Prism Rail PLC
22 September 2000
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN
NATIONAL EXPRESS GROUP PLC ('NATIONAL
RECOMMENDED OFFER FOR PRISM RAIL PLC
On 19 September 2000 the board of National Express announced that the Offer
had been declared unconditional in all respects. The board also announced
that National Express was now entitled to exercise its rights pursuant to
sections 428 to 430F of the Companies Act 1985 (the 'Act') to acquire
compulsorily all of the outstanding Prism Rail Shares in respect of which
valid acceptances have not been received.
Accordingly, National Express is today posting formal notices under section
429 of the Act to Prism Rail Shareholders who have not yet accepted the
National Express will procure that Prism Rail applies to the UK Listing
Authority for Prism Rail Shares to be delisted and for trading in Prism Rail
Shares on the London Stock Exchange to cease. It is anticipated that
cancellation of Prism Rail's listing on the Official List of the UK Listing
Authority will, with the consent of the UK Listing Authority, take effect on
or after Friday 20 October 2000, being at least 20 business days after the
posting of formal notices under section 429 of the Act.
Terms defined in the Offer Document have the same meaning in this press
release unless the context requires otherwise.
William Rollason, Finance
Telephone: 020 7529 2000
Mark Preston, Managing
Telephone: 020 7628 1000
Telephone: 020 7831 3113
Merrill Lynch, which is regulated in the United Kingdom by The Securities and
Futures Authority Limited, is acting exclusively for National Express and no
one else in connection with the Offer and will not be responsible to anyone
other than National Express for providing the protections afforded to
customers of Merrill Lynch or for giving advice in relation to the Offer.
The Offer will not be made, directly or indirectly, in or into, by use of the
mails or any means of instrumentality (including, without limitation,
facsimile transmissions, telex or telephone) of interstate or foreign
commerce of, or any facilities of a securities exchange of, the United States
nor is it being made in or into Canada, Australia, or Japan and the Offer
will not be capable of acceptance by any such use, means, instrumentality or
facilities or from or within the United States, Canada, Australia or Japan.
Accordingly, copies of the press announcement are not being, and must not be,
mailed or otherwise distributed or sent in or into or from the United States,
Canada, Australia or Japan and persons receiving the press announcement
(including custodians, nominees and trustees) must not distribute or send it
in, into or from the United States, Canada, Australia or Japan.