AGM Statement

Tuesday 6 May 2003                              
                                                




                       Serco Group - 2003 AGM Statement                        

Serco Group plc ('Serco') held its Annual General Meeting today. At the meeting
Kevin Beeston, Executive Chairman of Serco, made the following comments on
current trading:

'Following our strong performance in 2002 we have continued to make good
progress in 2003. We can confirm that we are trading in line with market
expectations.

In the year to date we have secured new business totalling over £3.3 billion.
In April, we announced that we have been jointly selected as preferred bidder
for the Merseyrail Electrics concession where our share of the £3.6 billion
contract is

£1.8 billion, our largest ever contract award. In January, we were awarded our
largest ever contract extension at the Atomic Weapons Establishment, where our
share is £1 billion of the £3 billion contract extension. Additionally, we have
continued to generate strong organic growth throughout the business. Our order
book now stands at £7.3 billion. As in the past we have renewed over 90% of
contracts reaching their expiry date.

As previously stated we are continuing to focus management resources on the
most promising opportunities and markets and to review underperforming areas of
the business. In this context, we announced in March our agreement to transfer
the maintenance contract for the East Midlands region back to Network Rail in
March 2005.

Our markets remain buoyant and bidding activity remains high. We are currently
awaiting decisions on approximately £7 billion of bids. We are also continuing
to see a strong flow of new bids and opportunities for the Group and remain
confident of achieving double-digit growth both this year and over the longer
term.'


For further information please contact:

Serco Group plc

T: [phone]

Kevin Beeston Executive Chairman

Andrew Jenner Finance Director

Ben Woodford Corporate Communications Director

                                 NEWS RELEASE                                  

www.serco.com

Issued:

Release:

Contact:

Serco Group plc

Dolphin House, Windmill Road

Sunbury-on-Thames, Middlesex TW18 7HT

United Kingdom

T [phone]

F [phone]

Serco Group Pty Limited

Level 10, 90 Arthur Street

North Sydney, NSW 2060

Australia

T [phone]

F [phone]

Serco Group, Inc.

20 E Clementon Road, Suite 102 South

Gibbsboro, New Jersey 08026

United States

T [phone]

F [phone]