18/03/2004

Stagecoach Group is pleased to announce today (18 March 2004) that it has taken a 29.9% stake in South Eastern Railways Ltd, a company established by Danish State Railways (DSB) to bid for the Integrated Kent rail franchise.

Graham Eccles, Executive Director Rail, said: “We are delighted to be partnering with DSB to bid for the Integrated Kent rail franchise. Collectively, we believe we have a strong mix of experience in operating both high-volume commuter and long-distance rail services.

“Both Stagecoach and DSB share a commitment to putting passengers at the heart of our business, investing in new trains and focusing closely on delivering a first-class operating performance. We look forward to working together to develop a strong bid for the franchise.”

Executive Vice President and CFO of Danish State Railways, Søren Eriksen said: “Stagecoach has extensive experience with train operations in the UK and DSB is undisputedly one of the best performing train operators in Europe. Therefore, the two companies can draw on their respective core competencies in delivering value for public money. DSB and Stagecoach complement each other well.”

ENDS

Enquiries to:

Martin Griffiths, Group Finance Director, 01738 442111
Steven Stewart, Stagecoach Group, 01738 442111
John Kiely, 020 7360 4900