ISG.L Regulatory News (ISG)

8 May 2008 16:24

Interior Services Group PLC08 May 2008 Interior Services Group plc ('ISG') ISG awarded contract to build the Velodrome for London 2012 Games ISG is pleased to announce that it has been awarded the contract to build theVelodrome for the London 2012 Games. The 6,000 seat Velodrome, to be based in the north of the Olympic Park, willhost the Olympic and Paralympic indoor track cycling events alongside a BMXtrack for Olympic events. After the Games, the Velodrome and BMX track will bejoined by a road cycle circuit and mountain bike course to create a legacyVeloPark that will be unique in combining cycling facilities across alldisciplines in one cycling 'hub'. The Velodrome will be delivered within the overall VeloPark budget, confirmed bythe Olympic Delivery Authority last month as £80m, which includes the Velodrome,BMX track and their legacy conversion costs. ISG will now work with the VeloPark design consortium of Hopkins Architects withExpedition Engineering, BDSP and Grant Associates, who won the VeloPark designteam competition last summer. Hopkins Architects' designs for the legacyVeloPark are currently being finalised following consultation with cycling usergroups and British Cycling, and will be unveiled in the summer. ISG and Hopkinswill then continue developing the detailed designs ahead of constructionstarting on site in early 2009. David Higgins, ODA Chief Executive, said: "The VeloPark will be one of the biggest legacies of the Games, deliveringworld-class cycling facilities for elite athletes and the local community to usefor generations to come, all in a landmark new building for London. "Securing a world-class contractor to deliver the Velodrome is a huge boost forBritish cycling and a boost for British business." Sebastian Coe, Chairman of the London Organising Committee, said: "The recent success of British cyclists at the world championships and thegrowing popularity of cycling in the capital show the huge value in creating newfirst-class cycling facilities in London. The Velodrome will offer our cyclistsa world-class platform to hit gold in 2012 and leave a permanent cycling legacyin the capital, so securing a construction team for this landmark venue is animportant step forwards." Shaun Dawson, Chief Executive of Lee Valley Regional Park Authority which willown and operate the VeloPark in legacy, said: "We are delighted that this contract has now been awarded and that the excitingVelodrome designs will soon become a reality. When complete, the Velodrome, aspart of the bigger VeloPark complex, will be a world class, accessible sportingfacility for both the London 2012 Games and beyond." David Lawther, ISG Chief Executive, said: "This is a fantastic achievement for ISG and we are immensely proud to have beenappointed. The size and scope of the London 2012 Velodrome underlines thecompany's new build capabilities and the diversity of work we undertake." Steve Trotter, ISG Interior Exterior Managing Director, said: "To be working on such a high-profile project is hugely exciting, particularlyafter the recent success of the British Cycling Team! We couldn't have hopedfor a more exciting project to follow on from our work on the ManchesterVelodrome." 8 May 2008 Interior Services Group PLC David Lawther, Chief Executive 020 7392 5307Jonathan Houlton, Group Finance Director 020 7392 5393 College Hill Matthew Smallwood 020 7457 2020Adam Aljewicz Olympic Delivery AuthorityStuart Buss 020 32012 700 NumisMichael Meade 020 7260 1000 Notes to editors ISG was formed in 1989 and has built a solid reputation for delivering awardwinning new build, refurbishment and fit out projects, including the large scalerefurbishment of the 26 storey Shell Tower in London, the construction of theflagship arts complex at Goldsmiths College; and the refurbishment andremodelling of the Royal Festival Hall. ISG also has an impressive sporting pedigree as the construction contractor forthe new National Tennis Centre in Roehampton for the Lawn Tennis Association,and having been responsible for replacing the track at the Manchester Velodromewhich led to the British team securing nine gold medals, including new worldrecords, at the recent World Cycling Championships. This information is provided by RNS The company news service from the London Stock Exchange