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1996-02-23 DoT-002
Department of Transport

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Watts welcomes halfway point in rail franchising sell off


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Department of Transport

Watts welcomes halfway point in rail franchising sell off
_______________________________________________________________


date
23 February 1996
source Department of Transport
type Press release

note 53


John Watts, Minister for Railways and Roads, today welcomed the news
that thirteen of the twenty five passenger rail franchises are now on
the market or let.

"I am delighted that, as a result of the Franchising Director's
announcement inviting interested groups to pre qualify for Anglia
Railways and Thames Trains, this half way point has been reached in
the passenger rail franchising programme.

"A total of thirteen of the twenty five passenger rail franchises are
now on the market or let - Great Western and South West Trains are
running successfully in the private sector and final bids for Inter
City East Coast, Midland Main Line, Gatwick Express and Network
SouthCentral are due next month . This process is well underway and
I look forward to the benefits that this will bring to rail users."

"The sale of rail businesses is now forging ahead. The sale of the
three Trainload Freight companies is expected shortly, the three
rolling stock companies are now sold, Red Star and Rail Express
Systems have been sold; the first two rail infrastructure,
maintenance and renewal companies were sold this month with more
expected shortly. In total, 64% by aggregate turnover of the rail
industry is now sold or on the market - this does not include
Railtrack which is scheduled for flotation in May."

NOTES FOR EDITORS

1. For details of pre qualification for Anglia Railways and Thames
Trains and for progress on other rail franchises, please call Peter
McDermott/Paul McKie at OPRAF on 0171 940 4224/4294.

2. This news release is issued by the Department of Transport and has
been approved for the purposes of Section 57 of the Financial
Services Act 1986 by Price Waterhouse Corporate Finance, (a division
of Price Waterhouse). Price Waterhouse is authorised to carry on
investment business by the Institute of Chartered Accountants in
England and Wales. This news release has been prepared for general
information purposes only and is not intended to form the basis of
any investment decision or constitute and offer or invitation to bid
for any passenger rail franchise or to acquire shares in a train
operating company. Neither this news release nor any copy of it
should be taken into or distributed in Canada, France, Japan or the
United States except in accordance with an applicable exemption. The
distribution of this news release in other jurisdictions may be
restricted by law and therefore persons into whose possession this
news release comes should inform themselves about and observe any
such restrictions.

3. Price Waterhouse Corporate Finance is acting for the Department of
Transport and no-one else and will not regard any other person as its
client nor be responsible to anyone other than the Department of
Transport for providing the protections afforded to clients of Price
Waterhouse Corporate Finance nor for advising any other person on the
contents of this news release or any matter referred to herein.

Public Enquiries: 0171 271 4800


Railhub Archive ::: 1996-02-23 DoT-002





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