Bombardier and Siemens are joining forces with Angel Trains and international investment and advisory firm, Babcock & Brown, in a consortium, Express Rail Alliance, bidding to win the Intercity Express Programme (IEP) which will replace the existing High Speed Trains (HST) with a new generation of long distance trains by 2014, the companies announced on 18 June 2007.

The Intercity Express Programme is the most significant rolling stock investment initiative in the UK for over 30 years.

A key consideration of the Intercity Express Programme highlighted by Express Rail Alliance is the significant engineering resource required to deliver large volumes of new
trains within relatively short timescales. Three unique train sets – diesel, electric and hybrid – are needed to fulfil the requirements of the IEP and no rail manufacturer currently has a suitable train design within an existing platform. For this reason, developing and supplying up to 2000 new vehicles to stringent delivery deadlines carries
less risk with two manufacturers involved and sharing the major engineering resources required.

Colin Walton, Chairman of Bombardier Transportation UK explained: “A new high speed train platform typically has up to 800,000 engineering hours behind it. In the
case of the IEP, a family of three train types must be developed simultaneously with the bulk of the engineering to be completed within 18 months of contract award. The
programme has a potential requirement of approaching 400 engineers committed fulltime to one project. Combining our resources will enable us to collectively deliver the
best possible engineering back up for the IEP.”

The Express Rail Alliance consortium includes consortium partners Bombardier Transportation, Siemens Project Ventures, Angel Trains and Babcock & Brown. The
financing of Express Rail Alliance will be procured on a competitive basis in line with HM Treasury’s guidance and offering best value for money.

Haydn Abbott, Managing Director of Angel Trains said: "Angel Trains brings to the table a wealth of expertise and financial ability. We have extensive experience in
financing and procuring new trains and a strong engineering team and have invested a total of €5.3 billion in new trains. Together with our partners at Express Rail Alliance,
we believe we have the best players in the field and are delighted to be a part of this consortium."

Christian Roth, managing director of Siemens Transportation Systems said: “A rail contract of this magnitude within such tight timescales has never been placed with a
single party before. The Department for Transport requested a consortium approach, so the formation of Express Rail Alliance is in line with this strategy. By working in this
partnership with flexible engineering resources and adopting best practice, Siemens and Bombardier as part of Express Rail Alliance can deliver the 'whole system, whole
life' approach needed for this important project.”