FirstGroup Rail Joint Venture

FirstGroup PLC 30 November 2000 Rail franchise bidders form joint venture company A new joint venture company has been formed by FirstGroup and NS, (Netherlands railways), to bid for UK rail franchises, it was announced today. First/NS Holdings Ltd, registered in England, is 60 per cent owned by FirstGroup, which will have operational control, and 40 per cent owned by NS. NS and FirstGroup, one of the UK's largest passenger transport operators, are joint bidders for the South West Trains franchise, for which they have been shortlisted, and for Thameslink. Moir Lockhead, FirstGroup chief executive, said: 'This is an another exciting opportunity for FirstGroup and is a logical development of our relationship with NS. The new company has been created to win new franchises when both FirstGroup and NS agree that a joint bid is appropriate.' Hans Huisinga, NS chief executive, said: 'We are delighted with this move because it cements our relationship with FirstGroup and improves the prospects of our bids succeeding.' The chairman of First/NS Holdings Ltd will be Dr Mike Mitchell, executive director of FirstGroup's rail division. The other board members are: Dean Finch, commercial director, FirstGroup rail division; and Anton Valk, NS business development director. A fourth director, from NS is due to be appointed. Ends Contacts: FirstGroup: Michael Mitchell, Director of Corporate Communications, 020 7291 0504 NS: Flore Kraaijeveld, Media Relations, 00 31 30 235 70 70

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