New Future for the Tube Starts Here-statement on Tube Lines Profitability

January 8, 2003 Regarding the profits Tube Lines expect to make in line with delivering its commitments under the contract, Terry Morgan, Chief Executive made the following statement: "Over the first 7.5 years, the 1st review period, the profits after tax are expected to be around £148m. This is based on Tube Lines performance being in line with delivering substantial improvements to the Tube, including a 10% cut in delays over the first 12 months and new signalling systems for the Jubilee and Northern lines."