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Algeco Scotsman Completes Joinder of Target Logistics Under Revolving Credit Facility

BALTIMORE, MD -- (Marketwired) -- 01/17/14 -- 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 it completed the joinder of Target Logistics Management, LLC, and its subsidiaries (together, "Target Logistics"), and Chard Camp Catering Service Ltd. ("Chard"), which in each case are subsidiaries of Algeco Scotsman, as borrowers under Algeco Scotsman's Amended and Restated Revolving Syndicated Facility Agreement, dated December 19, 2013. It is anticipated that the assets of Target Logistics and Chard will be included in the applicable borrowing base calculations under the revolving credit facility within thirty days. In connection with the joinder, for the group's senior secured and senior unsecured notes Chard also executed supplemental indentures and Target Logistics and Chard entered into U.S. security agreement joinders. Target Logistics also terminated certain existing capital leases.

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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