CTP.L Regulatory News (CTP)

18 Dec 2006 07:01

Redstone PLC18 December 2006 Redstone plc ("Redstone" or "the Group") Redstone Closes Contract for phase 1 of Lancashire's £16m Schools ICT Project 18 December 2006 - Redstone, the national IT and Communications solutionsprovider, today announced that it had successfully concluded contractnegotiations for the design, implementation and managed IT services for theLancashire Schools for the Future project. The project will see the building ofnine new secondary and primary schools over a three year period starting January2008. Working in a consortium with Catalyst Land Lease, Capita Symonds Group andfinanciers, Halifax Bank of Scotland, Redstone's Converged Solutions Divisionand Managed Solutions Division will be providing the complete integrated IT andcommunication systems for new schools to be built in Lancashire, along with aseven year managed IT services contract which will commence in September 2008. The project, which is part of the first wave of the Government's BuildingSchools for the Future programme, will be completed in three phases between 2008and 2010 with three schools delivered in each of 2008, 2009 and 2010. Thecombined ICT project is worth in the order of £16m. Redstone's phase 1 contractfor the first three schools is worth £6.3m and, as the exclusive provider of ICTequipment and management services for the entire project, expects to contractfor phases 2 and 3 in due course. Martin Balaam, CEO Redstone commented, "This contract demonstrates the value ofthe combined skills of Redstone Converged Solutions and Redstone ManagedSolutions and further cements Redstone as one of the leading IT andCommunications integrators in the UK and Ireland. It is also satisfying to seethat the investment the Company has made in tendering for major long termprojects is paying dividends and underpinning future revenues." Ends. ENQUIRIES:Redstone plc Tel. +44 (0)845 200 2200Martin Balaam, Chief Executive OfficerTim Perks, Chief Financial Officer ICIS Limited Tel. +44 (0)20 7651 8688Tom Moriarty or +44 (0)7769 937 626Paul Youens Notes to Editors 1. Building Schools for the Future (BSF) is the largest single schools capitalinvestment programme for over 50 years. The aim is to rebuild or renew every oneof England's 3,500 state secondary schools during the 15-year lifetime of the£40 billion programme. This information is provided by RNS The company news service from the London Stock Exchange