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<em>About a week or so ago Fred3 mentioned either First Transit or Stagecoach as possibly operating some British rail lines. </em></font><BR><font face="Times New Roman"><em></em></font> <BR><font face="Times New Roman"><em>While exercising the delete key, came across the following. As a warning, this was ten years ago. As a possible Pittsburgh connection, First Transit operates the replacement for the Charleroi interurban.</em></font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman"></font> </p><p class="MsoNormal" style="margin: 0in 0in 0pt;"><o:p><font face="Times New Roman"> </font></o:p></p><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">FIRSTGROUP PLC:<span style="mso-spacerun: yes;"> </span>US
TRANSIT ACQUISITION<o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">Company News Feed formerly Regulatory News Service<o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">May 22, 2003<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">FirstGroup plc is pleased to announce that it has agreed
terms under which <o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">its North American transit division, will purchase the
operational assets of <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">Coach USA's transit division, a wholly owned subsidiary of
Stagecoach Group <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">plc, for a purchase price of US$22.5 million.<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">The business to be acquired has annualised turnover of US$95
million. Assets <o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">include operational contracts from Coach USA's transit
division. The <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">business has contracts to operate some 1,200 buses on behalf
of transit <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">authorities and other bodies in states such as California,
Florida and New <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">York and employs some 2,000 staff.<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">The transaction is conditional on, among other things,
approval from <o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">affected public authorities.<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">Commenting, Iain Lanaghan, Finance Director said: "This
is an excellent <o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">strategic fit with our existing transit operations in the US
and continues <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">our successful programme of in-fill acquisitions at
attractive multiples. <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">Across our three North American divisions, First Student,
First Transit and <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">First Services we are continuing to grow by winning new
business and making <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">acquisitions."<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman"></font> </p><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">FirstGroup plc is a UK based international transport company
with a turnover <o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">of more than 2 billion a year, and 57,000 employees
throughout the UK and <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">North America.<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">* The Group is Britain's largest bus operator running more
than one in five <o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">of all local bus services. A fleet of some 9,500 buses
carries 2.7 million <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">passengers a day in more than 40 towns and cities.<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">* The Group is also one of the UK's largest rail operators
with three <o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">franchises - First Great Western, First Great Eastern and
First North <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">Western. It is introducing new trains in each franchise at a
cost of than <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">200 million. The group operates nearly one-fifth of the UK
passenger rail <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">network, with a balanced portfolio of inter-city, London
commuter, and <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">regional services.<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">* It holds the operating contract for the Croydon Tramlink
network, which <o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">carries over 20 million passengers a year.<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">* In North America the Group has three operating divisions:
Yellow School <o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">Buses (First Student), Transit Contracting and Management
Services (First <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">Transit) and Vehicle Maintenance and ancillary services
(First Services).<span style="mso-spacerun: yes;"> </span><o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">Headquartered in Cincinnati the businesses operate across
the US and Canada.<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">+ First Student is the second largest provider of Yellow
school buses in the <o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">USA and the third largest in Canada. With a fleet of some
15,500 school <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">buses it transports nearly one million students everyday.<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">+ First Transit is one of the largest private sector
providers of urban bus <o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">services in the US, managing public transport systems on
behalf of cities <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">such as Houston, Dallas and Denver.<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><font face="Times New Roman">+ First Services is the largest private sector provider of
vehicle <o:p></o:p></font></p><font face="Times New Roman">
</font><font face="Times New Roman">maintenance in the US. Maintaining fleets and equipment for
primarily public <o:p></o:p></font><BR><font face="Times New Roman">
</font><font face="Times New Roman">sector customers such as cities, counties, fire and police
departments<o:p></o:p></font><BR><font face="Times New Roman">
</font><BR><p class="MsoNormal" style="margin: 0in 0in 0pt;"><o:p><font face="Times New Roman"> </font></o:p></p><font face="Times New Roman">
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