RNS Number:4984N
Hays PLC
14 July 2003

HAYS PLC

DISPOSAL OF HAYS IMS


12 JULY 2003

Hays plc announces that it has agreed to sell its Information Management
Services (IMS) business to Iron Mountain Europe Limited for total cash proceeds
of #200 million on a cash and debt free basis.  Completion is expected to take
place by no later than Friday 18 July 2003.

Hays IMS provides records and information management services in the UK,
Continental Europe and the US.  It serves customers in a range of sectors
including energy, healthcare, financial services, pharmaceuticals and the public
sector.  Hays IMS generated turnover of #88.3 million, operating profit of #13.0
million and EBITDA of #19.2 million in the year ended 30 June 2002.

The consideration is subject to certain post-completion adjustments relating
principally to working capital and capital expenditure.  After accounting for
these items, tax and transaction costs, the net proceeds are expected to amount
to approximately #170 million.  The tangible net assets being disposed of are
approximately #100 million.  Goodwill of #63.2 million relating to the business
has previously been charged directly to reserves and will be offset against the
profit on disposal.

The proceeds of the disposal will be used to pay down debt.  In line with the
announcement made on 4 March 2003, Hays expects to return surplus cash proceeds
from the disposal programme to shareholders in due course.

Hays was advised on the transaction by Citigroup.

Colin Matthews, Chief Executive Officer of Hays plc, commented:

"I am delighted with today's announcement of the disposal of Hays IMS to Iron
Mountain Europe Limited.  This represents an important milestone following our
announcement in March of the transformation of Hays into a focused personnel
business.  Iron Mountain has a great reputation for customer service in this
market and we are confident that the business and employees of Hays IMS will
flourish in their new home."

Hays will announce its preliminary results on 9 September 2003.

ENQUIRIES

Hays plc                                                      +44 (0)1483 302203
Colin Matthews, Chief Executive Officer
John Martin, Group Finance Director

Brunswick                                                   +44 (0) 20 7404 5959
Jon Coles                                                          07974 982 312

Citigroup Global Markets Limited is acting for Hays plc and no-one else in
connection with the disposal and will not be responsible to any other person for
providing the protections afforded to clients of Citigroup Global Markets
Limited or for providing advice in relation to the disposal.

NOTE TO EDITORS

Iron Mountain Europe Limited is owned 50.1 per cent. by Iron Mountain
Incorporated of the US and 49.9 per cent. by Mentmore plc.

Iron Mountain Europe Limited currently provides records and information
management services in the United Kingdom, France, Spain, Eire, Germany,
Hungary, Czech Republic, Slovakia, Austria and the Netherlands.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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