CSG.L Regulatory News (CSG)

12 July 2013

Sweett Group plc

("Sweett Group" or "the Group")

Sweett Group announces financial close on the Leeds Social Housing project

Further to its announcement of 9 July 2013, Sweett Group, the international property and infrastructure consultancy, announces that the Leeds Social Housing project ("the Project") has reached financial close.

As a consequence, the costs held against this Project of approximately £800,000 will be recovered in full shortly.

In line with its three year strategy, the Group also announces that it has sold down its 25% equity entitlement in the Project to Equitix Limited. As a result, the Group will have no ongoing funding liability to the Project.

The Group will receive aggregate proceeds of approximately £1.6m in cash, which will be used to satisfy sums due to the vendors of Widnell Limited and to reduce Group debt.

Dean Webster, Chief Executive Officer of Sweett Group, said:

"We are very pleased that the Leeds Social Housing project has reached financial close, thereby securing recovery of the costs held against it in the Group's financial statements in each of the last three years. The decision to sell down our ongoing interest in the Project is consistent with the Group's three year strategy to limit our future exposure to PFI/PPP investment, whilst still operating as an adviser in this specialist field."

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For further information:

Sweett GroupDean Webster, Chief Executive Officer +44 20 7061 9000Chris Goscomb, Chief Financial Officer +44 20 7061 9000

Westhouse Securities

Tom Griffiths, Paul Gillam +44 20 7601 6100

FTI ConsultingBilly Clegg, Oliver Winters, +44 20 7831 3113

About Sweett Group

Sweett Group plc is a global business with expertise in property and infrastructure professional services. Our services include programme and project management, cost management, advisory and PPP related consultancy.

We aim to forge long term, successful relationships with all stakeholders in the property and infrastructure industry. "Global knowhow, local delivery" is the essence of our business and our reach enables us to put global best practice to use in the local markets we serve.

www.sweettgroup.com