01.10.01

Porterbrook Leasing Company Limited ("Porterbrook"), a subsidiary of Abbey National Treasury Services plc, has been awarded preferred bidder status for the financing of 700 new electrical multiple unit cars (EMUs) by Govia Ltd to replace the Mk1 slam door trains, some of which are over 40 years old, operating on the South Central franchise south of London.

The contract is valued at over £600M and delivery of the rolling stock will commence in 2002 and will be completed by the end of 2004 in line with the governments' Mk1 replacement requirements.

This is the first part of a potential requirement for 1500 new cars that Govia has across the franchises that it currently operates.

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Contact:
Karen Jackson, Porterbrook Leasing,
Tel: 01332 263224

Note to Editors:
Porterbrook Leasing Company Limited ("Porterbrook") is a leading player in the UK rail leasing market. Porterbrook has a rolling stock fleet of over 5,500 vehicles on lease or on order, which includes about 4,000 passenger vehicles. These are supplied under operating leases to 18 of the 25 train operating companies (TOCs) within the UK. Porterbrook also provides ongoing train and tram maintenance services, most of which are outsourced. Porterbrook has been highly successful in winning new train orders since privatisation, with £1 billion in new business won - investing in over 1000 new passenger vehicles and 1,100 new freight locomotives and wagons, and in the refurbishment of much of its in fleet equipment. In April 2000 the Porterbrook group of companies was acquired by a subsidiary of Abbey National Treasury Services plc, part of Abbey National Group.