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Algeco Scotsman Announces Appointment of Stephen Bishop as Chief Financial Officer

BALTIMORE, MD -- (Marketwired) -- 01/09/14 -- Algeco/Scotsman Holding S.à r.l. (together with its subsidiaries, "Algeco Scotsman"), the leading global business services provider of modular space, secure portable storage solutions and remote workforce accommodations, today announced that Stephen Bishop will be appointed Executive Vice President and Chief Financial Officer of Algeco Scotsman effective as of January 15, 2014. It is anticipated that he will also be elected to Algeco Scotsman's Board of Managers soon after such date. Mr. Bishop will succeed Thomas Kloster who will resign as Chief Financial Officer and from the Board of Managers effective as of January 15, 2014, to pursue other opportunities.

Jean-Marc Germain, President and Chief Executive Officer of Algeco Scotsman commented, "We thank Tom Kloster for his dedicated service and many contributions to our company. As we embark on our next phase of development, I am delighted to welcome Steve as our new CFO. Steve brings a wealth of experience as a successful CFO in various industries. His knowledge of the leasing business and his experience with both private and public companies will be very valuable to Algeco Scotsman."

Mr. Bishop was most recently CFO and COO of SeaCube Container Leasing Ltd. ("SeaCube"), the world's largest lessor of refrigerated containers. Mr. Bishop led SeaCube through its initial public offering in 2010 and its sale to a private buyer in 2013. Prior to joining SeaCube, Mr. Bishop was CFO and EVP of Greatwide Logistics Services from 2007 to 2009, GeoLogistics Corp. from 2004 to 2007 and NetJets, Inc. from 1998 to 2004. Earlier in his career he held positions of increasing responsibility in audit, treasury and operating roles in telecommunications, publishing and manufacturing companies. Mr. Bishop holds an M.B.A. from Northeastern University and a B.S. in Accounting from the University of Maine.

Cautionary Notice Regarding Forward Looking Statements

This press release may contain forward-looking statements, which reflect Algeco Scotsman's expectations regarding its future operational and financial performance. Although any forward-looking statements contained in this press release reflect management's current beliefs based upon information currently available to management and upon assumptions which management believes to be reasonable, actual results may differ materially from those stated in or implied by these forward-looking statements. A number of factors could cause actual results, performance or achievements to differ materially from the results expressed or implied in any forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on any forward-looking statements. Except as required by law, Algeco Scotsman undertakes no obligation, and specifically declines any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Algeco Scotsman

Algeco Scotsman is the leading global business services provider focused on modular space, secure portable storage solutions, and remote workforce accommodation management. Headquartered in Baltimore, Algeco Scotsman has operations in 37 countries with a modular fleet of approximately 306,000 units. The company operates as Williams Scotsman in North America, Algeco in Continental Europe, Elliott in the United Kingdom, Eurobras in Brazil, Ausco in Australia, Portacom in New Zealand and Target Logistics globally.

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