14.07.03

Porterbrook Leasing Company Ltd today announced that Chiltern Railways had agreed to lease a further six cars of the Class 168 Turbostar derivative. This brings to 52 the number of Class 168 cars leased by Chiltern from Porterbrook - the order for the first of which, placed in 1996, brought an end to the 1062 day drought in new rolling stock orders for Britain’s railways.

The order for two three car units also represents a further vote of confidence by the railway industry in Porterbrook's speculative build programme. The speculative build programme has already meant that brand new passenger rolling stock will appear on routes run by ScotRail, South West Trains, Hull Trains and South Central as well as on Chiltern Railways.

Keith Howard, Porterbrook's Commercial Director commented

"The Porterbrook speculative build programme has been a great success. By ordering these units without having a prior lease in place we can ensure continuous Turbostar production at Bombardier's Derby works. At the same time TOC customers see the benefits of placing an order for highly reliable rolling stock that can be in revenue earning passenger service within months rather than years, as is normal for a new train order."

Chiltern's additional six cars will be delivered to the TOC in September 2004.

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Notes to Editors

• Porterbrook Leasing Company Limited ("Porterbrook") is a leading player in the rail leasing market.
• Porterbrook has a rolling stock fleet of over 5,500 vehicles on lease or on order, which includes about 4,000 passenger vehicles. These are supplied under operating leases to 18 of the 25 Train Operating Companies (TOCs) within the UK. The company also provides ongoing train maintenance services.
• Porterbrook has been highly successful in winning new train orders since privatisation, with over £1.5 billion in new business won - investing in over 1,400 new passenger vehicles and over 1,100 new freight locomotives and wagons, and in the refurbishment of much of its in-fleet equipment.
• In April 2000 the Porterbrook group of companies was acquired by Abbey National.
• Chiltern Railways is owned by M40 Trains. All shares in M40 Trains are owned by Laing Investments Ltd through Laing Rail Ltd.
  

For further information about Porterbrook contact Rupert Brennan Brown, Head of Communications on 01332 263251 (m: 07799 337052)

For further information about Chiltern Railways please contact Chiltern Railways Press Office on 020 7535 9980