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April 20, 2005

UK: Eight MG Rover national sales companies in Europe go into administration

Tony Lomas, Steven Pearson and Rob Hunt, partners in PricewaterhouseCoopers, have now been appointed joint administrators to eight European subsidiaries of MG Rover Group Limited.

Tony Lomas, Steven Pearson and Rob Hunt, partners in PricewaterhouseCoopers , have now been appointed joint administrators to eight European subsidiaries of MG Rover Group Limited.

The national sales companies – MG Rover Deutschland GMBH, MG Rover Nederland B.V., MG. Rover Belux S.A./N.V., MG Rover España S.A., MG Rover Italia SPA, MG Rover Portugal-Veículos e Peças LDA, Rover France SAS and Rover Ireland Limited – act as sales centres between MG Rover UK and dealers within each European region, providing a link between the manufacturing side of its business and its distribution channels in Europe by co- ordinating MG Rover branding, sales and marketing and logistics and transportation support.

The administrators intend to continue to trade the businesses as usual while they explore options, particularly in respect of the businesses’ unsold European specification (that means left-hand drive, except in Ireland) vehicles.

The appointments have been taken under a European insolvency regulation which is likely to deliver the best outcome for the companies as they continue to trade.

Lomas said: “Our appointments as administrators to all of the national sales companies across Europe should enable us to handle local customer and dealer issues in a more constructive manner.

“Additionally, it will ensure the supply of left hand drive vehicles to the market is carried out in a controlled way for the benefit of all concerned.”

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