04.03.04

Porterbrook Leasing Company Limited has appointed Lee Doggett Commercial Manager, London & South East.

Lee, who was previously a Regional Railways Fleet Engineer, starts in his new role on 1 March 2004. He will be responsible for all commercial matters relating to Porterbrook customers in the former Network South East area.

Neil Bennett who was previously Commercial Manager London and Continental has now taken over responsibility for forward management of Porterbrook's European train leases.

Keith Howard, Porterbrook's Commercial Director commented

"I am delighted that we have been able to strengthen Porterbrook's commercial team by making an appointment from within the business. Lee will be able to give a greater focus to our London and South Eastern TOCs customers at a time when many are introducing new fleets or refurbishing existing rolling stock."

"I am also pleased that Neil Bennett will be able to devote more of his time to meeting the needs of Porterbrook's International customers which continue to be an important part of Porterbrook's business."

Notes to Editors:

Porterbrook Leasing Company Limited ("Porterbrook") is a leading player in the 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 maintenance services.

Porterbrook has been highly successful in winning new train orders since privatisation, with over £1.6 billion in new business won - investing in over 1,500 new passenger vehicles and over 1,200 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.

For further information about Porterbrook contact Rupert Brennan Brown, Head of Communications on 01332 263251 (m: 07799 337052)