Corporate news

Major announcements from National Express Group PLC.

Statement regarding Cosmen family
30 Oct 2009

THIS ANNOUNCEMENT (AND THE INFORMATION CONTAINED HEREIN) IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
30 October 2009

National Express Group PLC
("National Express" or the "Group")

Statement regarding Cosmen family

The Board of National Express (the "Board") notes the statement from the Cosmen family today.

As announced on 28 October 2009, the Board believes that the best course action for the Group and all shareholders is to proceed with an equity fundraising to secure funds before year end.

The Board, together with its independent advisers, has carefully explored a range of strategic options during the course of 2009. In relation to the recent Stagecoach proposal the Board concluded that there was significant uncertainty that a combination with Stagecoach could be successfully executed in 2009.

Non-compliance with 31 December 2009 banking covenants would require the Group to seek further concessions from its banking partners, incurring additional cost and creating significant uncertainty for National Express shareholders.

The Board believes it is in shareholders' best interests that an equity fundraising be undertaken as soon as possible to secure a sustainable capital structure for the Group.

A further announcement regarding such fundraising will be made during the course of November 2009.

Enquiries:

National Express Group PLC
Jez Maiden
Group Finance Director 020 7506 4324
Nicole Lander
Director of Communications 0121 460 8401

Maitland 020 7379 5151
Neil Bennett
George Hudson

Merrill Lynch International
020 7628 1000
Simon Mackenzie-Smith
Philip Noblet
Justin Anstee
Simon Fraser (Corporate Broking)
Andrew Osborne (Corporate Broking)

Morgan Stanley & Co. Limited
020 7425 8000
Matthew Jarman
Peter Moorhouse (Corporate Broking)

Merrill Lynch International (a subsidiary of Bank of America Corporation) and Morgan Stanley & Co. Limited are acting exclusively for National Express Group PLC in relation to the possible offer and will not be responsible to anyone other than National Express Group PLC for providing the protections afforded to each of their clients or for providing advice in relation to the possible offer.

This announcement is for information purposes only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell, issue, or subscribe for any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). These materials do not contain or constitute an offer for sale or the solicitation of an offer to purchase securities in the United States. The securities referred to herein (the "Securities") have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any state or jurisdiction of the United States, and may not be offered or sold in the United States absent registration under the Securities Act or an available exemption from, or transaction not subject to, the registration requirements of the Securities Act. There will be no public offer of the Securities in the United States.