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At the Annual General Meeting to be held later today, Sir Patrick Brown, Chairman of Go-Ahead, will make the following statement:

'The group's overall trading for the first quarter has been strong, in line with management's expectations.

Our regulated bus operations in London continue to perform well, and have benefited from the Blue Triangle acquisition completed at the end of June 2007. Ongoing volume growth contributed to an improved financial performance in almost all of our deregulated bus businesses compared to the first quarter of last year. The exception was our West Midlands operation where the financial results remain below our medium term requirements. For the division as a whole, approximately half of our fuel requirements are hedged for the current financial year.

In our rail division, Southern and Southeastern continued to benefit from growth in passenger volume, leading to an increase in first quarter passenger income of 12.7% compared to the first quarter of last year. This revenue growth has been partly offset as expected however, by higher costs combined with the 80% profit share in Southern and reduced DfT subsidies under the terms of the franchises.Our London Midland franchise, awarded on 21 June, is due to start on 11 November and is progressing to plan.

We remain committed to improving the performance of our aviation services division, following a challenging second half of last year. Ground handling contracts with British Airways were implemented during the first quarter and most of the initial transition issues have now been resolved. First quarter cargo volumes were ahead of the same period last year and our car parking operations performed in line with our expectations in the quarter.

Net debt excluding restricted cash at the end of the quarter was £260.0m, compared to £237.2m at 30 June 2007. We have purchased 2.373 million of our shares since the year end for £61.5m and will seek shareholder approval for the renewal of the authority for the share buyback programme at today's AGM.

The board remains confident that the group will make further progress this year."

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Notes to Editors

BUS

The group's bus division operates over 3,600 buses, providing over 540 million passenger journeys and covering around 240 million vehicle kilometres each year. Operations fall into four main geographical areas: deregulated services in north east; deregulated services in West Midlands; deregulated services in south east / southern England; and regulated services for Transport for London in the capital.

RAIL

The group's rail division operates a fleet of over 620 trains on which over 280 million passenger journeys are undertaken. Concentrated in the south east of England both our franchises, Southern and Southeastern, operate a mix of suburban commuter and mainline routes throughout south London, Kent, Surrey and Sussex. The Southeastern franchise will include the operation of new high speed trains on the domestic Channel Tunnel Rail Link into St Pancras from 2009 while the Southern franchise will include the operations of the Gatwick Express rail services from May 2008. From November 2007 Go-Ahead will also operate the newly formed West Midlands rail franchise, to be named as London Midland.

AVIATION SERVICES

The group's aviation services division undertakes a wide range of support services for national and international airlines. Services provided include cargo handling, passenger check-in, baggage handling, information desks, executive lounges, ground handling and customs clearance. In the last year, we provided services to 45 million passengers as well as over half a million aircraft movements. The division includes Meteor Parking which is one of the largest parking companies in the UK, managing around 65,000 parking spaces predominantly at BAA airports, with a range of customers, including BAA, local authorities, retail outlets, NHS trusts, hotels and rail stations. Well known brands include 'Pink Elephant', 'Park 1' and 'eparking'.