Issue of Bonds

FirstGroup PLC
22 February 2002

22 February, 2002

For immediate release

FirstGroup Plc

Issue of £300,000,000 6.875 per cent. Bonds due 2013

FirstGroup announces the issue of £300,000,000 6.875 per cent. Bonds due 2013
(the 'Bonds').


FirstGroup believes that current conditions in the UK bond markets offer the
opportunity to raise long-term debt at attractive rates. The proceeds will be
used to repay existing shorter-term bank debt.

The joint lead-managers of the issue are Cazenove, Royal Bank of Scotland and
UBS Warburg. Cazenove and Royal Bank of Scotland are joint bookrunners.

The issue price of the Bonds is £99.085 per £100 nominal. At that price, the
gross redemption yield on the Bonds is 6.876 per cent. semi-annual, being a
margin of 1.95 per cent. over that of the 5 per cent. Treasury Stock 2012 at the
time of pricing.

Application will be made to the UK Listing Authority and London Stock Exchange
to list and trade the stock.

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For further information, please contact:

FirstGroup          Iain Lanaghan, Group Finance Director          01224 650107

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In connection with the issue of the Bonds, The Royal Bank of Scotland plc may
from time to time over-allot or effect transactions with a view to supporting
the market price of the Bonds at a level higher than that which might otherwise
prevail for a limited period after the date of issue of the Bonds. However,
there is no obligation on The Royal Bank of Scotland plc or any agent of it to
do this. Such stabilising action, if commenced, may be discontinued at any time,
must be brought to an end after a limited period, and will be carried out in
accordance with all applicable laws and regulations.



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