In 1996, with the privatisation of British Rail, the Ryde–Shanklin line became the Island Line franchise, which was won by the Stagecoach Group. Services continued to be branded as Island Line Trains. In 1999 three units (001, 003 and 005) were permanently withdrawn from service as surplus to requirements, leaving only six units remaining serviceable. In the early 2000s, the remaining units were overhauled and were repainted into a new livery of blue and yellow with pictures of dinosaurs. From 2007-2008, all units were repainted into their original London Transport red livery (albeit with yellow warning panels on the cab rather than the original red).