10 Apr 2002

Services group Interserve Plc is pleased to announce that it has reached financial close on the Health & Safety Laboratories privately financed project.

In addition to taking an equity stake, Interserve will deliver the full range of facilities management services. These services will provide Interserve with some £75 million of future turnover.

The project consists of providing new, purpose built, Health & Safety laboratories in Buxton that will replace a number of existing facilities in Sheffield and Buxton. The new facility will be used to conduct experimental work, such as the investigation of fires and explosives. Work is due to start in Summer 2002 and FM services at the existing sites will transfer in October 2002.

Interserve Chairman, Mike Bottjer, commented:

'We are most pleased to have been chosen by The Health & Safety Laboratory and look forward to working with them on this significant project. This project further illustrates Interserve's ability to add value for its customers through the provision of integrated support services and will be an important addition to our substantial and fast growing portfolio of PFI projects.'