Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

National Express (NEX)

  Print      Mail a friend

Thursday 07 March, 2002

National Express

SRA Franchise Agreement

National Express Group PLC
7 March 2002

7 March 2002 -

                       NATIONAL EXPRESS GROUP PLC

National Express Group PLC ('National Express'), the UK's largest train
operator, today announces it has agreed new terms with the Strategic Rail
Authority ('SRA') for its Central Trains ('Central') and ScotRail franchises.
National Express and the SRA have also settled a number of outstanding issues
relating to the businesses acquired from Prism Rail PLC ('Prism') in September

Central and ScotRail

National Express won the seven year Central and ScotRail franchises in March and
April 1997 respectively. To date they have remained the only two regional
franchises which have not been re-negotiated with the SRA.

Both Central and ScotRail suffered badly from the speed restrictions imposed on
the network following the Hatfield accident in October 2000.  As a result both
franchises have lost a high proportion of leisure and discretionary travel
business, which they had grown significantly post-privatisation and on which
their profitability is heavily based. As a result, there is little prospect of
these franchises returning to profitability before they expire in 2004.

In order, therefore, to put these two franchises on a stable financial footing,
the SRA has agreed to provide £115 million additional subsidy to achieve a
breakeven position between 1 January 2002 and the end of the franchise period.
In return, National Express will make a cash payment to the SRA of £59 million
and has undertaken to continue to operate additional services above the minimum
level required in the franchise agreements.

The SRA and the West Midlands Passenger Transport Executive have also agreed to
enter into good-faith negotiations with National Express to extend the Central
franchise by two years to March 2006.  This extension was set out in the SRA's
Strategic Plan published earlier this year.

Further Agreements

As part of the overall agreement on Central and ScotRail, National Express and
the SRA have also settled a number of outstanding issues relating to the
businesses acquired from Prism:

•        National Express will continue to operate the Great Northern part of
its  West Anglia Great Northern franchise until March 2004;

•        National Express has agreed terms to operate the Wales & Borders and
Wessex franchises until 31 December 2002. We have agreed to continue to operate
these franchises until the earlier of the SRA reletting these franchises or 1
April 2004;

•        In full and final settlement of the undertaking inherited from Prism to
invest £20.5 million in the c2c franchise, National Express will invest £8
million on capital improvements on the c2c and Great Northern franchises; and

•        In full and final settlement of the outstanding £13.3 million of the
£25 million that National Express undertook to invest across its franchises as
part of the acquisition of Prism, National Express will pay the SRA £3.5 million 
in cash.

SRA Chairman Richard Bowker said:

'It has long been clear that the financial basis for the regional franchises was
unworkable - a situation compounded by Hatfield and the foot and mouth outbreak,
which affected tourism revenue.  The SRA and National Express have worked
together over the last six months to hammer out the right solution for this
problem.  Negotiations have been rigorous on both sides.  I am convinced that
the outcome is a great step forward for passengers, the SRA and the operators.
There is now a firm basis on which to plan for the future development of the
franchises before they are re let, or extended, on expiry in 2004, in line with
the objectives of our Strategic Plan.'

Commenting on the agreement, Phil White, Chief Executive, National Express

'We are delighted to be working with the SRA to deliver solutions for the UK
train industry that will benefit passengers.  We believe in the opportunities
that rail travel can provide and the growth that can be achieved in the longer
term. Today's agreement resolves a number of fundamental issues affecting our UK
rail operations where at least one year's growth has been lost since the
Hatfield incident. Working in partnership with the SRA, we can now look to the
future with greater certainty. '

                                    - ENDS -

For further information contact:

Phil White, Chief Executive
William Rollason, Finance Director
Nicola Marsden, Director of Group Communications
National Express Group PLC                                         020 7529 2000

Andrew Dowler/Ben Foster
Financial Dynamics                                                 020 7831 3113

                      This information is provided by RNS
            The company news service from the London Stock Exchange

a d v e r t i s e m e n t