Re Joint Venture

Monday 13 May 2002                              
                                                
Monday 13 May 2002                              
                                                
See below                                       

                                Serco Group plc                                

         Joint venture with Wackenhut Corrections Corporation ('WCC')          

Serco Group plc ('Serco') notes the announcement by WCC, its joint venture
partner in Premier Custodial Group ('PCG'), that its parent company The
Wackenhut Corporation has completed its merger with a wholly owned subsidiary
of Group 4 Falck A/S (Milestone Acquisition Corporation). Serco also notes the
decision by the Secretary of State for Trade and Industry on 9 May 2002 to
refer the merger of Group 4 Falck A/S and The Wackenhut Corporation to the
Competition Commission on the grounds of the competition concerns in the UK
markets for the provision of transportation and custodial services.

Serco is currently considering its rights under the joint venture agreement
with WCC with respect to the change of control of The Wackenhut Corporation.
These rights include an option to acquire WCC's 50% interest in PCG, a right
which Serco is currently discussing with WCC. Serco and WCC are continuing to
work together as normal to maximise the operational performance of the joint
venture. Serco will only exercise its option if it is beneficial to the Group
and will update shareholders on this opportunity in due course, as appropriate.

                                   - Ends -                                    

For further information please contact Serco Group plc: T: [phone]

Ben Woodford - Corporate Communications Director

Kevin Johnson - Media & Public Relations Manager

Notes to Editors:

Premier Custodial Group is a joint venture company between Serco and Wackenhut
Corrections Corporation of Florida USA, with the objective of delivering the
requirements of the criminal justice services throughout the United Kingdom.

Since PCG opened Doncaster Prison in June 1994 the Company has built up its
reputation for first-class prison management, recognised and endorsed by the
Chief Inspector of Prisons.

PCG now employs over 3,000 people and operates 4 prisons, 1 combined prison and
Youth Offenders Institution, a secure youth training centre and an immigration
centre in the UK. In addition, PCG provides a range of other custodial services
including electronic monitoring of offenders and court escort services.

PCG has grown substantially since 1992 and now has an annual turnover in excess
of £120 million.