Tuesday, January 27, 2004

Equion plc, a division of John Laing plc, today announces the signing of a £35 million redevelopment deal for Newham General Hospital in East London.

Under the terms of the deal, Equion, the award winning infrastructure developer and operator, will design and construct two major extensions for the hospital and provide facilities management services throughout the site.

The new buildings will provide modern premises for the Ambulatory Care and Diagnostics Unit, as well as new clinical facilities and a redesigned entrance building.

The Equion works will also include redevelopment of the car park, landscaping to the east of the site and the refurbishment of the kitchen and restaurant areas.

Laing O’Rourke, under contract to Equion plc, will begin construction next month with all work due to be completed by summer 2006.

Richard Weston, Managing Director of Equion commented: “This deal is a testament to Equion’s track record within the hospital PFI arena. We already work extensively across a range of projects in Newham borough and we look forward to continuing to regenerate Newham together with our public sector partners.”

Michael Smith, Chairman of Newham Healthcare NHS Trust said: “This contract will mean improved healthcare for all Newham residents - this is a very exciting day for everyone at the Trust.”

Notes to Editors

1. Equion plc
   Equion plc, a division of John Laing plc, is a specialist provider of facilities in the PFI (Private Finance Initiative) and PPP (Private Public Partnerships) markets with a long-term perspective and approach. Equion offers a combination of skills and experience, from planning and funding through to design, construction and operation.
   Equion is actively involved in the management of a wide range of police, education, health, defence and special purpose serviced accommodation projects including:
   • the new Norfolk & Norwich, and Queen Elizabeth (Greenwich) Hospitals
   • a radical restructuring of primary health care facilities in Manchester, Salford and Trafford
   • 17 new PFI police stations & facilities for the Greater Manchester Police Authority
   • South East London Police Stations for the Metropolitan Police
   • the Metropolitan Police Specialist Training Centre for the Metropolitan Police
   • the Ministry of Defence Main Building refurbishment in Whitehall
   • the Joint Services Command and Staff College at Shrivenham
   • Highlands Secondary School in Enfield
   • South East Essex College at Southend

The company is one of the most successful participants in the Government's Private Finance Initiative and has a proven record of delivering new investments on time and on cost. Equion won the Infrastructure Journal PPP Developer of the Year Award in February 2003 for the second year running. http://www.equion.plc.uk/

2. John Laing plc, a publicly quoted company, holds a large and expanding portfolio of investments spanning transport (including 100% ownership of Chiltern Railways), health, education and special purpose government facilities. The majority of the investments are within the UK though a number are in continental Europe. http://www.laing.com/