Atlantic Express solicits consents to allow $15 million note placement

New York, Feb. 15 - Atlantic Express Transportation Corp. said it has begun soliciting consents from holders of its 12% senior secured notes due 2008 and its senior secured floating-rate notes due 2008 to allow for a direct placement of $15 million of third-priority senior secured notes due 2008 and associated pay-in-kind notes.

The solicitation is also to waive compliance with certain provisions of the note indenture and certain events of default.

The consent solicitation ends at 5 p.m. ET on Feb. 23.

Jefferies & Company Inc. is the information agent (504 681-5721).

Atlantic Express is a Staten Island, N.Y., provider of school bus transportation.

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