Interserve Regulatory News (IRV)

26 Oct 2006 07:00

26 October 2006 INTERSERVE CONSORTIUM PREFERRED BIDDER FOR CORSHAM DEFENCE PFI Inteq, a consortium of Interserve, the services, maintenance and buildinggroup, and John Laing, has been named preferred bidder on the MoD's Corsham PFIproject. Interserve will provide facilities management services worth ‚£180 million over the 25-year operational period.The MoD, through the Defence Communication Services Agency, aims to establish acommunication centre of excellence at Corsham in Wiltshire. All essential MoDpersonnel and business partners will co-locate on a single site.The consortium will be responsible for working with Defence Estates to createand manage a working and living environment capable of supporting an estimated2,000 users of the site. Interserve will be involved alongside Laing O'Rourkeduring the construction of the new flagship offices and single livingaccommodation, and will then provide a range of facilities management servicesthroughout the operational phase.It is anticipated that the contract will reach financial close in late 2007,with construction completing in 2010. Interserve and John Laing will each havea 50 per cent equity/sub-debt stake in the project."This is excellent news," remarked Adrian Ringrose, Interserve's ChiefExecutive. "It is another substantial defence project, demonstrating thestrength of our working relationship with the MoD and our ability to understandand meet their particular needs."For further information please contact:Giles Scott 0118 960 2307 Head of Corporate Communications Neil Bennett / Elizabeth Morley 020 7379 5151 Maitland About InterserveInterserve Plc (www.interserve.com) is a services, maintenance and buildinggroup. It creates buildings and other structures for clients in the public andprivate sectors, maintains many different types of buildings, the operationalsystems that support them and a range of plant and equipment in specialistfields, and co-ordinates a host of background services to keep its clients'operations running smoothly and efficiently while they concentrate on theircore business. Interserve is based in the UK and is listed on the London StockExchange. It employs 26,000 people worldwide and has revenue of ‚£1.5 billion.ENDINTERSERVE PLC