Interserve Regulatory News (IRV)

27 Mar 2008 07:00

News Release27th March 2008 INTERSERVE CONSORTIUM WINS ‚£225 MILLION TUNBRIDGE WELLS HOSPITAL SCHEME

Interserve, in consortium with John Laing plc and the Commonwealth Bank of Australia, has reached financial close on the ‚£225 million Pembury Hospital scheme in Tunbridge Wells, Kent. The new 512-bed Pembury Hospital will be the first NHS acute facility with 100 per cent single, en-suite rooms.

Interserve will invest ‚£5.2 million of equity and subordinated debt in the project and will deliver facilities management (FM) services worth ‚£75 million in the new buildings over a period of 30 years. This will include mechanical and electrical maintenance, estates management, grounds maintenance, utilities management and the provision and operation of a helpdesk. The building design maximises the location within the local environment, and woodland management will be a particularly important element of Interserve's services.

The new hospital, which will be seven storeys high with a floor area of 65,000 sq metres, includes planned and emergency surgery, orthopaedics, a women's and children's zone, day-case theatres, outpatient services and a mental health unit. Construction will begin in April.

Adrian Ringrose, Chief Executive of Interserve Plc, said: "The facilities our consortium will create in Pembury Hospital go further than anything seen in the NHS before. Patients will benefit not only from having 100 per cent single rooms but also from the views of the surrounding woodland which have been captured in the hospital's design. This win represents the fifth in our healthcare PFI portfolio in which our total investment commitment is now ‚£25.5 million."

For further information please contact:

Giles Scott 0118 960 2307

Head of Corporate Communications

Elizabeth Morley/Tom Siveyer 020 7379 5151MaitlandAbout Interserve

Interserve Plc (www.interserve.com) is a services, maintenance and building group. It creates buildings and other structures for clients in the public and private sectors, maintains many different types of buildings, the operational systems that support them and a range of plant and equipment in specialist fields, and co-ordinates a host of background services to keep its clients' operations running smoothly and efficiently while they concentrate on their core business. Interserve is based in the UK and is a FTSE 250 company. It employs 26,000 people worldwide and has revenue of ‚£1.7 billion.