MR. ROLLASON: The company evolved from National Express Coaches ltd., which is the long distance intercity coaching operation run in the UK, similar in some ways to Greyhound in the States but with notable differences. National Express Coaches was privatized by the Tory government in the early 1990’s. It was then floated in 1992 on the London Stock Exchange and since then, the company’s expanded to be one of the leading European or global transportation groups. It encompasses obviously long distance coaching; we have a bus operation in Birmingham, which is Britain’s second city, in the West Midlands; we own nine train operating companies in the UK; we have school buses and also a transit operation in the US and we are the largest privately-owned operator of public transport systems in Australia with three out of five train and tram franchises in Melbourne plus bus operations in Perth, Melbourne, Sydney and Brisbane. We provide mass passenger transportation services, which are basically coaches, buses, heavy rail and light rail. We are very customer focused and we believe very heavily in investment. We invest in our services and, for example, are introducing over GBP500 million of new rolling stock into the UK train scene. We have some of the newest buses in the UK. We are investing in the first Euro III compliant buses, which are the most energy efficient buses in the UK. In the United States, we have an ambitious investment program for replacement of our U.S. bus fleet. And also in Australia, we have instituted the first new rolling stock on to the Australian railways in Melbourne for over a decade. So that is one of the core themes of our success. And also the fact that we believe we are very customer facing and passenger orientated. That also comes from the investment we make in our businesses.
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