COST Costain Group Plc

RNS Number:1085W
Costain Group PLC
04 May 2007


Costain Group PLC
("Costain" or the "Group")


Financial Close on Three Shires PFI


Costain is pleased to announce that the Arden Partnership, its 50:50 joint
venture with Alfred McAlpine, has reached financial close on the #30m
Lincolnshire Project, the first of three phases of the #76.5m Three Shires PFI
Scheme. The deal was financed by NIBC Bank NV as Lead Arranger.

The project is for the design, build and operation of a 8,500sqm Community
Hospital and ancillary services over a four hectare site in Spalding,
Lincolnshire.  Costain will carry out the design and construction works and
Alfred McAlpine will provide facilities management services.

The remaining two projects in the batched scheme are in Leicester and Derby and
are due to reach financial close in the summer.


Andrew Wyllie, Chief Executive of Costain, said:


"We're delighted to have reached Financial Close on another significant PFI
scheme in the health sector.  This is further evidence of the strong
relationships we are developing with key NHS Trusts across the UK and we are
confident of similar success on the scheme's remaining two projects."





                                                                      4 May 2007

Enquiries:

Costain                                                   Tel: 01628 842 444
Andrew Wyllie, Chief Executive
Tony Bickerstaff, Finance Director
Graham Read, Public Relations

College Hill                                              Tel: 020 7457 2020
Mark Garraway
Matthew Gregorowski






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