22.02.02

Porterbrook Leasing Company Limited ("Porterbrook"), a subsidiary of Abbey National Treasury Services plc, signed a lease with Connex Cargo Logistics GMbH on 29th November 2001 in Frankfurt, Germany for three new dual voltage Class 185 locomotives built by Bombardier Transportation GmbH at their Kassel works.

The locomotives were delivered in December 2001 and had undergone driver and maintenance staff training in January 2002 before recently commencing work on sand trains in the Osnabruck area for the Connex subsidiary NordWestCargo.

This latest agreement brings the total number of locomotives leased to German clients to eight following on from the five x Class 145 single voltage locomotives financed for HGK in August 2001.

Ken Harper, International Business Manager said,

"We are delighted to be able to add Connex Cargo to our growing international customer base. Connex is a major customer for Porterbrook in the UK and we have been able to demonstrate that we can add value to their international operations as well. It is our fourth international deal using equipment supplied by Bombardier and we are now able to offer economies of scale to our clients, particularly by the use of standardised documentation over the various deals."

Connex introduced the locomotives to the German press and to local dignitaries in the area on 24th January. A photograph (attached) of locomotive No 2 was taken in the yard at Osnabruck (photo courtesy of Connex).

- Ends -

Contacts:

Ken Harper
International Business Manager
Porterbrook Leasing Company Limited
26-28 Dorset Square
London NW1 6QG
ENGLAND
Tel: +44 207 612 3470

Andreas Winter
Leiter Unternehmenskommunikation
Connex Verkehr GmbH
Rödelheimer Bahnweg 31
60489 Frankfurt am Main
GERMANY
Tel: +49 69 789 00-121

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. The company also provides ongoing train and tram maintenance services. Porterbrook has been highly successful in winning new train orders since privatisation, with £1 billion in new business won - investing in over 1,000 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 Abbey National Treasury Services plc, part of Abbey National Group.