National Express Group PLC
30 June 2006
30 June 2006
National Express Group
National Express joint venture with MTR Corporation for South Western franchise
National Express Group ('the Group') today announces it has teamed up with MTR
Corporation Limited, the operator of the Hong Kong mass transit railway system,
and will today be submitting a joint bid for the South Western rail franchise
competition, for which the Group pre-qualified earlier this year.
Through the 50:50 joint venture agreement, the Group has fully reviewed and
contributed to the South Western franchise bid and will participate in post
franchise submission negotiations with the Department for Transport.
Commenting on today's announcement Phil White, Chief Executive, National Express
Group said: 'Following an approach by MTR, we undertook a comprehensive review
of the bid, and with our experience and additional resource, we felt we were in
a position to add value to what in our view is a strong bid.'
Jeremy Long, Chief Executive Officer-European Business of MTR said; 'We are
delighted that National Express Group has joined forces with us on this exciting
project. We believe that National Express has provided an added UK based
dimension to the extensive work that we have already undertaken, and have
welcomed them into the team.'
- E ND S -
Notes to Editors
• The South Western franchise competition was launched in March 2006.
• National Express Group is one of the UK's leading train operating companies
with six franchises within its portfolio; c2c, Silverlink, Central Trains,
Gatwick Express, Midland Mainline and 'one' incorporating Stansted Express. The
Group is currently bidding for the three Midlands franchises; East Midlands,
West Midlands and Cross Country.
• MTR Corporation is a Hong Kong based railway operator responsible for the
operation of the mass transit railway in Hong Kong which carries, on average, in
excess of 2.4 million passengers every weekday.
For further information:
Nicola Marsden/Georgina Parkes
National Express Group
020 7529 2000
Andrew Dowler/Ben Foster
Financial Dynamics
020 7831 3113
MTR press office
020 7269 7237
This information is provided by RNS
The company news service from the London Stock Exchange
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