Acquisition

Compass Group PLC 24 December 2001 Compass Group confirms agreement to acquire Restorama and Rail Gourmet and the acquisition of parts of Gourmet Nova Compass Group today confirms that it has agreed to acquire Restorama AG and Rail Gourmet Holding AG and their respective subsidiaries from SAirLines AG, a subsidiary of Swissair's SAir Group. In addition, Compass Group confirms that it has also acquired elements of Swissair's Gourmet Nova business, including Gourmet Nova Finland OY, which operates an airport restaurant business at Helsinki's Vantaa Airport. The total consideration payable for the businesses to be acquired will be approximately CHF 96.8m (approximately £40.7m) subject to certain adjustments, which will be paid in cash. The acquisition of Restorama and Rail Gourmet is subject to certain conditions precedent, including relevant anti-trust clearances, and has been approved by the administrator of SAir Group and SAirLines AG and by the Swiss court responsible for Swissair's composition proceedings. Restorama provides foodservice for clients (mainly in the business and industry sector) in various countries including Switzerland, Germany and Austria. Rail Gourmet is a leading provider of quality on-board foodservice to customers travelling by rail in Europe - with operations in Spain, Switzerland, UK, Belgium and Scandinavia. Gourmet Nova provides foodservice at airport restaurants, including at Helsinki's Vantaa Airport. Michael J Bailey, Chief Executive, Compass Group, said: 'These acquisitions are an excellent strategic move for the Group. Rail Gourmet, Restorama and Gourmet Nova are businesses with strong reputations in their target markets, augmenting the Group's existing business in these sectors. We are delighted to be able to welcome the employees, clients and customers of these three organizations to Compass Group.' Ends Enquiries: Paul Kelly Compass Group PLC Tel: 07876 444450 Timothy Grey/Charlotte Elston/ Simon Sporborg, Brunswick Group Tel: 07974 982408/ 07974 982463/ 07974 982442 Notes to editors 1. Compass Group: Compass Group is the world's largest foodservice company employing over 270,000 people in over 90 countries and with annual revenues in excess of £9bn. Compass Group provides catering for clients including major employers, educational establishments, hospitals, leisure venues, retail locations and at major airports and stations throughout USA, Europe, and developing markets in Asia and South America. It operates through sector- specific subsidiaries such as Eurest, the world's largest specialist in providing foodservice to business and industry clients, and Select Service Partner, the European market leader in foodservice at airport restaurants and rail stations. Further information on the Group can be found at www.compass-group.com 2. Restorama: Restorama provides foodservice to a prestige client list in the greater Zurich area and other parts of Switzerland which complements the existing business profile of Compass Group in Switzerland. Restorama is also active in Germany and Austria. 3. Rail Gourmet: Founded in 1994 and based in Switzerland, Rail Gourmet provides food and drink to more than 1,100 trains a day in addition to operating over 30 catering outlets at train stations in Finland and Belgium. Rail Gourmet provides catering services to 18 of the leading train operators in Europe - including AVE (Spain), GNER and Virgin in the UK, Thalys International and SNCB in Belgium, DSB, VR and NSB in Scandinavia. 4. Gourmet Nova: Gourmet Nova operates an airport and railway station restaurant business, including in Finland at Vantaa Airport in Helsinki. 5. Agreement with Swissair: Compass Group announced a non-binding memorandum of understanding with Swissair in July 2001, which referred to a proposed exchange of assets. Compass Group confirms that Eurest In-flight, which has a strong presence in the charter airline catering market with particular focus on Spain and Greece, continues to be a valued member of Compass Group.
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