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THIS ANNOUNCEMENT IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.

The Go-Ahead Group plc is pleased to announce that it has launched and priced an issue of £200 million 5.375% bonds due September 2017. The bond issue is expected to close on 24 March 2010. This follows the Group’s announcement on 5 March 2010 that it had received long-term credit ratings of BBB- (stable outlook) and Baa3 (stable outlook) from Standard & Poor’s and Moody’s respectively.

Go-Ahead's Group Finance Director, Nick Swift, commented: "We are delighted to have successfully completed our first sterling bond issue in good market conditions. The issue further strengthens the Group by diversifying our sources of finance and extending our debt maturity profile and was very well subscribed by investors. The proceeds of the bond issue will be used to pay-down bank debt and for general corporate purposes.”

For further information, please contact:

Notes to editors

Go-Ahead

Go-Ahead is a leading UK public transport operator, providing high quality services in the bus and rail sectors. Employing around 25,000 people across the country, almost one billion passenger journeys are undertaken on our services each year. We are committed to operating our companies in a socially and environmentally responsible way and are proud to have been awarded the Carbon Trust Standard after taking action on climate change. In addition to the travelling public, our customers include the Department for Transport, Transport for London (TfL) and local authorities.

Bus

Go-Ahead is one of the UK's largest bus operators. With a fleet of over 3,500 buses, we carry, on average, around 1.6 million passengers every day. Our operations are focused on high density commuter markets. We have a strong presence in London, with around 21% market share, where we provide regulated services for TfL. We operate deregulated services in the North East, Oxford, the South East and Southern England. We recently expanded our bus operations with the acquisition of Plymouth CityBus in the UK, and have established a Yellow School Bus joint venture in North America.

Rail

The rail operation, Govia, is 65% owned by Go-Ahead and 35% by Keolis. It is the busiest rail operation in the UK, responsible for nearly 30% of all UK passenger rail journeys through its three rail franchises: Southern (which includes the Gatwick Express), Southeastern and London Midland. In December 2009, Southeastern began operating the UK's first high speed domestic rail service between Kent and London, significantly reducing journey times.

For further information about our rail franchises please visit our factsheets:
http://www.go-ahead.com/goahead/aboutus/our_markets/uk_rail_market/

Aviation Services

The Group also provides car parking services through Meteor, which includes the 'Meet & Greet' and 'Pink Elephant' brands and operates limited ground handling services at Terminal 1, Heathrow.

For further information visit www.go-ahead.com

Any investment decision made in connection with the bond issue MUST be based solely on the information contained in the final Prospectus. The final Prospectus for the bonds is expected to be approved by the UK Listing Authority on or about 22 March 2010 and will be available to view via the London Stock Exchange's Regulatory News Service.

Stabilisation in respect of the Bonds may be conducted in accordance with FSA and ICMA Rules all as more fully described in the final Prospectus.

Disclaimer

The bonds referred to in this document have not been, and will not be, registered under the US Securities Act of 1933 (the "Securities Act") and may not be offered or sold in the United States other than pursuant to an exemption from the registration requirements of the Securities Act. The group does not intend to make a public offer of the bonds in the United States or to register any securities under the Securities Act.