Chairman's Statement

National Express Group PLC 27 April 2000 National Express Group PLC Annual General Meeting - Statement Commenting at today's AGM, Michael Davies, Chairman, made the following statement: 'I am pleased to announce that all of the Group's operating divisions are trading in line with expectations. The positive growth trends experienced in 1999 have continued into the first few months of this year and passenger numbers are up on last year's levels. Our UK bus division continues to report passenger growth. This is a direct result of our policy of working in partnership with local authorities to improve the quality of services across the West Midlands' bus network. Our fourth and largest Quality Partnership corridor, a key section of which was launched a year ago, is attracting double-digit growth in passenger numbers. Two projects have been completed under our West Midlands Infrastructure Investment Partnership. These schemes will reduce bus journey times and will increase ridership by making our services more attractive to more people. Our UK trains division has recorded a 10% increase in passenger revenue on 1999 levels for the first three months of 2000. We have introduced a further 11 new trains bringing the total number of new trains now in service to 58. The remaining 64 will be operating by the end of this year, bringing the final total of new trains to 122. We were pleased with the SSRA's announcement of 19 April which confirmed that we had qualified to bid for our existing Central Trains passenger rail franchise and the new Trans-Pennine franchise. We believe that we can make a major contribution to the long-term development of the railway network provided we can be satisfied that such a long-term commitment to passenger rail services can deliver good returns to our shareholders. AirLinks, our airport coaching operation, has won new contracts for the movement of airline crew at Heathrow and Gatwick airports and passenger transfers between car parks and the terminal buildings. These contracts further enhance AirLinks' position as a premier supplier of high quality bus and coach services to our airport and airline customers. At East Midlands Airport in the UK, the new DHL facility is operational and strong growth in cargo tonnage for the first quarter was recorded. In the USA, the 99 year lease of Stewart Airport in New York State commenced on 31 March 2000. We began operating the airport on 1 April and look forward to implementing the plans we have in place for its development. Our USA bus businesses continue to perform well. The integration of our student transportation and public transit bus divisions is progressing well and we have achieved annualised savings of $2m to date. In Australia we have placed orders for 62 new trains and 59 new trams for our Melbourne operations worth £193m and we will be ordering a further 25 new trains worth £70m later this year. The new vehicles are to be delivered from 2002. There are many opportunities for growth in the international public transport market. The quality and strength of the Group's operations, together with our financial headroom will enable us to capitalise on these opportunities. We are confident that 2000 will be another successful year for National Express.' For further information, please contact: Phil White, Chief Executive William Rollason, Finance Director Helen McCorry, Group Communications Manager National Express Group PLC 020 7529 2000 Nicola Marsden/ Steve Jacobs Financial Dynamics 020 7831 3113

Companies

Mobico Group (MCG)
UK 100