Inspirit Energy Regulatory News (INSP)

17 Aug 2007 07:01

Inspace Plc17 August 2007 Press Release 17 August 2007 Inspace plc ("Inspace" or the "Company") AIM Rule 26 compliance Inspace is pleased to announce that in accordance with AIM Rule 26, asstipulated by the London Stock Exchange, the Company has provided all necessaryinformation required under the rule in the investor section of its corporatewebsite (www.inspace.co.uk). To view this information please use the following link: (http://www.inspace.co.uk/investors/overview/). - Ends - For further information:Inspace plcAndrew Telfer, Chief Financial Officer Tel: +44 (0) 1462 678 910andrew.telfer@inspace.co.uk www.inspace.co.uk Dresdner KleinwortChristian Littlewood Tel: +44 (0) 20 7623 8000 Media enquiries:AbchurchHenry Harrison-Topham Tel: +44 (0) 20 7398 7702henry.ht@abchurch-group.com www.abchurch-group.com Notes to editors Inspace plc is a property based services group, and one of the UK's leadingspecialist service providers to the social and affordable housing market.Inspace has three complementary areas of activity: social housing, affordablehousing and corporate assets. Social Housing - creating and maintaining sustainable homes The division is one of the UK's leading specialist service providers to socialhousing landlords through long term framework contracts. Its services comprisemajor 'repair and maintenance', 'stock reinvestment' and new build programmesfor local authorities, Arms Length Management Organisations (ALMO) andRegistered Social Landlords (RSLs). Total spending on social housing is currently around £14 billion per annum, ofwhich around £10.3 billion is spent on repair, maintenance and improvement. Ofthis, £4 billion is spent on ongoing repair and maintenance, with the remaining£6 billion being spent on capital projects such as major refurbishment andimprovement. This includes a contribution of between £1 billion and £2 billion ayear from the Decent Homes initiative. The provision of new housing, which iscurrently running at around 35,000 units a year, adds a further £3.5 billion tothis sum. Affordable Housing - developing integrated communities The affordable housing division specialises in the provision of low cost homesfor sale in partnership with RSLs, usually alongside social housing built by theSocial Housing division, as part of more extensive mixed tenure schemes. It hasalready established a number of joint venture companies with RSLs and throughits involvement in the Key London Alliance consortium, has been appointed toprovide mixed tenure developments under the Government's London Wide Initiative. Corporate Assets - improving and maintaining public and private real estate The corporate assets division provides a comprehensive repair, maintenance,capital works and interior design service across public and private sectornon-residential real estate. It delivers 24/7 integrated maintenance servicesacross England, Scotland and Wales through its national network of branches and'home based' mobile engineers. Its specialist design-led service offerscustomers an integrated interior design, installation and furnishing 'one stop'solution. Further information on Inspace can be found at www.inspace.co.uk This information is provided by RNS The company news service from the London Stock Exchange