CTP.L Regulatory News (CTP)

31 May 2007 07:01

Redstone PLC31 May 2007 Redstone plc ("Redstone" or the "Company") Redstone signs Contracts worth £3.4m Redstone wins £3.4 million contracts for IP solutions in both Leicester's Highcross Quarter and Bristol's Cabot Circus 31 May 2007 - Redstone plc, the national IT and Communications solutionsprovider, announces today that its Converged Solutions division has woncontracts to deploy complete converged IT and communications infrastructure atboth Leicester's new retail, residential, restaurant and leisure development,Highcross Quarter and Bristol's new Cabot Circus development. The contracts havean initial contract value of £1.6m and £1.8m respectively, totalling an initialvalue of £3.4m. In both cases the Company will be working as a sub-contractor to Sir RobertMcAlpine Ltd, who is the main contractor for the projects. The £350 millionHighcross Quarter development, a joint venture between Hammerson plc and HermesReal Estate Asset Management, will form a centrepiece in the city and propelLeicester into a top ten UK retail destination. The Cabot Circus development, analliance between Land Securities Group plc and Hammerson plc, will provide overone million square foot of high quality retail and leisure uses, as well asapartments, offices and public spaces in the heart of Bristol. Both contractsare to be completed prior to September 2008, when the developments are due toopen. Redstone will be delivering a single IP network throughout the entiredevelopment in both cases; the system will be based upon Cisco's technologyspecifically designed for real estate implementations. Martin Balaam, CEO, Redstone plc, commented, "We are delighted at the progressof our Converged Solutions business, further enhanced by the recent addition ofComunica to the division. With these latest contracts for two large-scaledevelopments, we will be looking to repeat our success in supplying a top-end IPsolution as we did with the Bullring Centre in Birmingham and Royal AscotRacecourse. "By supplying complete IP solutions, we are able to draw experience from thevarious divisions of Redstone and use this wealth of knowledge of supplyingcommunications technologies to ensure that we implement the best possiblesolution. Redstone is gaining a strong reputation for advising on, andimplementing the IP technology for large scale intelligent buildings projects.We will be looking for further success in this area and the Company is activelybidding on several other developments currently." - Ends. ENQUIRIES: Redstone plc Tel. +44 (0)845 200 2200Martin Balaam, Chief Executive OfficerTim Perks, Chief Financial Officer Investec Tel. +44 (0)20 7597 4000Chris GodsmarkJames SandfordBen Poynter ICIS Limited Tel. +44 (0)20 7651 8688Tom Moriarty or +44 (0)7769 937 626Paul Youens This information is provided by RNS The company news service from the London Stock Exchange