com:20091030:Rnsd6609B
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RNS Number : 6609B  
  
National Express Group PLC  
  
30 October 2009  
  
THIS ANNOUNCEMENT (AND THE INFORMATION CONTAINED HEREIN) IS NOT FOR RELEASE, 
PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR 
INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF 
SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A 
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION  
  
30 October 2009    
  
National Express Group PLC("National Express" or the "Group")  
  
Statement regarding Cosmen family  
  
The Board of National Express (the "Board") notes the statement from the Cosmen 
family today.   
  
As announced on 28 October 2009, the Board believes that the best course action 
for the Group and all shareholders is to proceed with an equity fundraising to 
secure funds before year end.  
  
The Board, together with its independent advisers, has carefully explored a 
range of strategic options during the course of 2009. In relation to the recent 
Stagecoach proposal the Board concluded that there was significant uncertainty 
that a combination with Stagecoach could be successfully executed in 2009.  
  
Non-compliance with 31 December 2009 banking covenants would require the Group 
to seek further concessions from its banking partners, incurring additional cost 
and creating significant uncertainty for National Express shareholders.  
  
The Board believes it is in shareholders' best interests that an equity 
fundraising be undertaken as soon as possible to secure a sustainable capital 
structure for the Group.  
  
A further announcement regarding such fundraising will be made during the course 
of November 2009.  
  
Enquiries:  
  
 
  National Express Group PLC                               
  Jez MaidenGroup Finance Director          020 7506 4324  
  Nicole LanderDirector of Communications   0121 460 8401  
                                                           
  Maitland                                  020 7379 5151  
  Neil Bennett                                             
  George Hudson                                            
                                                           
  Merrill Lynch International               020 7628 1000  
  Simon Mackenzie-Smith                                    
  Philip Noblet                                            
  Justin Anstee                                            
  Simon Fraser (Corporate Broking)                         
  Andrew Osborne (Corporate Broking)                       
                                                           
  Morgan Stanley & Co. Limited              020 7425 8000  
  Matthew Jarman                                           
  Peter Moorhouse (Corporate Broking)                      
  
  
Merrill Lynch International (a subsidiary of Bank of America Corporation) and 
Morgan Stanley & Co. Limited are acting exclusively for National Express Group 
PLC in relation to the possible offer and will not be responsible to anyone 
other than National Express Group PLC for providing the protections afforded to 
each of their clients or for providing advice in relation to the possible 
offer.  
  
This announcement is for information purposes only and shall not constitute an 
offer to buy, sell, issue or subscribe for, or the solicitation of an offer to 
buy, sell, issue, or subscribe for any securities, nor shall there be any sale 
of securities in any jurisdiction in which such offer, solicitation or sale 
would be unlawful prior to registration or qualification under the securities 
laws of any such jurisdiction.  
  
The information contained herein is not for publication or distribution, 
directly or indirectly, in or into the United States (including its territories 
and possessions, any state of the United States and the District of Columbia). 
These materials do not contain or constitute an offer for sale or the 
solicitation of an offer to purchase securities in the United States. The 
securities referred to herein (the "Securities") have not been and will not be 
registered under the US Securities Act of 1933, as amended (the "Securities 
Act") or with any securities regulatory authority of any state or jurisdiction 
of the United States, and may not be offered or sold in the United States absent 
registration under the Securities Act or an available exemption from, or 
transaction not subject to, the registration requirements of the Securities Act. 
There will be no public offer of the Securities in the United States.  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
  END  
  
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