1. The UK intercity market model and the role and place of National Express Bruce Alexander Business Development Director

2. £300m Highly deregulated market. Route viability is totally commercial Operators able to compete rapidly on selected routes Outsourced model, using 3 rd Party operators for 80% of services Consistent service and behaviour standards across all operators National Express has the only nationwide network of services Work with local councils on facilities Customer satisfaction important in driving longer term loyalty Revenue growth through the recession reflecting value and convenience of coach London services Airport services Seasonal services Cross country services Festivals & Events services Commuter services Increased price competition from rail

3. £300m Highly deregulated market. Route viability is totally commercial Operators able to compete rapidly on selected routes Outsourced model, using 3 rd Party operators for 80% of services Consistent service and behaviour standards across all operators National Express has the only nationwide network of services Work with local councils on facilities Customer satisfaction important in driving longer term loyalty Revenue growth through the recession reflecting value and convenience of coach London services Airport services Seasonal services Cross country services Festivals & Events services Commuter services Increased price competition from rail

4. £300m Highly deregulated market. Route viability is totally commercial Operators able to compete rapidly on selected routes Outsourced model, using 3 rd Party operators for 80% of services Consistent service and behaviour standards across all operators National Express has the only nationwide network of services Work with local councils on facilities Customer satisfaction important in driving longer term loyalty Revenue growth through the recession reflecting value and convenience of coach London services Airport services Seasonal services Cross country services Festivals & Events services Commuter services Increased price competition from rail

5. £300m Highly deregulated market. Route viability is totally commercial Operators able to compete rapidly on selected routes Outsourced model, using 3 rd Party operators for 80% of services Consistent service and behaviour standards across all operators National Express has the only nationwide network of services Work with local councils on facilities Customer satisfaction important in driving longer term loyalty Revenue growth through the recession reflecting value and convenience of coach London services Airport services Seasonal services Cross country services Festivals & Events services Commuter services Increased price competition from rail