The Company and certain subsidiaries have provided unsecured guarantees to certain third parties within the normal course of business, the majority of which were in favour of certain lenders in respect of some of the Group’s loan notes and borrowing facilities, together with guarantees provided to vehicle suppliers and property lessors. As at 31 December 2007, these guarantees in relation to drawn balances totalled £682.6 million (2006: £708.2 million).
Certain Group companies are defendants in a number of claims and legal proceedings incidental to their operations. The Directors do not expect that any of these contingencies will have a material impact on the results or financial position of the Company.
