| In the process of creating this business, Angel Trains International has been a pioneer in the creation of many new markets in a liberalising and increasingly competitive European rail sector. It was the first mover in the leasing of freight locomotives and today owns more than 250 units. Angel Trains Group has assets on lease in Austria, Belgium, Denmark, France, Germany, Italy, Luxembourg, the Netherlands and Switzerland, as well as the United Kingdom. Since its inception in 2000 and by organic growth alone, Angel Trains International has thus reached a size comparable to that of the original UK activity at the time of its privatisation from British Rail. |