UK Taxi Market

• London sales in first two months ahead of last year

• Conditions of Fitness decision in "coming weeks"

• New suspension launched in October 2005

• Warranty costs reducing – more material and utility cost increases in pipeline

• Emissions regulations commence July 2006

• New agreement with Lloyds

• Move Mann & Overton London, our main dealership, into significantly larger premises in Q4 2006

• Euro IV engine upgrade required from January 2007

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