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