000,000.00 divided   

into 108,697,328 shares.                                                        



SHARE TURNOVER AND PERFORMANCE                                                  



During the review period, 109,270,757 (73,406,622) shares were traded on the    

NASDAQ OMX Helsinki at a total value of EUR 893,741,565 (1,261,419,743), i.e.   

100.5% (67.6%) of Ramirent's total share stock was traded.  The last quotation  

on the period's last trading day was EUR 4.39 (15.19). The highest price quoted 

in the review period was EUR 12.68 (22,16), the lowest EUR 4.14 (11.02)  and the

average price of the period was EUR 8.25 (16.95). The Company's market value at 

the end of the period under review was EUR 477,181,270 (1,648,692,888).         





SHAREHOLDERS                                                                    



The ten principal shareholders on 30 September, 2008 were:                      



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

|                                      | Shares            |   % of shares and |

|                                      |                   |             votes |

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

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

| Nordstjernan AB                      |        31,186,331 |            28.69% |

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

| Oy Julius Tallberg Ab                |        11,962,229 |            11.01% |

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

| Varma Mutual Pension Insurance       |         7,951,299 |             7.32% |

| Company                              |                   |                   |

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

| Ilmarinen Mutual Pension Insurance   |         2,862,164 |             2.63% |

| Company                              |                   |                   |

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

| Odin Norden                          |         2,026,160 |             1.86% |

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

| Odin Forvaltnings AS                 |         1,548,759 |             1.42% |

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

| Odin Europa SMB                      |         1,401,231 |             1.29% |

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

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

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

| Fondita Nordic Small Cap Investment  |           900,000 |             0.83% |

| Fund                                 |                   |                   |

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

| Veritas Pension Insurance Company    |           870,000 |             0.80% |

| Ltd.                                 |                   |                   |

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

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

| Nominee-registered shareholders      |        18,455,454 |            16.98% |

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

| Other shareholders                   |        28,613,701 |            26.32% |

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

| Total                                |       108,697,328 |            100.0% |

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



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 long-term    

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.               



RESIGNATION OF A BOARD MEMBER, APPOINTMENT OF NEW PRESIDENT AND CEO             



On 5 August 2008, Mr. Freek Nijdam resigned from the Ramirent Board of Directors

due to health reasons. Mr. Nijdam was a Ramirent Board member since 2007. The   

Ramirent Board of Directors currently consists of the following six members: Mr.

Peter Hofvenstam (chairman), Mrs. Susanna Renlund (vice-chairman), Mr.          

Kaj-Gustaf Bergh, Mr. Torgny Eriksson, Mr. Ulf Lundahl and Mr. Erkki Norvio.    



On 4 September 2008, the Board of Directors appointed Mr. Magnus Rosén new      

President and CEO of the Ramirent Group. Magnus Rosén is expected to assume his 

position as of January 15, 2009.                                                



OUTLOOK 2008                                                                    



The global financial crisis and the recessionary economic outlook will have a   

negative effect on Ramirent's business activities for the rest of the year.     

                                                                                

In the Nordic region, the Company estimates the construction output growth in   

Sweden and Finland to slow down, and even decrease in Denmark and Norway. In    

Central and Eastern Europe, Ramirent expects growth to continue in most of the  

construction markets during 2008, except in the Baltics and Hungary where the   

construction markets have distinctly slowed down. However, there is a risk of a 

wider slowdown in Ramirent's markets due to the financial crisis.               

                                                                                

Ramirent will reinforce the actions to adjust the cost level and fleet capacity 

to the new market situation. Capital expenditure plans have been revised and the

Company will intensify the process of re-allocating excess fleet capacity to    

markets with more favourable conditions.                                        



Contingency plans are developed to address the risk of a further market decline 

and to be prepared to rapidly implement change where needed.                    

                                                                                

While Ramirent will continue to execute its long-term growth strategy, the      

Company is prepared to weather this downturn with its strong balance sheet and  

solid cash generation. To ensure profitability, operations have been reviewed to

increase efficiency and flexibility. Ramirent shall streamline the cost         

structure, review assets and continue the efforts to generate cash flow and     

defend profitability. These measures can have an unfavourable impact on the     

fourth quarter earnings. However, Ramirent views these actions necessary for    

managing the reality of the market situation in 2009.                           

                                                                                

Ramirent estimates that for the full-year 2008, net sales growth to continue,   

but the profit before taxes and earnings per share to be clearly below 2007     

levels.                                                                         





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. 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. The 

operating profit includes a non-recurring gain from the divestment of           

properties, which has not been allocated to any segment.                        





QUARTERLY SEGMENT INFORMATION                                                   



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

| (EUR    | 7-9/08 | 4-6/08 | 1-3/08 | 7-9/07 | 4-6/07  |   1-3/07 |   1-12/07 |

| million |        |        |        |        |         |          |           |

| )       |        |        |        |        |         |          |           |

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

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

| Net     |        |        |        |        |         |          |           |

| sales   |        |        |        |        |         |          |           |

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

| Finland |   42.9 |   39.3 |   33.4 |   35.8 |    34.6 |     27.1 |     133.6 |

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

| Sweden  |   42.1 |   45.4 |   41.7 |   37.2 |    36.7 |     35.8 |     152.6 |

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

| Norway  |   36.8 |   38.5 |   37.1 |   36.1 |    33.3 |     34.8 |     145.9 |

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

| Denmark |   14.0 |   15.0 |   13.7 |   15.0 |    14.0 |     12.5 |      57.0 |

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

| Europe  |   25.6 |   23.4 |   20.0 |   26.4 |    21.0 |     17.4 |      91.0 |

| Group   |        |        |        |        |         |          |           |

| East    |        |        |        |        |         |          |           |

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

| Europe  |   27.4 |   21.0 |   16.6 |   15.5 |    12.8 |      9.5 |      55.4 |

| Group   |        |        |        |        |         |          |           |

| Central |        |        |        |        |         |          |           |

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

| Sales   |   -1.5 |   -1.8 |   -0.5 |   -0.2 |    -0.5 |     -0.4 |      -1.3 |

| between |        |        |        |        |         |          |           |

| segments|        |        |        |        |         |          |           |

|         |        |        |        |        |         |          |           |

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

| Net     |  187.2 |  180.8 |  162.1 |  165.8 |   152.0 |    136.6 |     634.3 |

| sales,  |        |        |        |        |         |          |           |

| total   |        |        |        |        |         |          |           |

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

| Other   |    0.5 |    1.1 |    1.7 |        |     2.8 |      0.3 |       5.8 |

| operati |        |        |        |        |         |          |           |

| ng      |        |        |        |        |         |          |           |

| income  |        |        |        |        |         |          |           |

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

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

| Operati |        |        |        |        |         |          |           |

| ng      |        |        |        |        |         |          |           |

| profit  |        |        |        |        |         |          |           |

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

| Finland |   11.3 |    9.8 |    6.5 |   11.5 |     8.3 |      6.4 |      34.8 |

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

| % of    |  26.3% |  25.0% |  19.6% |  32.2% |   23.9% |    23.6% |     26.1% |

| net     |        |        |        |        |         |          |           |

| sales   |        |        |        |        |         |          |           |

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

| Sweden  |    8.9 |   10.3 |    9.0 |    8.9 |     7.6 |      7.4 |      35.1 |

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

| % of    |  21.0% |  22.6% |  21.7% |  24.0% |   20.7% |    20.7% |     23.0% |

| net     |        |        |        |        |         |          |           |

| sales   |        |        |        |        |         |          |           |

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

| Norway  |    6.2 |    7.8 |    6.9 |    9.3 |     8.3 |      7.8 |      35.9 |

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

| % of    |  16.8% |  20.4% |  18.6% |  25.7% |   24.9% |    22.4% |     24.6% |

| net     |        |        |        |        |         |          |           |

| sales   |        |        |        |        |         |          |           |

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

| Denmark |    0.7 |    1.7 |    0.8 |    2.7 |     2.5 |      1.3 |      10.2 |

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

| % of    |   4.7% |  11.2% |   5.9% |  17.8% |   17.8% |    10.4% |     17.9% |

| net     |        |        |        |        |         |          |           |

| sales   |        |        |        |        |         |          |           |

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

| Europe  |    3.6 |    3.7 |    4.1 |    9.5 |     6.2 |      4.7 |      29.4 |

| East    |        |        |        |        |         |          |           |

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

| % of    |  14.1% |  16.0% |  20.6% |  35.9% |   29.4% |    27.2% |     32.3% |

| net     |        |        |        |        |         |          |           |

| sales   |        |        |        |        |         |          |           |

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

| Europe  |    4.7 |    2.0 |    1.5 |    4.3 |     2.7 |      2.2 |      12.9 |

| Central |        |        |        |        |         |          |           |

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

| % of    |  17.2% |   9.3% |   9.2% |  27.9% |   21.4% |    23.3% |     23.2% |

| net     |        |        |        |        |         |          |           |

| sales   |        |        |        |        |         |          |           |

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

| Operati |   -0.8 |    0.2 |    0.6 |   -0.7 |     0.9 |     -0.8 |      -0.8 |

| ng      |        |        |        |        |         |          |           |

| profit  |        |        |        |        |         |          |           |

| not     |        |        |        |        |         |          |           |

| allocat |        |        |        |        |         |          |           |

| ed to   |        |        |        |        |         |          |           |

| segment |        |        |        |        |         |          |           |

| s       |        |        |        |        |         |          |           |

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

| Group   |   34.5 |   35.5 |   29.5 |   45.7 |    36.5 |     29.0 |     157.5 |

| operati |        |        |        |        |         |          |           |

| ng      |        |        |        |        |         |          |           |

| profit  |        |        |        |        |         |          |           |

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

| % of    |  18.4% |  19.6% |  18.2% |  27.6% |   24.0% |    21.3% |     24.8% |

| net     |        |        |        |        |         |          |           |

| sales   |        |        |        |        |         |          |           |

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





Operating profit not allocated to segments consists of the capital gains from   

selling the properties (other operating income) and group costs.                





INCOME STATEMENT                                                                



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

| (EUR 1,000)      |   7-9/08 |   7-9/07 |    1-9/08 |     1-9/07 |    1-12/07 |

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

|                  |          |          |           |            |            |

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

| Net sales        |  187,230 |  165,826 |   530,134 |    454,458 |    634,257 |

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

| Other operating  |      476 |      365 |     3,278 |      3,509 |      5,825 |

| income           |          |          |           |            |            |

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

| TOTAL            |  187,706 |  166,191 |   533,412 |    457,967 |    640,083 |

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

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

| Materials and    |  -54,264 |  -44,190 |  -153,599 |   -124,501 |   -173,750 |

| services         |          |          |           |            |            |

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

| Employee benefit |  -43,940 |  -38,343 |  -130,682 |   -112,849 |   -152,970 |

| expenses         |          |          |           |            |            |

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

| Depreciation     |  -25,784 |  -21,273 |   -72,876 |    -57,963 |    -79,457 |

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

| Other operating  |  -29,284 |  -16,674 |   -76,841 |    -51,430 |    -76,361 |

| expenses         |          |          |           |            |            |

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

| OPERATING PROFIT |   34,434 |   45,711 |    99,415 |    111,224 |    157,545 |

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

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

| Financial income |    4,645 |      803 |     9,314 |      3,348 |      5,761 |

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

| Financial        |  -12,023 |   -6,259 |   -25,247 |    -12,320 |    -17,553 |

| expenses         |          |          |           |            |            |

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

| PROFIT BEFORE    |   27,057 |   40,255 |    83,483 |    102,252 |    145,753 |

| TAXES            |          |          |           |            |            |

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

| Income taxes     |   -6,641 |   -8,789 |   -21,911 |    -24,532 |    -35,541 |

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

| NET PROFIT FOR   |   20,416 |   31,466 |    61,572 |     77,720 |    110,212 |

| THE PERIOD       |          |          |           |            |            |

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

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

| Sharing of       |          |          |           |            |            |

| profit:          |          |          |           |            |            |

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

| To the parent    |   20,416 |   31,446 |    61,572 |     77,692 |    110,177 |

| company's        |          |          |           |            |            |

| shareholders     |          |          |           |            |            |

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

| To the Group's   |          |       20 |           |         28 |         36 |

| minority         |          |          |           |            |            |

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

| Sharing of       |   20,416 |   31,466 |    61,572 |     77,720 |    110,212 |

| profit, total    |          |          |           |            |            |

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

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

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

| Earnings per     |     0.19 |     0.29 |      0.57 |       0.72 |       1.02 |

| share (EPS),     |          |          |           |            |            |

| diluted, EUR     |          |          |           |            |            |

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

| Earnings per     |     0.19 |     0.29 |      0.57 |       0.72 |       1.02 |

| share (EPS),     |          |          |           |            |            |

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

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







BALANCE SHEET                                                                   



ASSETS                                                                          



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

| (EUR 1,000)                  |     30.9.2008 |    30.9.2007 |     31.12.2007 |

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

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

| NON-CURRENT ASSETS           |               |              |                |

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

| Tangible assets              |       595,744 |      508,057 |        505,098 |

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

| Investments in process       |         2,084 |        1,546 |            702 |

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

| Goodwill                     |       101,056 |       76,933 |         77,633 |

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

| Other intangible assets      |         3,949 |        1,516 |          2,011 |

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

| Available-for-sale           |            91 |           98 |             95 |

| investments                  |               |              |                |

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

| Deferred tax assets          |         5,273 |        3,113 |          2,170 |

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

| NON-CURRENT ASSETS, TOTAL    |       708,198 |      591,263 |        587,709 |

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

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

| CURRENT ASSETS               |               |              |                |

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

| Inventories                  |        25,788 |       20,706 |         22,155 |

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

| Trade and other receivables  |       135,436 |      128,720 |        122,873 |

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

| Income tax receivables on    |         4,871 |              |            225 |

| the taxable income for the   |               |              |                |

| financial period             |               |              |                |

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

| Cash and cash equivalents    |         2,173 |        1,641 |          1,200 |

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

| CURRENT ASSETS, TOTAL        |       168,268 |      151,067 |        146,453 |

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

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

| Non-current assets held for  |           558 |        1,616 |          2,967 |

| sale                         |               |              |                |

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

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

| TOTAL ASSETS                 |       877,024 |      743,946 |        737,129 |

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





EQUITY AND LIABILITIES                                                          



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

| (EUR 1,000)                   |    30.9.2008 |     30.9.2007 |    31.12.2007 |

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

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

| EQUITY                        |              |               |               |

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

| Share capital                 |       25,000 |        11,668 |        11,685 |

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

| Share premium fund            |            0 |       126,469 |       126,644 |

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

| Free equity fund              |      113,329 |               |               |

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

| Retained earnings             |      204,508 |       176,387 |       202,683 |

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

| PARENT COMPANY SHAREHOLDERS'  |      342,837 |       314,524 |       341,012 |

| EQUITY                        |              |               |               |

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

| Minority interests            |              |           104 |           107 |

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

| EQUITY, TOTAL                 |      342,837 |       314,628 |       341,119 |

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

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

| NON-CURRENT LIABILITIES       |              |               |               |

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

| Deferred tax liabilities      |       46,460 |        34,088 |        44,271 |

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

| Pension obligations           |        8,216 |         8,798 |         8,036 |

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

| Provisions                    |          992 |         1,080 |           987 |

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

| Interest-bearing liabilities  |      287,267 |       163,241 |       164,501 |

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

| NON-CURRENT LIABILITIES,      |      342,935 |       207,207 |       217,796 |

| TOTAL                         |              |               |               |

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

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

| CURRENT LIABILITIES           |              |               |               |

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

| Trade payables and other      |       90,002 |        91,015 |        89,007 |

| liabilities                   |              |               |               |

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

| Provisions                    |          172 |           523 |           463 |

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

| Income tax liabilities on the |       23,762 |        27,721 |        16,187 |

| taxable income for the        |              |               |               |

| financial period              |              |               |               |

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

| Interest-bearing liabilities  |       77,315 |       102,852 |        72,558 |

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

| CURRENT LIABILITIES, TOTAL    |      191,252 |       222,111 |       178,215 |

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

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

| LIABILITIES, TOTAL            |      534,187 |       429,318 |       396,011 |

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

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

| TOTAL EQUITY AND LIABILITIES  |      877,024 |       743,946 |       737,129 |

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





NOTES TO BALANCE SHEET                                                          



Changes in non-current assets                                                   



The total gross capital expenditure includes estimated additional consideration 

for acquisitions.                                                               



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.                                                 



Other receivables                                                               



Other receivables as per 30 September 2008 include a deposit of EUR 2.7 million 

in Kaupthing Bank hf., Finnish Branch related to the long-term incentive program

to key management.                                                              



Reduction of share premium fund                                                 



The Annual General Meeting decided 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. The reduction of the share

premium fund has been entered in Ramirent Plc's accounts in August 2008.        





CONDENSED CASH FLOW STATEMENT                                                   



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

| (EUR million)                        |     1-9/08 |      1-9/07 |    1-12/07 |

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

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

| Cash flow from operating activities  |      109.8 |       122.3 |      173.8 |

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

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

| Cash flow from investing activities  |     -169.3 |      -168.1 |     -192.7 |

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

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

| Cash flow from financing activities  |            |             |            |

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

|    Proceeds from share subscriptions |        0.0 |         0.5 |        0.7 |

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

| Borrowings/ repayments of short-term |        3.5 |       -40.1 |       50.5 |

| debt                                 |            |             |            |

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

|    Borrowings of long-term debt      |      111.3 |       118.4 |        0.3 |

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

|    Dividends paid                    |      -54.3 |       -32.5 |      -32.5 |

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

| Cash flow from financing activities  |       60.5 |        46.3 |       19.0 |

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

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

| Net change in cash and cash          |        1.0 |         0.5 |        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          |        1.0 |         0.5 |        0.1 |

| equivalents                          |            |             |            |

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

| Cash and cash equivalents at the end |        2.2 |         1.6 |        1.2 |

| of the period                        |            |             |            |

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





CHANGES IN EQUITY                                                               



A = Share capital                                                               

B = Share premium fund                                                          

C = Free equity fund                                                            

D = Translation differences                                                     

E = Revaluation fund                                                            

F = Retained earnings                                                           

G = Entries on non-current assets held for sale                                 

H = Parent company shareholders' equity                                         

I = Minority interest                                                           

J = Total equity                                                                



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

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

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

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

| 1,00 |      |       |      |      |      |       |     |       |     |       |

| 0)   |      |       |      |      |      |       |     |       |     |       |

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

| Equi | 11,6 | 126,0 |    - | 4,89 |  109 | 122,0 | 136 | 264,8 |  83 | 264,9 |

| ty   |   25 |    11 |      |    8 |      |    62 |     |    41 |     |    24 |

| 31.1 |      |       |      |      |      |       |     |       |     |       |

| 2.20 |      |       |      |      |      |       |     |       |     |       |

| 06   |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Tran |    - |     - |    - | 4,23 |    - |     - |   - | 4,238 |  -7 | 4,231 |

| s­la  |      |       |      |    8 |      |       |     |       |     |      

| 

| tion |      |       |      |      |      |       |     |       |     |       |

| dif­  |      |       |      |      |      |       |     |       |     |      

| 

| fer­  |      |       |      |      |      |       |     |       |     |      

| 

| ence |      |       |      |      |      |       |     |       |     |       |

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

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2007 |      |       |      |      |      |       |     |       |     |       |

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

| Fair |    - |     - |    - |    - | -390 |     - |   - |  -390 |   - |  -390 |

| valu |      |       |      |      |      |       |     |       |     |       |

| e    |      |       |      |      |      |       |     |       |     |       |

| ad­j  |      |       |      |      |      |       |     |       |     |      

| 

| ust­  |      |       |      |      |      |       |     |       |     |      

| 

| ment |      |       |      |      |      |       |     |       |     |       |

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

| in­t  |      |       |      |      |      |       |     |       |     |      

| 

| eres |      |       |      |      |      |       |     |       |     |       |

| t    |      |       |      |      |      |       |     |       |     |       |

| rate |      |       |      |      |      |       |     |       |     |       |

| SWAP |      |       |      |      |      |       |     |       |     |       |

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

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2007 |      |       |      |      |      |       |     |       |     |       |

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

| Inco |    - |     - |    - |    - |  102 |     - |   - |   102 |   - |   102 |

| me   |      |       |      |      |      |       |     |       |     |       |

| tax  |      |       |      |      |      |       |     |       |     |       |

| on   |      |       |      |      |      |       |     |       |     |       |

| di­r  |      |       |      |      |      |       |     |       |     |      

| 

| ectl |      |       |      |      |      |       |     |       |     |       |

| y to |      |       |      |      |      |       |     |       |     |       |

| eq­u  |      |       |      |      |      |       |     |       |     |      

| 

| ity  |      |       |      |      |      |       |     |       |     |       |

| en­t  |      |       |      |      |      |       |     |       |     |      

| 

| ries |      |       |      |      |      |       |     |       |     |       |

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2007 |      |       |      |      |      |       |     |       |     |       |

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

| En­t  |    - |     - |      | 4,23 | -288 |     - |   - | 3,950 |  -7 | 3,943

| 

| ries |      |       |      |    8 |      |       |     |       |     |       |

| di­r  |      |       |      |      |      |       |     |       |     |      

| 

| ectl |      |       |      |      |      |       |     |       |     |       |

| y to |      |       |      |      |      |       |     |       |     |       |

| eq­u  |      |       |      |      |      |       |     |       |     |      

| 

| ity  |      |       |      |      |      |       |     |       |     |       |

| (net |      |       |      |      |      |       |     |       |     |       |

| )    |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Net  |    - |     - |    - |    - |    - | 77,69 |   - | 77,69 |  28 | 77,72 |

| resu |      |       |      |      |      |     2 |     |     2 |     |     0 |

| lt   |      |       |      |      |      |       |     |       |     |       |

| for  |      |       |      |      |      |       |     |       |     |       |

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

| peri |      |       |      |      |      |       |     |       |     |       |

| od   |      |       |      |      |      |       |     |       |     |       |

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2007 |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Net  |    - |     - |    - | 4,23 | -288 | 77,69 |   - | 81,64 |  21 | 81,66 |

| of   |      |       |      |    8 |      |     2 |     |     2 |     |     3 |

| inco |      |       |      |      |      |       |     |       |     |       |

| me   |      |       |      |      |      |       |     |       |     |       |

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

| ex­p  |      |       |      |      |      |       |     |       |     |      

| 

| ense |      |       |      |      |      |       |     |       |     |       |

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

| for  |      |       |      |      |      |       |     |       |     |       |

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

| peri |      |       |      |      |      |       |     |       |     |       |

| od   |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Exer |   43 |   458 |    - |    - |    - |     - |   - |   501 |   - |   501 |

| ­cis  |      |       |      |      |      |       |     |       |     |      

| 

| ed   |      |       |      |      |      |       |     |       |     |       |

| shar |      |       |      |      |      |       |     |       |     |       |

| e    |      |       |      |      |      |       |     |       |     |       |

| op­t  |      |       |      |      |      |       |     |       |     |      

| 

| ions |      |       |      |      |      |       |     |       |     |       |

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2007 |      |       |      |      |      |       |     |       |     |       |

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

| Divi |    - |     - |    - |    - |    - | -32,4 |   - | -32,4 |   - | -32,4 |

| ­den  |      |       |      |      |      |    60 |     |    60 |     |    60

| 

| d    |      |       |      |      |      |       |     |       |     |       |

| dis­  |      |       |      |      |      |       |     |       |     |      

| 

| trib |      |       |      |      |      |       |     |       |     |       |

| u­ti  |      |       |      |      |      |       |     |       |     |      

| 

| on   |      |       |      |      |      |       |     |       |     |       |

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2007 |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Equi | 11,6 | 126,4 |    - | 9,13 | -179 | 167,2 | 136 | 314,5 | 104 | 314,6 |

| ty   |   68 |    69 |      |    6 |      |    94 |     |    24 |     |    28 |

| 30.9 |      |       |      |      |      |       |     |       |     |       |

| .200 |      |       |      |      |      |       |     |       |     |       |

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

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Tran |    - |     - |    - | -6,2 |    - |     - |   - | -6,23 |  -5 | -6,24 |

| s­la  |      |       |      |   36 |      |       |     |     6 |     |     1

| 

| tion |      |       |      |      |      |       |     |       |     |       |

| dif­  |      |       |      |      |      |       |     |       |     |      

| 

| fer­  |      |       |      |      |      |       |     |       |     |      

| 

| ence |      |       |      |      |      |       |     |       |     |       |

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

| 10-1 |      |       |      |      |      |       |     |       |     |       |

| 2/20 |      |       |      |      |      |       |     |       |     |       |

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

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

| Fair |    - |     - |    - |    - |   64 |     - |   - |    64 |   - |    64 |

| valu |      |       |      |      |      |       |     |       |     |       |

| e    |      |       |      |      |      |       |     |       |     |       |

| ad­j  |      |       |      |      |      |       |     |       |     |      

| 

| ust­  |      |       |      |      |      |       |     |       |     |      

| 

| ment |      |       |      |      |      |       |     |       |     |       |

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

| in­t  |      |       |      |      |      |       |     |       |     |      

| 

| eres |      |       |      |      |      |       |     |       |     |       |

| t    |      |       |      |      |      |       |     |       |     |       |

| rate |      |       |      |      |      |       |     |       |     |       |

| SWAP |      |       |      |      |      |       |     |       |     |       |

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

| 10-1 |      |       |      |      |      |       |     |       |     |       |

| 2/20 |      |       |      |      |      |       |     |       |     |       |

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

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

| Inco |    - |     - |    - |    - |  -17 |     - |   - |   -17 |   - |   -17 |

| me   |      |       |      |      |      |       |     |       |     |       |

| tax  |      |       |      |      |      |       |     |       |     |       |

| on   |      |       |      |      |      |       |     |       |     |       |

| di­r  |      |       |      |      |      |       |     |       |     |      

| 

| ectl |      |       |      |      |      |       |     |       |     |       |

| y to |      |       |      |      |      |       |     |       |     |       |

| eq­u  |      |       |      |      |      |       |     |       |     |      

| 

| ity  |      |       |      |      |      |       |     |       |     |       |

| en­t  |      |       |      |      |      |       |     |       |     |      

| 

| ries |      |       |      |      |      |       |     |       |     |       |

| 10-1 |      |       |      |      |      |       |     |       |     |       |

| 2/20 |      |       |      |      |      |       |     |       |     |       |

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

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

| En­t  |    - |     - |    - | -6,2 |   47 |     - |   - | -6,18 |  -5 | -6,19

| 

| ries |      |       |      |   36 |      |       |     |     9 |     |     4 |

| di­r  |      |       |      |      |      |       |     |       |     |      

| 

| ectl |      |       |      |      |      |       |     |       |     |       |

| y to |      |       |      |      |      |       |     |       |     |       |

| eq­u  |      |       |      |      |      |       |     |       |     |      

| 

| ity  |      |       |      |      |      |       |     |       |     |       |

| (net |      |       |      |      |      |       |     |       |     |       |

| )    |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Net  |    - |     - |    - |    - |    - | 32,48 |   - | 32,48 |   8 | 32,49 |

| resu |      |       |      |      |      |     5 |     |     5 |     |     3 |

| lt   |      |       |      |      |      |       |     |       |     |       |

| for  |      |       |      |      |      |       |     |       |     |       |

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

| peri |      |       |      |      |      |       |     |       |     |       |

| od   |      |       |      |      |      |       |     |       |     |       |

| 10 - |      |       |      |      |      |       |     |       |     |       |

| 12/2 |      |       |      |      |      |       |     |       |     |       |

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

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Net  |    - |     - |    - | -6,2 |   47 | 32,48 |   - | 26,29 |   3 | 26,29 |

| of   |      |       |      |   36 |      |     5 |     |     6 |     |     9 |

| inco |      |       |      |      |      |       |     |       |     |       |

| me   |      |       |      |      |      |       |     |       |     |       |

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

| ex­p  |      |       |      |      |      |       |     |       |     |      

| 

| ense |      |       |      |      |      |       |     |       |     |       |

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

| for  |      |       |      |      |      |       |     |       |     |       |

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

| peri |      |       |      |      |      |       |     |       |     |       |

| od   |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Exer |   17 |   175 |    - |    - |    - |     - |   - |   192 |   - |   192 |

| ­cis  |      |       |      |      |      |       |     |       |     |      

| 

| ed   |      |       |      |      |      |       |     |       |     |       |

| shar |      |       |      |      |      |       |     |       |     |       |

| e    |      |       |      |      |      |       |     |       |     |       |

| op­t  |      |       |      |      |      |       |     |       |     |      

| 

| ions |      |       |      |      |      |       |     |       |     |       |

| 10-1 |      |       |      |      |      |       |     |       |     |       |

| 2/20 |      |       |      |      |      |       |     |       |     |       |

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

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

|      |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Equi | 11,6 | 126,6 |    - | 2,90 | -132 | 199,7 | 136 | 341,0 | 107 | 341,1 |

| ty   |   85 |    44 |      |    0 |      |    79 |     |    12 |     |    19 |

| 31.1 |      |       |      |      |      |       |     |       |     |       |

| 2.20 |      |       |      |      |      |       |     |       |     |       |

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

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Tran |    - |     - |    - | -5,6 |    - |     - |   - | -5,65 |   - | -5,65 |

| s­la  |      |       |      |   51 |      |       |     |     1 |     |     1

| 

| tion |      |       |      |      |      |       |     |       |     |       |

| dif­  |      |       |      |      |      |       |     |       |     |      

| 

| fer­  |      |       |      |      |      |       |     |       |     |      

| 

| ence |      |       |      |      |      |       |     |       |     |       |

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

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2008 |      |       |      |      |      |       |     |       |     |       |

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

| Chan |    - |     - |    - |    - |    - |     - |   - |     - | -10 |  -107 |

| ge   |      |       |      |      |      |       |     |       |   7 |       |

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

| mi­n  |      |       |      |      |      |       |     |       |     |      

| 

| orit |      |       |      |      |      |       |     |       |     |       |

| y    |      |       |      |      |      |       |     |       |     |       |

| (net |      |       |      |      |      |       |     |       |     |       |

| )    |      |       |      |      |      |       |     |       |     |       |

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2008 |      |       |      |      |      |       |     |       |     |       |

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

| Fair |    - |     - |      |    - |  342 |     - |   - |   342 |   - |   342 |

| valu |      |       |      |      |      |       |     |       |     |       |

| e    |      |       |      |      |      |       |     |       |     |       |

| ad­j  |      |       |      |      |      |       |     |       |     |      

| 

| ust­  |      |       |      |      |      |       |     |       |     |      

| 

| ment |      |       |      |      |      |       |     |       |     |       |

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

| in­t  |      |       |      |      |      |       |     |       |     |      

| 

| eres |      |       |      |      |      |       |     |       |     |       |

| t    |      |       |      |      |      |       |     |       |     |       |

| rate |      |       |      |      |      |       |     |       |     |       |

| SWAP |      |       |      |      |      |       |     |       |     |       |

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

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2008 |      |       |      |      |      |       |     |       |     |       |

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

| Inco |    - |     - |      |    - |  -89 |     - |   - |   -89 |   - |   -89 |

| me   |      |       |      |      |      |       |     |       |     |       |

| tax  |      |       |      |      |      |       |     |       |     |       |

| on   |      |       |      |      |      |       |     |       |     |       |

| di­r  |      |       |      |      |      |       |     |       |     |      

| 

| ectl |      |       |      |      |      |       |     |       |     |       |

| y to |      |       |      |      |      |       |     |       |     |       |

| eq­u  |      |       |      |      |      |       |     |       |     |      

| 

| ity  |      |       |      |      |      |       |     |       |     |       |

| en­t  |      |       |      |      |      |       |     |       |     |      

| 

| ries |      |       |      |      |      |       |     |       |     |       |

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2008 |      |       |      |      |      |       |     |       |     |       |

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

| En­t  |    - |     - |      | -5,6 |  253 |     - |   - | -5,39 | -10 | -5,50

| 

| ries |      |       |      |   51 |      |       |     |     8 |   7 |     5 |

| di­r  |      |       |      |      |      |       |     |       |     |      

| 

| ectl |      |       |      |      |      |       |     |       |     |       |

| y to |      |       |      |      |      |       |     |       |     |       |

| eq­u  |      |       |      |      |      |       |     |       |     |      

| 

| ity  |      |       |      |      |      |       |     |       |     |       |

| (net |      |       |      |      |      |       |     |       |     |       |

| )    |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Net  |    - |     - |      |    - |    - | 61,57 |   - | 61,57 |   - | 61,57 |

| resu |      |       |      |      |      |     2 |     |     2 |     |     2 |

| lt   |      |       |      |      |      |       |     |       |     |       |

| for  |      |       |      |      |      |       |     |       |     |       |

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

| peri |      |       |      |      |      |       |     |       |     |       |

| od   |      |       |      |      |      |       |     |       |     |       |

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2008 |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Net  |    - |     - |    - | -5,6 |  253 | 61,57 |   - | 56,17 | -10 | 56,06 |

| of   |      |       |      |   51 |      |     2 |     |     4 |   7 |     7 |

| inco |      |       |      |      |      |       |     |       |     |       |

| me   |      |       |      |      |      |       |     |       |     |       |

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

| ex­p  |      |       |      |      |      |       |     |       |     |      

| 

| ense |      |       |      |      |      |       |     |       |     |       |

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

| for  |      |       |      |      |      |       |     |       |     |       |

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

| peri |      |       |      |      |      |       |     |       |     |       |

| od   |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Redu | 13,3 | -126, | 113, |    - |    - |     - |   - |     - |   - |     - |

| c­ti  |   15 |   644 |  329 |      |      |       |     |       |     |      

| 

| on   |      |       |      |      |      |       |     |       |     |       |

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

| Shar |      |       |      |      |      |       |     |       |     |       |

| e    |      |       |      |      |      |       |     |       |     |       |

| pre­  |      |       |      |      |      |       |     |       |     |      

| 

| mium |      |       |      |      |      |       |     |       |     |       |

| fund |      |       |      |      |      |       |     |       |     |       |

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2008 |      |       |      |      |      |       |     |       |     |       |

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

| Divi |    - |     - |    - |    - |    - | -54,3 |   - | -54,3 |   - | -54,3 |

| ­den  |      |       |      |      |      |    49 |     |    49 |     |    49

| 

| d    |      |       |      |      |      |       |     |       |     |       |

| dis­  |      |       |      |      |      |       |     |       |     |      

| 

| trib |      |       |      |      |      |       |     |       |     |       |

| u­ti  |      |       |      |      |      |       |     |       |     |      

| 

| on   |      |       |      |      |      |       |     |       |     |       |

| 1-9/ |      |       |      |      |      |       |     |       |     |       |

| 2008 |      |       |      |      |      |       |     |       |     |       |

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

|      |      |       |      |      |      |       |     |       |     |       |

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

| Equi | 25,0 |     - | 113, | -2,7 |  121 | 207,0 | 136 | 342,8 |   - | 342,8 |

| ty   |   00 |       |  329 |   51 |      |    02 |     |    37 |     |    37 |

| 30.9 |      |       |      |      |      |       |     |       |     |       |

| .200 |      |       |      |      |      |       |     |       |     |       |

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

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







KEY FIGURES                                                                     



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

|                                |       1-9/08 |       1-9/07 |       1-12/07 |

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

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

| Interest-bearing debt, (EUR    |        364.6 |        266.1 |         237.1 |

| million)                       |              |              |               |

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

| Net debt, (EUR million)        |        362.4 |        264.5 |         235.9 |

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

| Invested capital (EUR          |        707.4 |        580.7 |         578.2 |

| million), end of period        |              |              |               |

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

| Return on invested capital     |        24.4% |        29.1% |         31,7% |

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

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

| Gearing, %                     |       105.7% |        84.1% |         69,2% |

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

| Equity ratio, %                |        39.1% |        42.3% |         46,3% |

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

| Personnel, average             |        4,032 |        3,346 |         3,407 |

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

| Personnel, end of period       |        4,037 |        3,503 |         3,642 |

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

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

| Gross investments in           |        204.5 |        187.4 |         217.5 |

| non-current assets (EUR        |              |              |               |

| million)                       |              |              |               |

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

| Gross investments, % of net    |        38.6% |        41.2% |         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                                                           



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

|                             |         1-9/08 |        1-9/07 |       1-12/07 |

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

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

| Earnings per share (EPS)    |           0.57 |          0.72 |          1.02 |

| weighted average, diluted,  |                |               |               |

| EUR                         |                |               |               |

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

| Earnings per share (EPS)    |           0.57 |          0.72 |          1.02 |

| weighted average,           |                |               |               |

| non-diluted, EUR            |                |               |               |

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

| Equity per share, end of    |                |          2.89 |          3.14 |

| period, diluted, EUR        |                |               |               |

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

| Equity per share, end of    |           3.15 |          2.90 |          3.14 |

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

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

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

| Number of shares (weighted  |                |   108,475,749 |   108,517,711 |

| average), diluted           |                |               |               |

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

| Number of shares (weighted  |    108,697,890 |   108,364,919 |   108,422,225 |

| average), non-diluted       |                |               |               |

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

| Number of shares (end of    |                |   108,648,874 |   108,698,436 |

| period), diluted            |                |               |               |

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

| Number of shares (end of    |    108,697,328 |   108,538,044 |   108,698,436 |

| period), non-diluted        |                |               |               |

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



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

per share.                                                                      





CHANGES IN NON-CURRENT ASSETS                                                   



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

|   |                         |  30.9.2008 |    |  30.9.2007 |    | 31.12.2007 |

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

|   |                         |            |    |            |    |            |

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

| OPENING BALANCE             |    584.837 |    |    462.250 |    |    462.250 |

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

| Depreciation                |    -72.876 |    |    -57.963 |    |    -79.457 |

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

| Additions                   |            |    |            |    |            |

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

|   | Machinery & equipment   |    168.867 |    |    185.249 |    |    211.926 |

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

|   | Other additions         |      3.354 |    |      1.388 |    |      1.528 |

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

|   | Acquired group          |     32.269 |    |        786 |    |      5.268 |

|   | companies               |            |    |            |    |            |

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

|   |                         |    204.490 |    |    187.423 |    |    218.723 |

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

|   |                         |            |    |            |    |            |

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

| Disposals                   |    -11.302 |    |     -9.365 |    |    -15.104 |

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

| Reclassifications           |        367 |    |        372 |    |     -1.494 |

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

| Translation difference      |     -4.676 |    |      3.888 |    |        -80 |

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

| CLOSING BALANCE             |    700.840 |    |    586.604 |    |    584.838 |

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

|   |                         |            |    |            |    |            |

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

|   |                         |            |    |            |    |            |

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

|   |                         |            |    |            |    |            |

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

| Non-current assets held for |        558 |    |      1.616 |    |      2.967 |

| sale                        |            |    |            |    |            |

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





CONTINGENT LIABILITIES                                                          



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

| (EUR million)                 |    30.9.2008 |     30.9.2007 |    31.12.2007 |

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

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

| Real estate mortgages         |          0.2 |             - |             - |

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

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

| which the above collateral is |              |               |               |

| given                         |              |               |               |

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

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

| Floating charges              |          1.9 |          75.8 |           0.0 |

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

| Other pledged assets          |            - |             - |           0.1 |

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

| Interest-bearing debt for     |          0.2 |         186.0 |           0.0 |

| which the above collateral is |              |               |               |

| given                         |              |               |               |

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

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

| Suretyships                   |          3.3 |           2.5 |           2.8 |

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

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

| Committed investments in      |          7.9 |          18.4 |          86.4 |

| non-current assets            |              |               |               |

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

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

| Non-cancellable minimum       |        156.1 |         114.2 |         127.7 |

| future operating lease        |              |               |               |

| payments                      |              |               |               |

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

| Non-cancellable minimum       |          1.6 |           3.1 |           2.5 |

| future finance lease payments |              |               |               |

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

| Finance lease debt in the     |         -1.5 |          -3.0 |          -2.4 |

| balance sheet                 |              |               |               |

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

| Non-cancellable minimum       |        156.2 |         114.3 |         127.8 |

| future lease payments         |              |               |               |

| off-balance sheet             |              |               |               |

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

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

| Obligations arising from      |              |               |               |

| derivative istruments         |              |               |               |

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

| Nominal value of underlying   |        121.0 |         167.2 |         122.0 |

| object                        |              |               |               |

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

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

| instruments                   |              |               |               |

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





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

EUR 121.0 (167.2) million.                                                      



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

other financial covenants. Ramirent's financial ratios are 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.                          





LIVE AUDIOCAST AND CONFERENCE CALL ON 7 NOVEMBER, 2008 AT 10:00 AM LOCAL TIME   



A briefing for investment analysts and the press will be arranged on Friday 7   

November, 2008 at 10.00 a.m. at WTC Sodexo, World Trade Center Helsinki,        

conference room “Marskin sali” (address: Aleksanterinkatu 17, Helsinki). The    

briefing can be followed via live audiocast and a conference call at            

www.ramirent.com. Dial-in number for conference call: +44 (0)20 3037 9099.      





This interim report is non-audited.                                             



Vantaa, 7 November 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:                                                                   

NASDAQ OMX Helsinki                                                             

Main news media                                                                 

www.ramirent.com                                                                





Ramirent is a leading machinery and equipment rentals company in Northern,      

Central and Eastern Europe. The Group has 4,000 employees working at 360 outlets

in thirteen countries. In 2007, Group consolidated net sales were EUR 634       

million. Ramirent is listed on the NASDAQ OMX Helsinki Ltd. For further         

information, please visit www.ramirent.com.

rami q308 eng 3.pdf