Announcement re Mowlem PLC

Balfour Beatty PLC 12 December 2005 12 December 2005 Balfour Beatty plc ('Balfour Beatty') - Announcement re: Mowlem plc ('Mowlem') Balfour Beatty confirms that it is considering making an offer for Mowlem. There is no certainty that an offer will be forthcoming. A further announcement will be made in due course. Enquiries to: Tim Sharp Tel: 020 7216 6884 Rule 2.10 Disclosure In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Balfour Beatty confirms that it has 427,074,946 ordinary shares of 50 pence each in issue. The International Securities Identification Number (ISIN) for the Company's ordinary shares is GB0000961622. Dealing Disclosure Requirements Please note that certain aspects of the rules on disclosure of the City Code on Takeovers and Mergers (the 'Code') have changed since 7 November 2005. The following represents a current summary of the position. Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of Balfour Beatty or of Mowlem, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of Balfour Beatty or Mowlem, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of Balfour Beatty or of Mowlem by Balfour Beatty or Mowlem, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk. 'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock Exchange
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