Slaughter and May, working as an integrated team with Paul, Weiss, Rifkind, Wharton & Garrison LLP, is advising FirstGroup plc ('FirstGroup') on a fully underwritten rights issue to raise approximately £615 million (the 'Rights Issue').

The Rights Issue, which was announced on 20 May 2013, will provide FirstGroup with additional finance resources to continue investment in the business and to reduce the Group's net indebtedness by paying down borrowings under the Group's bank facilities.

The Rights Issue is subject to the approval of shareholders at a general meeting of FirstGroup, which is expected to be held on 10 June 2013.

J.P Morgan Cazenove and Goldman Sachs International are joint sponsors, joint global co-ordinators and, together with Bank of America Merrill Lynch, joint book runners. HSBC Bank plc is acting as underwriter and joint lead manager.

CONTACTS

Corporate and Commercial: Andrew Jolly (partner), Filippo De Falco (associate), Richard Marron (associate), Robyn Butler (associate), Bernadette Harkin (associate); Pensions and Employment: Jonathan Fenn (partner), Olivia Buchan (associate); Tax: William Watson (partner), George Mitchell (associate)

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