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2000-10-09 RTK-001
Railtrack plc

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Clarification of position on regulatory fines


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Railtrack plc

Clarification of position on regulatory fines
_______________________________________________________________


date
9 October 2000
source Railtrack plc
type Press release



Railtrack have announced that they are currently 10% worse in terms of
passenger train performance against a target set by the Regulator of 7.8% for
the current year with the important autumn and winter period to come.

Railtrack would like to clarify the situation regarding penalties for
performance shortfalls against the Regulator's target. For every 1%
underperformance the Company could be fined £2 million.

However, Railtrack has been advised that it is the Regulator's current
intention to roll forward any shortfall from this year's target of 7.8%
improvement into the benchmark for the performance regime in the next control
period 2001-06. This would mean that there would be no fine this year but our
ability to earn extra bonuses through the performance regime in subsequent
years will be reduced.

We are currently in discussion with the Regulator over the practicalities of
this approach.

For more information or an interview, contact the Railtrack press office on
020 7557 8292/3

All recent press releases can be found on the Railtrack web site at the
following address:
http://www.railtrack.co.uk/corporate/notice


Railhub Archive ::: 2000-10-09 RTK-001





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