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STAR Capital Partners completes investment in Abellio

27 January 2006

STAR Capital Partners (“STAR”), the European investment fund focused on investing in capital intensive businesses, announces the completion on 30th December 2005 of two new deals in Germany: Abellio GmbH and GSES GmbH.

STAR has acquired 75.2% of Abellio GmbH, the Essen-based public transport operator, from Abellio Beteilegungs GmbH (“ABG”) (wholly-owned by the City of Essen). ABG will continue to hold a minority stake in the business. Abellio is a leading operator of local transport services in Germany and during 2005 secured key rail and bus businesses in North Rhein Westfalia, Saxony, Lower Saxony and Saxony Anhalt. Abellio has interests in transport operations covering over 17 million kilometers per annum.

The Company is led by Wolfgang Meyer (CEO) and Iain Lanaghan (CFO), formerly Group Finance Director of FirstGroup plc in the UK. Giles Fearnley (former Chief Executive of Prism Rail plc) will join the Board alongside STAR representatives.

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