Articles of Association - Borrowing Powers

The Go-Ahead Group plc

("Go-Ahead" or "The Company")

Articles of Association - Borrowing Powers

The Go-Ahead Group plc will today post a Circular to Shareholders incorporating Notice of a General Meeting of the Company to be held at the offices of Investec, 2 Gresham Street, London, EC2V 7QP on 22 February 2010 at 09:00 hours.

The General Meeting is being called to vary the borrowing limit from three times adjusted capital and reserves in its Articles of Association to a maximum borrowing limit of £750m by way of an ordinary resolution.

The proposed variation, which the ordinary resolution will effect, is requested following the recent reduction in adjusted capital and reserves associated with the disposal of the majority of its aviation services operations. The proposed maximum borrowing limit of £750m will allow sufficient flexibility for potentially significant, albeit temporary, increases in borrowings through refinancing and provide normal liquidity headroom.

Go-Ahead has not changed its approach to managing its capital structure, including the stated policy to target a range of 1.5x-2.5x adjusted net debt to EBITDA through the cycle, where adjusted net debt is calculated as net debt excluding restricted cash. As at 27 June 2009, the date of the last published balance sheet, Go-Ahead had total borrowings of £298.1m and adjusted net debt of £272.3m, equivalent to 1.57 x EBITDA.

Two copies of the following documents will today be submitted to the UKLA, in compliance with Listing Rule 9.6.1, and will shortly be available for inspection at the UKLA's Document Viewing Facility, situated at Financial Services Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS:

1. Circular incorporating Notice of a General Meeting

2. Notification of a General Meeting

3. Form of Proxy

The Notice of General Meeting is also available on the Company's website: www.go-ahead.com.

For further information please contact:

Carolyn Sephton, Company Secretary - 0191 232 3123