The British Rail Class 482 electrical multiple units were built by Metro-Cammell in 1992, for use on the Waterloo & City Line. The units are almost identical to the 1992 tube stock built for the Central Line.

Ten 2-car units were built, numbered 482501-510. Each unit consisted of a driving motor, numbered 65501-510, and a non-driving motor, numbered 67501-510. Trains were operated using two units semi-permanently coupled, with the driving motors outermost.

The units were built as direct replacements for the elderly Class 487 units, dating from 1940. They were in delivered to traffic in 1992/93, and were painted in Network SouthEast livery. On 1st April 1994, operational control of the Waterloo & City Line transferred to London Underground. Since then, unit numbers and NSE logos have been removed, but otherwise the trains remain in as-built condition.