RNS Number:4640J
GB Railways Group PLC
01 April 2003



1 April 2003



                             GB Railways Group Plc

                              Pre-close Statement


GB Railways is pleased to announce good progress in all three of its businesses.


Revenue on Anglia Railways for the year to 31 March 2003 grew at well above the
industry average rate, and revenue now exceeds pre-Hatfield levels. GB Railways
receives a management fee for operation of the franchise, and will share in any
upside against an agreed budget with the SRA in the period to March 2004.


Hull Trains has moved into operating profit in the second half of 2002/3 - and
revenue continues to grow. Contracts for four new 125mph trains are nearing
finalisation. These will enter service in 2005.


GB Railfreight continues to trade above budget. The previously announced #2m per
annum five year contract for British Gypsum commenced last month, and a further
5 locomotives will arrive in May 2003 which brings the fleet to 17.


GB Railways continues to seek to apply the expertise and experience of its
management team to a broader portfolio of railway franchises. The company is
currently on the shortlist for Wales & Borders (in partnership with Connex), and
for Merseyrail (in partnership with Keolis), and has pre-qualified for the
Greater Anglia and Northern Rail franchises.


The group's operating businesses continue to win awards for quality and
innovation:

      * Anglia Railways won the Customer Service Award at this month's Rail
        Industry Innovation Awards

      * Hull Trains won a prestigious "Mobius" award in Los Angeles last
        month, for a radio advertising campaign

      * GB Railfreight won the "Rail Business of the Year" award last month at
        the HSBC Rail Business Awards


The Directors expect Group profits for the year just completed to be at least in
line with market expectations, with continued progress into the future.


For further information contact:

Jeremy Long, GB Railways Group Plc              020 7983 5104

Max D Steinkopf, GB Railways Group Plc          020 7983 5103

John Coles, Bell Pottinger Financial            020 7861 3888

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