National Express is acquiring School Services & Leasing Inc. ("SSL"), the second largest privately owned student transportation bus company in the USA, for 136.7 million pounds sterling ($205 million ) in cash. The acquisition will be funded through existing bank facilities. The transaction is scheduled to complete on 31st August, 2000, following receipt of Surface Transportation Board consent. The acquisition is expected to be immediately earnings enhancing before the amortisation of goodwill.