The Brink's Company Reports Third-Quarter Earnings

Reported Earnings of 70 Cents Per Share Include 29-Cent Gain on Acquisition

RICHMOND, Va., Oct. 29 /PRNewswire-FirstCall/ -- The Brink's Company (NYSE:
BCO), a global leader in security-related services, reported third-quarter
earnings from continuing operations of $33 million or 70 cents per share
versus $30 million or 64 cents per share in the third quarter of 2008.
Excluding an acquisition-related gain of $14 million or 29 cents per share,
this quarter's earnings were $20 million or 41 cents per share. (See Non-GAAP
Reconciliation on page 17.) Total revenue for the quarter was $802 million
versus $813 million in 2008. Results are summarized in the following table:

Three Months Nine Months
Ended Ended
(In millions, except September 30, Percent September 30, Percent
per share amounts) 2009 2008 Change 2009 2008 Change

Revenue $802 813 (1%) 2,286 2,404 (5%)
Segment operating profit 76 68 11% 158 203 (22%)
Operating profit 61 50 22% 129 159 (19%)
Income from
continuing operations 33 30 13% 72 93 (23%)
Net income 34 48 (28%) 78 147 (47%)

Diluted earnings per share:
Continuing operations $0.70 0.64 9% 1.52 2.00 (24%)
Net income 0.72 1.03 (30%) 1.65 3.14 (47%)

For additional details, see financial information on pages 11-18. Amounts
reported in this release are attributable to The Brink's Company and exclude
earnings related to noncontrolling ownership interests in consolidated
subsidiaries.

Michael T. Dan, chairman, president and chief executive officer, said: "When
you factor out the acquisition-related gain, it's clear that operating results
continue to reflect the decline in the global economy, as profits from
cash-in-transit operations trail year-ago levels in most of our markets. In
addition, profits in Global Services remain substantially below 2008 levels
due to the severe contraction in the diamond and jewelry market that began in
last year's fourth quarter. Third-quarter earnings were also affected by an
increase in the effective income tax rate.

"Despite the challenges posed by the global economic slowdown, third-quarter
organic revenue declined only 2% and the segment operating margin was 9.4%.
Excluding the acquisition-related gain, the segment margin was 7.7%.

"On a year-to-date basis, organic revenue is up 1% with a segment profit
margin of 6.9%. Excluding the acquisition-related gain, the year-to-date
margin is 6.3%. For the full year, we expect organic revenue growth to
remain in the low single-digit percentage range. The full-year segment
operating margin, excluding the acquisition gain, is expected to be at the low
end of the range between 7.0% and 7.5%.

"Given the uncertain economic climate, our initial target for 2010 is to grow
organic revenue in the low-to-mid single-digit percentage range and improve
the segment operating margin by 50 basis points.

"Our employees are performing admirably under very difficult business
conditions. Navigating through a worldwide economic crisis has been, and will
continue to be, a great challenge. As economies around the world stabilize
and improve, we expect to emerge as an even stronger leader in the markets we
serve."

Third-Quarter 2009 Versus 2008
Income from continuing operations increased 13% due primarily to an after-tax
gain of $14 million (29 cents per share) related to a recent acquisition in
India and lower corporate expenses. The increase was partially offset by
lower operating profit in Latin America, EMEA and North America, higher
retirement plan expenses and a higher effective tax rate. Lower profits in
cash-in-transit ("CIT") and Global Services operations affected results in all
regions.

Total revenue declined 1% to $802 million, reflecting lower sales in North
American and EMEA operations. Unfavorable currency exchange rates due to a
stronger U.S. dollar reduced revenue by 3% or $26 million. On a constant
currency basis, revenue increased 2% or $14 million due primarily to 2009
acquisitions and higher average selling prices in most regions. Last year's
third quarter revenue included $4 million related to the completed currency
conversion project in Venezuela.

Organic revenue growth, which excludes currency impact and acquisitions, was
down 2% due primarily to lower volume in most regions, partially offset by
higher average selling prices in certain countries (including the effects of
inflation in several Latin American countries).

Segment operating profit rose 11% to $76 million due mainly to a gain of $14
million related to the acquisition of a controlling interest in an India-based
company (see "Other Recent Events" on page 7). The segment operating margin
was 9.4% versus 8.4% last year. The profit increase was partially offset by
lower results from CIT and Global Services across most regions. Excluding the
acquisition-related gain, segment profit declined 9% to $62 million and the
segment operating margin was 7.7%.

Corporate expense was $10 million versus $19 million in the year-ago quarter.
The improvement was due primarily to lower foreign currency transaction
losses, reduced general and administrative expenses and higher royalty income.

Former operations expense was $5 million versus income of $1 million last
year. The increased expense was due to higher retirement plan costs.

Total operating profit (segment operating profit less former operations
expense and corporate costs) was $61 million, up 22% from $50 million last
year.

Interest expense was $3 million in both periods.

Interest income and other non-operating income totaled $1 million, down from
$5 million last year due to lower interest rates and lower average levels of
cash and cash equivalents in certain countries.

Pretax income from continuing operations was $59 million, up 16% from $51
million in 2008. Excluding the acquisition-related gain, pretax income from
continuing operations in the 2009 quarter was $45 million.

Income taxes for the quarter were $21 million versus $14 million last year
(see "Taxes" on page 6).

Minority interest (income attributable to noncontrolling interests) was $5
million versus $8 million in 2008. The decline was due primarily to lower
profits in Venezuela. Last year's results include profits from a currency
conversion project in that country.

Income from continuing operations was $33 million (70 cents per share), up
from $30 million (64 cents per share) in 2008. Excluding the
acquisition-related gain, third-quarter income from continuing operations was
$20 million (41 cents per share).

International Operations
Third-Quarter 2009 versus 2008
Third-quarter revenue from international operations rose 1% to $579 million
due primarily to higher average selling prices and an acquisition in Latin
America, which were largely offset by the impact of unfavorable foreign
exchange rates and volume declines in CIT and Global Services. On a constant
currency basis, international revenue was up 5%.

Operating profit rose 16% to $65 million. The operating margin was 11.3%
versus 9.8% in 2008. Excluding the acquisition-related gain, operating profit
declined 9% to $51 million, yielding an operating margin of 8.9%. The decline
was due primarily to the impact of unfavorable foreign exchange rates and
lower results from CIT and Global Services.

EMEA (Europe, Middle East, Africa): Revenue declined 9% to $324 million (down
6% on a constant currency basis). Operating profit declined 11% due to lower
results in most European countries, reflecting ongoing weakness in diamond and
jewelry markets and continued pressure on pricing and service frequency.

Latin America: Revenue grew 17% to $235 million (up 23% on a constant
currency basis) due primarily to the inclusion of $20 million from an
acquisition in Brazil and higher selling prices. Operating profit declined
slightly due primarily to inflation-based price increases that did not fully
recover cost increases, the inclusion in last year's results of income from
the currency conversion project in Venezuela, and the impact of unfavorable
foreign exchange rates. These items were partially offset by incremental
profits from Sebival, a Brazilian acquisition that closed in the first quarter
of this year.

Asia-Pacific: Revenue rose 10% to $20 million (up 10% on a constant currency
basis) due mainly to the impact of third-quarter acquisitions in India and
China. Operating profit increased substantially due to the $14 million gain
related to the acquisition of a controlling interest in Brink's Arya (India).
Excluding this gain, profits declined due to lower diamond and jewelry volume
and related pricing pressures.

North American Operations
Third-Quarter 2009 versus 2008

Third-quarter revenue in North America fell 6% to $223 million (down 5% on a
constant currency basis) due primarily to lower CIT and Global Services volume
in the U.S. and the negative impact of a stronger U.S. dollar on Canadian
operations.

Segment operating profit was $10 million versus $12 million in 2008. The
decline was due primarily to lower CIT volume and continued weakness in the
diamond and jewelry segment of Global Services, partially offset by higher
average selling prices. The operating margin for the quarter was 4.7%, down
from 5.0% in last year's third quarter.

Capital Expenditures
Capital expenditures during the quarter totaled $38 million. Full-year
capital spending in 2009 is expected to be approximately $185 million.
Third-quarter depreciation and amortization was $34 million. Full-year
depreciation and amortization is expected to be approximately $135 million.

Corporate Expense
Total corporate expense in the third quarter was $10 million, down from $19
million in the 2008 quarter. The decline reflects a $5 million reduction in
foreign currency transaction costs, a $3 million reduction in general and
administrative expenses, and a $1 million increase in royalty income.
Full-year corporate expense is expected to be approximately $27 million, down
from $55 million in 2008.

Former Operations
Expenses related to former operations totaled $5 million versus income of $1
million last year. The increased expense was driven by higher costs related
to U.S retirement plans, which were caused by a decline in plan assets during
2008.

Expenses from former operations include U.S. pension and retiree medical costs
related to the company's former coal operations. These costs are included in
results from continuing operations.

Pension Contribution
On August 20, Brink's made a voluntary $150 million contribution to its
primary U.S. retirement plan to improve the funded status of the plan. The
contribution was comprised of $92.4 million of cash and 2,260,738 newly issued
shares of Brink's common stock valued for purposes of the contribution at
$25.48 per share or $57.6 million. The contribution addressed the company's
primary U.S. retirement plan funding obligation in a proactive and
tax-efficient manner while enhancing its financial flexibility to invest in
future growth opportunities.

The contribution was made as a 2008 plan year contribution for income tax
reporting purposes. As a result, Brink's received approximately $30 million
in cash in the third quarter from tax benefits related to the contribution.
The balance of the cash portion of the contribution, approximately $62
million, was funded with debt.

At December 31, 2008, the U.S. pension plan was underfunded by $308 million.
After taking into account the contribution and a remeasurement of plan assets
and obligations as of July 1, 2009, the plan's underfunding has been reduced
by almost $200 million to a deficit of approximately $104 million at September
30, 2009.

In addition, the company's 2009 pretax earnings are expected to improve by
approximately $4 million due to the contribution, reflecting estimated pension
income of $6 million versus a prior estimate of $2 million that was disclosed
in the company's 2008 Form 10-K. The $4 million increase in pension credit is
being recognized ratably in earnings for the third and fourth quarters of
2009, and will be partially offset by increased borrowing costs. The net
effect of the contribution, including related borrowing costs and the dilutive
impact of issuing new shares, is expected to be accretive to earnings by
approximately two cents per share in 2009 and four cents per share in 2010.

The contribution also is expected to reduce required contributions to the plan
in 2010 and 2011 by a total of $94 million, thereby enhancing the company's
flexibility to pursue future growth opportunities.

Taxes
The effective income tax rate for the quarter was 34.7% versus a year-ago rate
of 27.9%. This year's higher rate is due primarily to changes in tax assets
and liabilities resulting from a reduction in estimated tax benefits from
Venezuela inflation adjustments, and from changes in tax laws and elections,
partially offset by the tax benefits of the nontaxable gain reported with
respect to the acquisition in India. Last year's lower rate was affected
favorably by the net reduction in valuation allowances as a result of improved
performance in certain countries. The effective tax rate for the full year is
expected to be between 26% and 29%, up from a previous estimate of 23% to 26%.

Other Recent Events
On September 1, Brink's acquired a controlling interest in Brink's Arya, a
cash handling and secure logistics company based in Mumbai, India. Brink's
has owned 40% of the company since its founding in 1981, and purchased an
additional 38% stake for $22 million. The acquisition resulted in a pretax
gain of $14 million, which represents the difference between the fair value
and book value of the 40% position held prior to the acquisition. Brink's
also agreed to purchase the remaining 22% of the company for approximately $13
million, pending satisfaction of certain conditions that are expected to be
met by September 1, 2011. Brink's Arya operates throughout India, one of the
largest and fastest growing cash services markets in Asia, and is an integral
part of the Brink's Global Services network. The subsidiary had 2008 revenue
of $25 million and employs approximately 2,300 people.

On September 4, Brink's acquired a majority stake in ICD Limited, a premium
provider of commercial security services in the Asia-Pacific region. ICD
designs, installs, maintains and manages high-quality commercial security
systems. With principal operations in China, ICD also has offices in Hong
Kong, India, Singapore and Australia. The company employs approximately 200
people and had 2008 revenue of $12 million. Terms of the transaction were not
disclosed. Penetrating new security-related markets is an important element
of the company's long-term growth strategy, and ICD gives Brink's an entry
point into Asia's fast-growing commercial security market and supplements its
existing presence in the region.

Discontinued Operations
Income from discontinued operations was $1 million or 2 cents per share versus
$19 million or 39 cents per share in the third quarter of 2008. Third-quarter
2008 results from discontinued operations include operating results from
Brink's Home Security Holdings, Inc., which was spun off as an independent
publicly traded company on October 31, 2008.

Noncontrolling Interests
Net income attributable to noncontrolling interests (minority shareholders in
subsidiaries) was $5 million, down from $8 million in the year-ago quarter due
mainly to the profit decline in Venezuela.

Net Income
Third-quarter net income attributable to The Brink's Company common
shareholders, which includes results from continuing and discontinued
operations, was $34 million or 72 cents per share versus $48 million or $1.03
per share in 2008.

Year-To-Date 2009 Versus 2008
Revenue declined 5% to $2.3 billion. Unfavorable currency exchange rates due
to a stronger U.S. dollar reduced revenue by 8% or $197 million. On a
constant currency basis, revenue increased 3% or $79 million due mainly to the
inclusion of incremental revenues from recently acquired operations and higher
selling prices in certain regions, partially offset by lower volumes in CIT
and Global Services. Revenues for the first nine months of 2008 include $50
million related to the currency conversion project in Venezuela.

Organic revenue growth, which excludes currency impact and acquisitions, was
up 1% due primarily to higher average selling prices (which include the
effects of inflation in several Latin American countries). Excluding revenue
related to last year's currency conversion project, organic revenue growth was
3% (see Organic Revenue Growth table on page 13).

Segment operating profit was $158 million, down 22% from $203 million in 2008.
Most of the $45 million profit decline was due to the inclusion in 2008
results of profits from the currency conversion in Venezuela, which generated
$50 million of high-margin revenue. In addition, this year's profits from
international operations declined due to lower demand in CIT and Global
Services, partially offset by improved results in North America.

Corporate expense was $17 million versus $43 million last year. The
improvement was due primarily to lower general and administrative costs ($8
million), lower foreign exchange transaction costs ($6 million), lower
expenses related to strategic reviews and proxy matters ($5 million), higher
royalty income ($5 million) and gains on the sale of real estate ($3 million).

Former operations expense was $12 million versus $300,000 last year due mainly
to higher costs related to retirement plans, which were partially offset by
gains on the sale of coal assets.

Total operating profit (segment operating profit less former operations
expense and corporate costs) was $129 million, down 19% from $159 million last
year.

Interest expense was $8 million versus $9 million last year.

Interest income and other non-operating income totaled $7 million down from
$10 million last year due to lower interest rates and lower average levels of
cash and cash equivalents in certain countries.

Pretax income from continuing operations was $128 million, down 20% from $160
million in 2008.

Income taxes were $38 million versus $37 million last year.

Minority interest (income attributable to noncontrolling interests) was $19
million versus $30 million in 2008. The decline was due primarily to lower
profits in Venezuela. Last year's results include profits from a currency
conversion project in that country.

Income from continuing operations was $72 million ($1.52 per share) versus $93
million ($2.00 per share) in 2008.

Conference Call
The company will host a conference call today, October 29, at 11:00 a.m.
Eastern Time to discuss this press release. Interested parties can listen to
the conference call by dialing (877) 407-0778 (domestic) or (201) 689-8565
(international), or via live webcast at www.brinkscompany.com. Please dial in
at least five minutes prior to the start of the call. Dial-in replay will be
available through November 12, 2009, by calling (877) 660-6853 (domestic) or
(201) 612-7415 (international). The conference account number is 286 and the
conference ID for the replay is 334910. A webcast replay will also be
available at www.brinkscompany.com.

About The Brink's Company
The Brink's Company (NYSE: BCO) is the world's premier provider of secure
transportation and cash management services. For more information, please
visit The Brink's Company website at www.brinkscompany.com or call toll free
877-275-7488.

Forward-Looking Statements
This release contains both historical and forward-looking information. Words
such as "anticipates," "estimates," "expects," "projects," "intends," "plans,"
"believes," "may," "should" and similar expressions may identify
forward-looking information. Forward-looking information in this release
includes, but is not limited to, future revenue growth and earnings for The
Brink's Company, including organic revenue growth and segment operating profit
margin in 2009 and 2010, the impact of the current global economic crisis on
overall results as well as results in each of Europe, Latin America and North
America, acquisitions and other growth opportunities, expected capital
expenditures for 2009, full-year depreciation and amortization and corporate
expense, the projected effect of the voluntary contribution to the U.S.
pension plan on the company and the plan, and the anticipated annual effective
tax rate for 2009. The forward-looking information in this release is subject
to known and unknown risks, uncertainties and contingencies, which could cause
actual results, performance or achievements to differ materially from those
that are anticipated.

These risks, uncertainties and contingencies, many of which are beyond our
control, include, but are not limited to the impact of the global economic
slowdown on our business opportunities, access to the capital and credit
markets, the recent market volatility and its impact on the demand for our
services, the implementation of investments in technology and value-added
services and cost reduction efforts and their impact on revenue and profit
growth, the ability to identify and execute further cost and operational
improvements and efficiencies in our core businesses, the willingness of our
customers to absorb fuel surcharges and other future price increases, the
actions of competitors, our ability to identify strategic opportunities and
integrate them successfully, acquisitions and dispositions made in the future,
our ability to integrate recent acquisitions, regulatory and labor issues and
higher security threats, the impact of turnaround actions responding to
current conditions in Europe, the return to profitability of operations in
jurisdictions where we have recorded valuation adjustments, the input of
governmental authorities regarding the non-payment of customs duties and
value-added tax, the stability of the Venezuelan economy and changes in
Venezuelan policy regarding exchange rates, the potential for a devaluation of
the bolivar fuerte, the likelihood that Venezuela will be designated "highly
inflationary" for accounting purposes as of January 1, 2010, the absence of
the currency conversion project in Venezuela, variations in costs or expenses
and performance delays of any public or private sector supplier, service
provider or customer, our ability to obtain appropriate insurance coverage,
positions taken by insurers with respect to claims made and the financial
condition of insurers, safety and security performance, our loss experience,
changes in insurance costs, risks customarily associated with operating in
foreign countries including changing labor and economic conditions, currency
devaluations, safety and security issues, political instability, restrictions
on repatriation of earnings and capital, nationalization, expropriation and
other forms of restrictive government actions, costs associated with the
purchase and implementation of cash processing and security equipment, changes
in the scope or method of remediation or monitoring of our former coal
operations, the timing of the pass-through of certain costs to third parties
and the timing of approvals by governmental authorities relating to the
disposal of the coal assets, changes to estimated liabilities and assets in
actuarial assumptions due to payments made, investment returns, annual
actuarial revaluations, and periodic revaluations of reclamation liabilities,
the funding requirements, accounting treatment, investment performance and
costs and expenses of our pension plans, the VEBA and other employee benefits,
whether the Company's assets or the VEBA's assets are used to pay benefits,
the risk that the recent contribution to the U.S. pension plan does not have
the anticipated effects on the company's or the plan's financial condition,
black lung claims incidence, the number of dependents of mine workers for whom
benefits are provided, mandatory or voluntary pension plan contributions, the
nature of our hedging relationships, the strength of the U.S. dollar relative
to foreign currencies, foreign currency exchange rates, changes in estimates
and assumptions underlying our critical accounting policies, seasonality,
pricing and other competitive industry factors, and fuel prices. Additional
factors that could cause our results to differ materially from those described
in the forward-looking statements can be found under "Risk Factors" in Item 1A
of our Annual Report on Form 10-K for the period ended December 31, 2008 and
in our other public filings with the Securities and Exchange Commission.
Readers are urged to review and consider carefully the disclosures we make in
our filings with the Securities and Exchange Commission. The information
included in this release is representative only as of the date of this
release, and The Brink's Company undertakes no obligation to update any
information contained in this release.

THE BRINK'S COMPANY
and subsidiaries

Condensed Consolidated Statements of Income
(Unaudited)

Three Months Nine Months
Ended Ended
September 30, September 30,
(In millions, except per share amounts) 2009 2008 2009 2008

Revenues $801.8 813.4 2,286.2 2,404.0

Cost and expenses:
Cost of revenues 647.5 647.6 1,859.1 1,909.4
Selling, general and
administrative expenses 107.6 111.6 314.5 330.8
Total costs and expenses 755.1 759.2 2,173.6 2,240.2
Other operating income (expense) 14.2 (4.4) 16.7 (4.7)

Operating profit 60.9 49.8 129.3 159.1

Interest expense (2.8) (3.0) (8.3) (8.8)
Interest and other income 1.2 4.5 7.2 9.6
Income from continuing
operations before tax 59.3 51.3 128.2 159.9
Provision for income taxes 20.6 14.3 37.7 36.9

Income from continuing operations 38.7 37.0 90.5 123.0

Income from discontinued operations 1.0 18.5 6.1 53.7

Net income 39.7 55.5 96.6 176.7

Less net income attributable to
noncontrolling interests (5.3) (7.5) (18.9) (29.9)

Net income attributable to Brink's $34.4 48.0 77.7 146.8

Amounts attributable to Brink's:
Income from continuing operations $33.4 29.5 71.6 93.1
Income from discontinued operations 1.0 18.5 6.1 53.7

Net income attributable to Brink's $34.4 48.0 77.7 146.8

Earnings per share attributable to
Brink's common shareholders (a):
Basic:
Continuing operations $0.70 0.64 1.53 2.02
Discontinued operations 0.02 0.40 0.13 1.16
Net income 0.72 1.04 1.66 3.18

Diluted:
Continuing operations $0.70 0.64 1.52 2.00
Discontinued operations 0.02 0.39 0.13 1.15
Net income 0.72 1.03 1.65 3.14

(a) Earnings per share may not add due to rounding.

Weighted-average shares:
Basic 47.6 46.1 46.8 46.2
Diluted 47.9 46.5 47.0 46.7

THE BRINK'S COMPANY
and subsidiaries

Supplemental Financial Information
(Unaudited)

Segment Information

Three Months Ended Percentage
September 30, Change

Constant
-Currency Currency As Constant
(In millions) 2008 Change Change 2009 Reported -Currency
Revenues:
EMEA $356.9 (20.3) (12.2) 324.4 (9.1%) (5.7%)
Latin America 200.8 45.4 (11.3) 234.9 17.0% 22.6%
Asia Pacific 18.1 1.9 (0.1) 19.9 9.9% 10.5%
International 575.8 27.0 (23.6) 579.2 0.6% 4.7%
North America 237.6 (12.8) (2.2) 222.6 (6.3%) (5.4%)
Revenues $813.4 14.2 (25.8) 801.8 (1.4%) 1.7%

Operating profit:
International $56.3 11.0 (2.1) 65.2 15.8% 19.5%
North America 11.8 (1.3) (0.1) 10.4 (11.9%) (11.0%)
Segment operating
profit 68.1 9.7 (2.2) 75.6 11.0% 14.2%
Corporate expense (18.8) 8.7 - (10.1) (46.3%) (46.3%)
Former operations
income (expense) 0.5 (5.1) - (4.6) NM NM
Operating profit $49.8 13.3 (2.2) 60.9 22.3% 26.7%

Segment operating
margin:
International 9.8% 11.3%
North America 5.0% 4.7%
Segment operating
margin 8.4% 9.4%

Nine Months Ended Percentage
September 30, Change

Constant
-Currency Currency As Constant
(In millions) 2008 Change Change 2009 Reported -Currency
Revenues:
EMEA $1,040.8 (1.0) (116.4) 923.4 (11.3%) (0.1%)
Latin America 605.9 99.0 (60.9) 644.0 6.3% 16.3%
Asia Pacific 54.7 1.5 (2.8) 53.4 (2.4%) 2.7%
International 1,701.4 99.5 (180.1) 1,620.8 (4.7%) 5.8%
North America 702.6 (20.2) (17.0) 665.4 (5.3%) (2.9%)
Revenues $2,404.0 79.3 (197.1) 2,286.2 (4.9%) 3.3%

Operating profit:
International $166.6 (39.5) (7.1) 120.0 (28.0%) (23.7%)
North America 36.1 2.7 (0.9) 37.9 5.0% 7.5%
Segment operating
profit 202.7 (36.8) (8.0) 157.9 (22.1%) (18.2%)
Corporate expense (43.3) 26.4 - (16.9) (61.0%) (61.0%)
Former operations
income (expense) (0.3) (11.4) - (11.7) 200+ 200+
Operating profit 159.1 (21.8) (8.0) 129.3 (18.7%) (13.7%)

Segment operating
margin:
International 9.8% 7.4%
North America 5.1% 5.7%
Segment operating
margin 8.4% 6.9%

THE BRINK'S COMPANY
and subsidiaries

Supplemental Financial Information (continued)
(Unaudited)

ORGANIC REVENUE GROWTH

Three Months % change Nine Months % change
Ended from prior Ended from prior
(In millions) September 30, period September 30, period

2007 revenues $692.7 1,977.8
Effects on
revenue of:
Organic revenue
growth (a) 80.3 12% 242.6 12%
Acquisitions and
dispositions 1.7 - 15.8 1%
Changes in
currency exchange
rates 38.7 5% 167.8 9%
2008 revenues 813.4 17% 2,404.0 22%
Effects on
revenue of:
Organic revenue
growth (a) (13.0) (2%) 13.3 1%
Acquisitions and
dispositions 27.2 3% 66.0 3%
Changes in
currency exchange
rates (25.8) (3%) (197.1) (8%)

2009 revenues $801.8 (1%) 2,286.2 (5%)

(a) Organic revenue growth excluding the currency conversion project was
11% for the three months and 10% for the nine months of 2008. Organic
revenue growth excluding the currency conversion project was down 1% for
the three months and up 3% for the nine months of 2009.

THE BRINK'S COMPANY
and subsidiaries

Supplemental Financial Information (continued)
(Unaudited)

OTHER OPERATING INCOME (EXPENSE)

Three Months Nine Months
Ended Ended
September 30, September 30,
(In millions) 2009 2008 2009 2008

Gain on acquiring
control of an
equity method
affiliate (a) $13.9 - 14.9 -
Foreign currency
transaction losses (3.6) (8.3) (15.9) (13.8)
Gains on sales of
property and other
assets 0.1 0.4 8.3 0.4
Royalty income 2.1 0.8 6.4 1.4
Share in earnings
of equity
affiliates 1.1 1.3 3.3 3.6
Impairment losses (0.2) (0.2) (2.3) (0.5)
Other 0.8 1.6 2.0 4.2

Other operating
income (expense) $14.2 (4.4) 16.7 (4.7)

(a) Third-quarter gain relates to acquisition of controlling interest of
a CIT operation in India

CORPORATE EXPENSE

Three Months Nine Months
Ended Ended
September 30, September 30,
(In millions) 2009 2008 2009 2008

General and
administrative $11.6 14.4 26.2 34.3
Royalty income:
Brand licensing
fees from BHS (1.7) - (5.0) -
Other (0.4) (0.8) (1.4) (1.4)
Gain on sale of
real estate - - (2.7) -
Currency exchange
transaction
(gains) losses 0.6 5.2 (0.2) 5.6
Strategic reviews and
proxy matters - - - 4.8
Corporate expense $10.1 18.8 16.9 43.3

FORMER OPERATIONS (INCOME) EXPENSE

Three Months Nine Months
Ended Ended
September 30, September 30,
(In millions) 2009 2008 2009 2008

Retirement plans:
Primary U.S.
retirement
plans $3.0 (1.6) 13.5 (4.8)
Black lung and
other plans 0.9 0.7 1.1 2.6
Administrative,
legal and other 0.8 1.2 2.8 3.4
Gain on sale of
coal assets (0.1) (0.8) (5.7) (0.9)

Former operations
(income)
expense (a) $4.6 (0.5) 11.7 0.3

(a) Included in continuing operations

THE BRINK'S COMPANY
and subsidiaries

Supplemental Financial Information (continued)
(Unaudited)

EXPENSE (INCOME) RELATED TO PRIMARY U.S. RETIREMENT PLANS

Three Months Nine Months
Ended Ended
September 30, September 30,
(In millions) 2009 2008 % Change 2009 2008 % Change

Primary U.S.
pension plan $(2.5) (3.2) (21.9%) (3.3) (9.8) (66.3%)
UMWA plans 4.5 0.1 200+ 15.5 0.5 200+
Total (a) $2.0 (3.1) NM 12.2 (9.3) NM

Included in:
Segment operating
profit -
North America $(0.9) (1.2) (25.0%) (1.2) (3.7) (67.6%)
Corporate expense (0.1) (0.1) - (0.1) (0.3) (66.7%)
Former
operations
(income)
expense 3.0 (1.6) NM 13.5 (4.8) NM
Discontinued
operations - (0.2) (100%) - (0.5) (100%)
Total $2.0 (3.1) NM 12.2 (9.3) NM

(a) As reported in our 2008 annual report on Form 10-K, expense related
to our primary U.S. retirement plans increased in 2009 primarily as a
result of a decline during 2008 in the market value of investments held by
the plans.

INCOME FROM DISCONTINUED OPERATIONS

Three Months Nine Months
Ended Ended
September September
30, 30,
(In millions) 2009 2008 2009 2008
Brink's Home Security
Holdings, Inc. ("BHS"):
Income from operations
before tax (a) $ - 31.1 - 98.0
Expense associated
with the spin-off - (2.2) - (6.5)
Adjustments to
contingencies of
former operations:
Gain from FBLET
refunds (b) - - 19.7 -
BAX Global
indemnification (c) (0.7) - (13.2) -
Other 0.1 2.0 (0.1) 5.2
Income (loss) from
discontinued
operations before
income taxes (0.6) 30.9 6.4 96.7
Provision for
(benefit from)
income taxes (1.6) 12.4 0.3 43.0
Income from
discontinued
operations $1.0 18.5 6.1 53.7

(a) BHS, a previously wholly owned subsidiary, was spun off on October 31,
2008. Revenues of the operations were $135.4 million for the third
quarter of 2008 and $397.1 million for the first nine months of 2008.

(b) In late 2008, Congress passed the Energy Improvement and Extension Act
of 2009 which enabled taxpayers to file claims for Federal Black Lung
Excise Tax ("FBLET") refunds for periods prior to those open under the
statute of limitations previously applicable to us. We received FBLET
refunds in the second quarter of 2009.

(c) BAX Global, a former business unit of ours, is defending a claim
related to the apparent diversion by a third party of goods being
transported for a customer. We have contractually indemnified the
purchaser of BAX Global for this contingency. During the second quarter
of 2009, BAX Global advised us that it is probable that it will be deemed
liable for this claim.

THE BRINK'S COMPANY
and subsidiaries

Supplemental Financial Information (continued)
(Unaudited)

SELECTED CASH FLOW INFORMATION

Three Months Ended Nine Months Ended
September 30, September 30,
(In millions) 2009 2008 2009 2008

Depreciation and amortization:
International $23.9 23.7 69.7 69.2
North America 9.8 7.8 27.5 23.4
Depreciation and amortization $33.7 31.5 97.2 92.6

Capital expenditures:
International $24.4 29.9 65.6 81.7
North America 13.6 19.1 46.9 37.7
Capital expenditures $38.0 49.0 112.5 119.4

THE BRINK'S COMPANY
and subsidiaries

Supplemental Financial Information (continued)
(Unaudited)

NON-GAAP RECONCILIATIONS

Results Excluding Acquisition-related Gain in India

Three Months Nine Months
Ended Ended
September 30, September 30,

India India
(In Acquisition As As Acquisition As
millions, As reported -Related Adjusted reported -Related Adjusted
except per GAAP Gain(a) GAAP Gain(a)
share amounts)

International
Segment
Revenues $579.2 - 579.2 1,620.8 - 1,620.8
Operating profit 65.2 (13.9) 51.3 120.0 (13.9) 106.1
Operating margin 11.3% 8.9% 7.4% 6.5%

All Segments
Revenues 801.8 - 801.8 2,286.2 - 2,286.2
Segment operating
profit 75.6 (13.9) 61.7 157.9 (13.9) 144.0
Segment operating
margin 9.4% 7.7% 6.9% 6.3%

Operating profit 60.9 (13.9) 47.0 129.3 (13.9) 115.4
Operating
margin 7.6% 5.9% 5.7% 5.0%

Income from continuing
operations before tax 59.3 (13.9) 45.4 128.2 (13.9) 114.3

Attributable to Brink's
Income from continuing
operations 33.4 (13.9) 19.5 71.6 (13.9) 57.7
EPS 0.70 (0.29) 0.41 1.52 (0.29) 1.23

(a) During the third quarter of 2009, Brink's purchased a controlling
interest in an Indian company where it previously held a 40% interest. As
a result, a gain was recognized on the previously held interest in
accordance with business combination accounting rules.

Income and earnings per share amounts excluding the Indian acquisition-
related gain are financial measures that are not required by, or presented
in accordance with, U.S. Generally Accepted Accounting Principles
("GAAP"). They are presented here to exclude the effect of an Indian
acquisition-related gain from our results. We believe these measures are
more reflective of our operations, provide transparency to investors and
enable period-to-period comparability of financial performance. Income or
earnings per share amounts excluding the Indian acquisition-related gain
should not be considered as an alternative to income or earnings per share
amounts determined in accordance with GAAP. We have included in this
press release reconciliation information for income or earnings per share
amounts excluding the Indian acquisition-related gain, the non-GAAP
financial measures, to income or earnings per share amounts, as
applicable, which are the most directly comparable financial measures
calculated and reported in accordance with GAAP.

THE BRINK'S COMPANY
and subsidiaries

Supplemental Financial Information (continued)
(Unaudited)

Net Debt (Cash) reconciled to amounts reported under GAAP

September 30, December 31,
(In millions) 2009 2008

Short-term debt $7.6 7.2
Long-term debt 261.5 181.4
Debt 269.1 188.6
Less cash and cash equivalents (234.5) (250.9)
Net Debt (Cash) $34.6 (62.3)

Net Debt (Cash) is a supplemental financial measure that is not required by,
or presented in accordance with GAAP. We define Net Debt as Debt less cash
and cash equivalents. We use Net Debt (Cash) as a measure of our financial
leverage. We believe that investors also may find Net Debt (Cash) to be
helpful in evaluating our financial leverage. Net Debt (Cash) should not be
considered as an alternative to Debt determined in accordance with GAAP. Set
forth above is a reconciliation of Net Debt (Cash), a non-GAAP financial
measure, to Debt, which is the most directly comparable financial measure
calculated and reported in accordance with GAAP, as of September 30, 2009, and
December 31, 2008. This supplemental non-GAAP information should be reviewed
in conjunction with the consolidated balance sheets in our quarterly report on
Form 10-Q for the period ended September 30, 2009. Net Debt (Cash) as of
September 30, 2009, increased primarily as a result of a $92 million cash
contribution to our primary U.S. pension plan in August 2009.

Contact:
Investor Relations
804.289.9709

SOURCE The Brink's Company

Investor Relations, +1-804-289-9709