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2002-03-25 RTK-001
Railtrack Group plc

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CLG offer for Railtrack plc in administration


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Railtrack Group plc

CLG offer for Railtrack plc in administration
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date
25 March 2002
source Railtrack Group plc
type Press release



The Board of Railtrack Group welcomes today's approach by Network Rail to
acquire the shares in Railtrack PLC for £500 million.

The Railtrack Group Board will now consider the formal offer in due course.
Commenting on the Network Rail proposal Railtrack Group Chairman Geoffrey Howe
said;

"We welcome today's approach by Network Rail. The Directors will consider the
proposal in detail, it will then be up to shareholders to have the final say as
to whether it should be accepted".

In addition to Railtrack PLC, the most significant assets of Railtrack Group are
the Channel Tunnel Rail Link (Phase 1), the development property portfolio and
some £350 million of cash held by HSBC.

Geoffrey Howe, Railtrack Group Chairman, went on to say;

"There is still a lot of hard work to do to maximise value from the Group's
other assets, this will take time and as yet it is not possible for the Board to
predict their value with certainty".

For further information call:
Sue Clark Railtrack 07850 285471; or 020 7544 8436
Duncan Campbell Smith Maitland 020 7379 5151



Railhub Archive ::: 2002-03-25 RTK-001





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