South Devon Railway plc Share Issue Regulation Statement


	The South Devon Railway plc Share Prospectus

Due to regulatory restrictions the share issue is only open to individuals resident in the UK, Jersey or the Isle of Man aged 18 years or older (20 years or older in the case of a person resident in Jersey). Applicants must not be located within the United States and not a US Person within the meaning of Regulation S under the US Securities Act of 1933, as amended, and not a resident of Australia, Canada or Japan.

I confirm that I satisfy the conditions above .

© South Devon Railway plc 2001