NES Rentals Names New President and CEO

June 16, 2004- NES Rentals Holdings, Inc., Chicago , Ill. , has named Andrew Studdert its new president and chief executive officer. Studdert, who is the former chief operating officer of UAL Corporation/United Airlines, took over the position earlier this month.

"[Studdert] is a dynamic and experienced leader with a diverse background that will greatly benefit NES as it grows and continues to capture market share. His background and accomplishments in the transportation sector truly set him apart from his peers," said NES Chairman John Neafsey.

Studdert served in various positions at United Airlines from 1995 to 2002. During his tenure as chief operating officer, he led United to its highest ratings in company history for on-time performance and customer service, completed the company's largest cost-reduction effort, and guided the airline through the September 11 crisis.

His operations background in technology, banking, and finance, makes him particularly well-suited for NES, Neafsey said. "As chief information officer of United, Mr. Studdert was responsible for significant upgrade of the systems infrastructure at the company, and he will be applying those operations skills to provide overall leadership to improving and enhancing NES's system infrastructure. His banking background, particularly in accounting and finance, are also a good fit for NES," which is completing a restructuring in large part due to a significant debt burden caused by an aggressive acquisitions profile.