Statement Regarding Press Speculation

FirstGroup PLC 20 March 2000 FIRSTGROUP PLC Statement regarding press speculation FirstGroup notes recent press speculation with regard to merger discussions between itself and National Express. The Board of FirstGroup wishes to state that no such discussions are in progress. The Board reconfirms the key elements of its strategy which are: * to exploit the excellent growth and margin opportunities in its recently acquired US businesses * in the UK, to capitalise on its position as the largest urban bus operator, to maximise the strong cash generation of that business and to pursue growth opportunities * to re-bid for its existing rail franchises if these can be secured on commercially attractive terms The Board of FirstGroup is confident that it has the best strategy to deliver long term, sustainable growth in shareholder value. Contacts FirstGroup plc: Moir Lockhead, Group Chief Executive 020 7291 0510 Tony Osbaldiston, Deputy Chief Executive 020 7291 0510 Michael Mitchell, Director of Corporate Communications 020 7291 0504

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