Lsl Prop Regulatory News (LSL)

10 Jul 2007 07:01

LSL Property Services10 July 2007 For Immediate Release 10 July 2007 LSL Property Services plc ("LSL" or "the Group") 2nd Major Surveying Contract Win Following on closely from the recent Cheltenham & Gloucester contract win forits surveying division, LSL announces that e.surv its UK market leadingresidential surveying operation has won a major contract to supply exclusivepanel residential survey management services to Barclays Bank plc. Barclays Bank plc, through its mortgage brand The Woolwich, is a leading UKmortgage provider. The contract will include the transfer of the existingvaluations infrastructure of Barclays Bank plc including people, premises andtechnology. The initial contract period is for three years. The integration of the operation into the existing e.surv business means thatfor the remainder of 2007 the contract is expected to be broadly earningsneutral. However the contract win is expected to enhance earnings in 2008 andprovides an excellent opportunity to further leverage the surveying assetsacross the Group. For further information please contact: LSL Property Services plcSimon Embley CEODean Fielding Group Finance Director 01904 715324Buchanan CommunicationsRichard Darby, Nicola Cronk, Catherine Breen 020 7466 5000 Notes to editors LSL Property Services plc is one of the leading residential property servicescompanies in the UK and provides a broad range of services to its customers whoare principally mortgage lenders, as well as buyers and sellers of residentialproperties. LSL's main operations are its surveying business, which operatesunder the e.surv and Chancellors Associates brands, its estate agency business,which operates under the Your Move and Reeds Rains brands, and its financialservices business. For further information, please visit LSL's website: www.lslps.co.uk This information is provided by RNS The company news service from the London Stock Exchange