PRESS RELEASE - 21st October2008 
MICHELDEVER ON TRACK IN TOP LEAGUE TABLE

Micheldever Group jumps 49 places in Sunday Times HSBC Top Track 250

Micheldever – the UK’s largest independent tyre wholesaler, distributor and retailer – has jumped 49 places to 154th position in the annual Sunday Times HSBC Top Track 250 league table of the best performing mid-market private companies, after achieving an impressive annual sales total of more than £224 million in the last financial year, an increase of almost 33% on the previous year’s performance. They were the only tyre company to make it into the prestigious listing.

The league table, co-sponsored by PricewaterhouseCoopers LLP, ranks Britain's 250 biggest mid-market private companies by their latest sales, which range between £167m and £536m. In addition to retailers from the automotive industry, corporations span across numerous sectors which include construction, IT and property.

Elated at this year’s ranking in the Top Track 250 League Table, Paul Fox, Chief Executive explains: “The Micheldever Group’s prominence in this year’s Sunday Times HSBC Top Track 250 underlines our position as the UK’s largest and most profitable tyre distribution business, achieved by providing our customers with unbeatable quality, service and value.” The substantial growth has come from both wholesale and retail operations. New warehouses have been opened in Walsall and Warrington, bringing the total to ten, with more to come. A new Logistics Director, previously the ‘cutting edge’ Director of Logistics for the Kingfisher/B&Q operations, is developing greater efficiencies and even better customer service. Micheldever are on track to distribute six million tyres this year.

Retail operations have been doubled in size through the acquisition of existing wholesale customer businesses. Each acquisition has been carefully planned so as not to conflict with other Micheldever wholesale customers. There are substantial further funds in place to continue this strategy.

Micheldever will continue to fly the flag for the larger UK independent tyre dealer. As always, it will provide the very best service with the highest levels of availability and most competitive pricing. Equally important, it will not compete with its own customers by opening new retail sites or supplying local car dealer businesses, best serviced by local independents. Micheldever has been, and will remain, the champion of the independent tyre dealer.

For further press information please contact Automotive PR on +44 (0) 20 7494 8050

About Micheldever Tyre Services & Protyre

Micheldever Tyre Services (MTS) was founded in 1972 as a part-time venture providing car servicing and tyres. Today, the company is the largest independent wholesaler, distributor and retailer of tyres in the UK. Selling six million tyres in 2007/08 – 20 percent of the total UK market – annual turnover for 2008/09 is forecast to be over £250 million. In addition to offering MTS car, motorcycle and off-road tyres MTS also fits exhausts, brakes and shock absorbers.

MTS has two main business units: -

The Protyre retail chain, currently with 32 outlets including Protyre Motorsport, continues to gain geographic coverage in the UK through new acquisitions.
MTS has established a wholesale distribution network of 10 sites around the UK supplying over 4,500 retailers nationwide. This activity has resulted in significant profitable growth for the company.

MTS is managed by a team headed by Paul Fox and Richard Sawney with backing from Graphite Capital and Royal Bank of Scotland (RBS).