02/04/2001

Stagecoach welcomes today's decision by the Strategic Rail Authority (SRA) to make the Group preferred bidder for the new South West Trains franchise. Stagecoach Group will now move to conclude negotiations for London's biggest train order, providing new rolling stock for South West Trains.

A total of £1.7 billion is committed to investment in trains and infrastructure, including 800 new vehicles. These new trains will begin to be delivered from the end of next year, and will enable slam-door trains to be eliminated from the South West Trains network by the end of 2004.

Keith Cochrane, Stagecoach Group Chief Executive, welcomed the decision by the Strategic Rail Authority. "The SRA has clearly understood the problems of Britain's biggest commuter railway, and its early decision means that we can begin work to transform the service to our passengers at the earliest possible opportunity. I am also delighted that the decision removes any uncertainty about the future for our staff."

"Our promise is to achieve the step-change in customer service that our passengers have a right to expect. We will work closely with the SRA and passenger groups to build a new railway for the 21st century."

"Today is the beginning of a new era for South West Trains."

Notes to editors:

Stagecoach Group's bid to retain the South West Trains franchise was announced in February 2001, when Stagecoach appointed Siemens and Angel Trains as preferred bidders for new trains under it's procurement process. The bid, including options, is valued at around £4 billion, and includes longer trains and longer platforms at almost every station on the network; extensive upgrading of Waterloo, Clapham Junction, and other main stations; plus immediate investment in 800 new vehicles, with the earliest being delivered by late 2002.

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