Notice to Bondholders

RNS Number:9164N
Metronet BCV Fin plc
13 February 2008



                    To the Holders of the Outstanding

     £165,000,000 2.8760 per cent. Indexed-Linked Guaranteed Secured Bonds
                         due 2032 (the "Bonds") 
          issued by Metronet Rail BCV Finance plc (the "Issuer")

                            ISIN XS0166411032

Unconditionally and irrevocably guaranteed as to scheduled payments of principal 
 and interest (adjusted for indexation) only pursuant to a financial guarantee 
          issued by Financial Security Assurance (UK.) Limited ("FSA")

Deutsche Trustee Company Limited (as Bond Trustee) hereby gives notice to the
Holders of the above Bonds that following the payment of the Put Option Price by
LUL, £240,821,097.63 has been paid into an account in the joint names of FSA and
the Bond Trustee at Citibank N.A. in London on the terms inter alia that it is
available to fund payments of principal and interest on the Bonds.

Bondholders should note that FSA has informed the Bond Trustee that it has the
right to direct that these escrowed funds be used either to continue to meet
debt service as scheduled or to fund the acceleration and immediate payment of
all principal and interest due. The Bond Trustee understands that further
information about the application of the escrowed funds will be released as FSA
evaluates these options.

Further information, including copies of the documentation relating to the
deposit, will be made available to Bondholders by the Bond Trustee on request.
Bondholders requesting such further information will be required to provide
evidence of their holding of the Bonds satisfactory to the Bond Trustee.

Further information provided by the Trustee may not be disclosed by any
Bondholder to any third party other than its professional advisors, any
regulatory authority or any party beneficially interested in the Bonds.

The Bond Trustee is not a financial adviser. Bondholders should consult with
their respective business and financial advisers if they have any questions
relating to this notice.

Holders may contact the Bond Trustee for the attention of [e-mail]
or [e-mail].

13 February 2008


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            The company news service from the London Stock Exchange

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