UIC Legal Group Information Session Paris, 19th February 2008 The Rail Working Group View Howard Rosen CBE, MA (Oxon) Principal, Howard Rosen Solicitors, Zug, Switzerland Chairman, Rail Working Group The Cape Town Convention: International Interests in Railway Rolling Stock

Luxembourg 2007 participants from 42 States and 12 international organizations at the Diplomatic Conference

UIC Legal Group Information Session Paris, 19th February 2008 The Rail Working Group View Introducing the RWGIntroducing the RWG Why the Luxembourg Protocol is importantWhy the Luxembourg Protocol is important Finding the right balance in the IndustryFinding the right balance in the Industry What the rail industry needs to doWhat the rail industry needs to do The Cape Town Convention: International Interests in Railway Rolling Stock

 AAE Ahaus Alstatter Eisenbahn  The Alta Group  Arendt & Medernach  Armfelt & Associés  Ashurst  Aviation Advocacy  Bombardier Transportation  CIT Comité international des transports ferroviaires (CIT)  Community of European Railways  Costaferroviaria  debis Financial Engineering GmbH  Denton Wilde Sapte  Deutsche Bahn  Deutsche Verkehrs Bank  DLA Piper  Dresdner Kleinwort  English Welsh and Scottish Railway  Europe Rail Consultancy Ltd  European Intermodal Association  European Investment Bank  Field Fisher Waterhouse LLP  Freehill Hollingdale & Page  Freshfields  GE Capital  Global Capital Finance GmbH & Co. Europe KG  Howard Rosen Solicitors  HSBC Rail  HSH Nordbank  Intergovernmental Organisation for International Carriage by Rail (OTIF)  KfW Kreditanstalt for Wiederaufbau  Lenz & Staehelin  Mayer, Brown, Rowe & Maw LLP  McCarthy Tétrault  Nauta Dutilh  NIB Capital Bank N.V.  Norton Rose  Ober Kaler  Private Wagon Federation  Rajinder Narain & Co  Stephenson Harwood  Transnet  Trinity Industries  UIC International Union of Railways  Union of European Railway Industries  White & Case  Wiersholm Mellbye & Bech Introducing the Rail Working Group

Introducing my mother-in-law

Why the Protocol’s important - the Different Stakeholder Perspectives Banks and LessorsBanks and Lessors OperatorsOperators ManufacturersManufacturers CustomersCustomers GovernmentsGovernments Aid AgenciesAid Agencies

Finding the right balance in the Industry CostsCosts Liability of RegistrarLiability of Registrar Insolvency IssuesInsolvency Issues Reconciling the Public Service imperativeReconciling the Public Service imperative Legacy problemsLegacy problems

What the rail industry needs to do Actively support the work of UNIDROIT and the RWGActively support the work of UNIDROIT and the RWG Educate itself – seminars and articlesEducate itself – seminars and articles Create universal identification systemsCreate universal identification systems Press governments to sign and ratify the Cape Town Convention and Luxembourg Protocol (with the right options)Press governments to sign and ratify the Cape Town Convention and Luxembourg Protocol (with the right options) Be creativeBe creative

And...remember TINA

There Is No Alternative

INFRAS/IWW: External Costs in Transportation Source: INFRAS/IWW Update study on external costs, 2004 Road traffic produces on average three times the external costs of rail traffic!

Now - Regina Speed: : 110 – 200 km/h Travel time :0:53 min Energy:0.10 kWh / pkm* Current Energy use: kWh/pkm Environmental Effect of rail traffic and how new capital investment makes a difference - Energy Usage Example: Sweden Stockholm – Västerås Early 1990s Intercity trains (5-Wagons) Speed: 110 – 130 km/h Travel time:1:18 min Energy: 0.12 kWh/pkm* ~50% Energy saving with a clearly shorter travel time ! *pkm = Passenger kilometer

Environment effect of Rail Transport – Energy Use and CO2 Emmissions Energy usageCO 2 -Emissions With “Green Electricity” CO 2 emissions are only g/pass-km 4 x 6 x 7 x 11 x

UIC Legal Group Information Session Paris, 19th February 2008 The Rail Working Group View The Cape Town Convention: International Interests in Railway Rolling Stock