Financial Close on Contract

RNS Number:6020F
Costain Group PLC
12 October 2007


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


Financial Close on Final Phase of 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 Derby Project,
the final project of three phased Financial Closes to be achieved in the #76.5m
Three Shires Batched PFI Scheme.  The deal was financed by NIBC Bank NV as Lead
Arranger.


The scheme, for the Derbyshire Mental Health Services NHS Trust is a #36.4m
project for the design, build and operation of an Adult High Dependency Unit, an
Older Persons HDU, an Older Adult Dementia HDU, an Older Adult Resource Centre
and a Clinical Services Building, with a total area of 11,155m2, to be provided
on two sites within the Derby area.  Design and construction work will be
carried out by Costain, and Alfred McAlpine will provide the hard FM services.


Phases one and two of the batched PFI project, the #30m Lincolnshire Community
Hospital Project, and the #10.5m Leicester Learning Disabilities Unit reached
Financial Close earlier in the summer and are now both under construction. The
batched PFI process was designed to allow smaller schemes to be developed under
the Governments' Private Finance Initiative so that they could share in the
savings made from a jointly procured approach.


Andrew Wyllie, Chief Executive of Costain, said:


"We are delighted that the final phase of this unique batched PFI project has
reached financial close and that all three projects are now in construction.
This is another important step in our desire to be Number One in the delivery of
Health Services in the UK."


12 October 2007



ENQUIRIES:

Costain Group PLC                                               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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