EPT Disclosure

ABN AMRO BANK N.V.
                  

FORM 38.5

DEALINGS BY CONNECTED EXEMPT PRINCIPAL TRADERS

(Rule 38.5 of the City Code on Takeovers and Mergers)

1. KEY INFORMATION


Name of exempt principal trader           ABN AMRO BANK N.V. London Branch
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Company dealt in                          Balfour Beatty Plc
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Class of relevant security to which the   ORD 50p
 dealings being disclosed relate (Note 1)
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Date of dealing                           29th December 2005
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2. DEALINGS (Note 2)

(a) Purchases and sales


Total number of securities         Highest price paid (Note 3)       Lowest price paid (Note 3)
 purchased
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Total number of securities sold    Highest price received (Note 3)   Lowest price received (Note 3)
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20,000                             3.5800 GBP                        3.5800 GBP
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(b) Derivatives transactions (other than options)


Product name,       Long/short (Note 4)    Number of securities (Note 5)   Price per unit (Note 3)
e.g. CFD
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(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying


Product name,      Writing,        Number of          Exercise  Type, e.g.   Expiry    Option money
e.g. call option    selling,        securities to     price      American,   date      paid/received
                    purchasing,     which the option             European               per unit (Note
                    varying etc.    relates (Note 5)             etc.                   3)
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(ii) Exercising


Product name, e.g. call option     Number of securities              Exercise price per unit (Note 3)
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3. OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives


Full details of any agreement, arrangement or understanding between the person disclosing and any other
 person relating to the voting rights of any relevant securities under any option referred to on this
 form or relating to the voting rights or future acquisition or disposal of any relevant securities to
 which any derivative referred to on this form is referenced.  If none, this should be stated.
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Date of disclosure                                          30th December 2005
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Contact name                                                Stephen Madigan
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Telephone number                                            020 7678 7683
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Name of offeree/offeror with which connected                Balfour Beatty Plc
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Nature of connection (Note 6)                               Broker
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Notes

The Notes on Form 38.5 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk