Interserve Regulatory News (IRV)

14 May 2008 07:04

‚£140m DUBAI CONTRACT FOR INTERSERVE ASSOCIATE

Interserve's Dubai associate company, Khansaheb Civil Engineering, has won a contract worth 1 billion UAE dirhams (approximately ‚£140 million) to develop the infrastructure for the first phase of Al Furjan, a family-oriented residential community in Dubai. Interserve's share of the revenue will be ‚£65 million. The contract has been awarded by Nakheel, one of the world's largest property developers and master developer of Al Furjan.

Al Furjan, meaning "a collection of houses or a small village", will ultimately include more than 4,000 homes in four communities. Phase One will create over 2,000 villas and terrace homes, a range of commercial and residential apartments and mixed-use plots with supportive retail centres. Khansaheb will build the infrastructure to support the communities including roads, power, water, sewerage and lighting.

Each of the four communities will be defined by its individual neighbourhood centre. These centres, along with other amenities such as schools, will be situated within easy walking distance of homes. The development is designed for the family with open spaces integrated into the master plan to provide areas for children to play and families to interact.

Adrian Ringrose, Chief Executive of Interserve, said, "This is a significant contract for us and demonstrates the continued vibrancy of the construction market in the region. We are proud to be working with a developer of Nakheel's stature on such an exciting project."

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.

About Khansaheb Civil Engineering

Khasaheb Civil Engineering is a Dubai-based construction and civil engineering business. It is jointly owned by Interserve and its investment partner, Khansaheb Investments, Interserve's share being 45 per cent. Khansaheb's 2007 revenue was approximately ‚£150 million.

About Nakheel

Nakheel is one of the world's largest privately-held property developers, with projects conservatively estimated to be worth US$80 billion. It is developing an iconic portfolio of innovative landmark projects in Dubai and in other key markets around the globe.

Nakheel's Dubai portfolio currently includes The Palm Jumeirah, The Palm Jebel Ali, The Palm Deira, The World, Waterfront, The Universe, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Ibn Battuta Mall, Al Furjan, International City and Dragon Mart.