ExcellCare reaches financial close on Ł11.5 million Healthcare Estate Improvement Programme in Manchester region

Wednesday, January 18, 2006

ExcellCare, the joint venture between Equion, a division of John Laing plc and Bank of Scotland, has today announced financial close on a new Ł11.5 million phase of the ongoing LIFT project to reform primary health care services in the Manchester, Salford and Trafford region.

The Manchester, Salford and Trafford (MaST) Local Improvement Finance Trust (LIFT) project exists to improve the primary care estate and access to health and social services in the area. This latest phase (known as MaST 1B-2) will see a further two new healthcare facilities constructed. This is in addition to the seven primary healthcare centres already being built. Upon completion, Equion FM will provide facilities management services.

The two healthcare facilities for the North Manchester Primary Care Trust, in Ancoats and Cheetham will commence construction early in 2006 (after site clearance and preparation works) and will be complete by late 2007. They will provide a wide range of primary health facilities for local communities; including dental care, mental health care, therapy and counselling, in addition to improved GP surgeries.

Construction will be carried out by Laing O’Rourke.

John Cassidy, Chief Executive of ExcellCare, commented on the latest MaST deal, said; ‘This is an important continuation of the development for the MaST scheme and for communities that it is helping to transform. These additional two healthcare centres will, I am sure, become real assets to local residents, and we look forward to welcoming the people of Ancoats and Cheetham to their new LIFT centres.’

Ends

For further information contact:

Madano Partnership

Anne Sampson/Matthew Moth 020 7593 4000

John Laing plc

Christine Jones 020 7901 3200

Notes to editors:

Laing O’Rourke will lead construction. Lead architects for the facilities are Stephenson Bell.

The financial advisers to ExcellCare are PricewaterhouseCoopers and the legal advisers are Denton Wilde Sapte.

Equion is a specialist provider of facilities in the PFI and PPP markets with a long-term perspective and approach.

The company manages and delivers projects from planning and funding through to design, construction and operation. It is actively involved in the management of a wide range of health, police, education, defence and special purpose government facilities

Bank of Scotland’s Corporate Infrastructure Finance team is a leading funder of Public Private Partnership projects.

It has funded more than 100 PPP projects and has provided equity investment as part of an integrated funding package to more than 40 projects, equating to Ł10 billion of project value across the UK and Europe. It has participated in the funding of more than 8,000 acute hospital bed spaces across the UK and is a major investor in the improvement of Britain’s hospitals and health centres, with several more projects currently at preferred bidder stage.

The financial advisers to the public sector are Robson Rhodes and the legal advisers are Addleshaw Goddard.