27th Jul 2006 10:50
Eurotunnel PLC/Eurotunnel S.A.27 July 2006 27 July 2006 Immediate release End to dispute between Eurotunnel and the Railways regarding their contribution to the Channel Tunnel operating costs Eurotunnel and the Railways (SNCF and British Railways Board) have reached anagreement bringing an end to the dispute, started in 2001, regarding thecalculation of their contribution to the Channel Tunnel operating costs. This dispute had led to an application before an Arbitral Tribunal that decidedupon the financial years 1997 to 2002, and subsequently to a first, partial,agreement between Eurotunnel and the Railways in December 2005 in relation tothe years 1999 to 2004. The current agreement is definitive and brings to an end the various disputesconcerning operating costs. It confirms the agreement relating to the years upto 2004, settles the 2005 financial year and sets out a lump sum mechanism forthe majority of operating costs for each of the years from 2006 to 2014inclusive. Consultation mechanisms have also been put in place in order todetermine the contribution of the Railways to renewal investments that concernthem. These measures allow the Railways to participate in the savings made byEurotunnel with respect to its railway costs (excluding Shuttles). Jacques Gounon, Chairman and Chief Executive of Eurotunnel said "It wasregrettable that Eurotunnel had had a dispute with its principal customer fornearly 10 years and it was therefore necessary to turn that page. This agreementrestores a favourable climate for better cooperation between the Railways andEurotunnel". Ndegrees 989/2006 For media enquiries contact John Keefe on + 44 (0) 1303 284491. Email: [email protected] For investor enquiries contact Xavier Clement on + 33 1 55 27 36 27. Email: [email protected] www.eurotunnel.com Eurotunnel manages the infrastructure of the Channel Tunnel and operatesaccompanied truck shuttle and passenger shuttle (car and coach) services betweenFolkestone, UK and Calais, France. Eurotunnel also earns toll revenue fromtrain operators (Eurostar for rail passengers, and EWS and SNCF for railfreight) which use the Tunnel. Eurotunnel is quoted in London, Paris andBrussels. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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