Re Contract

Carillion PLC
21 December 2004




21 December 2004

Carillion wins £50m PFI Marylebone station contract

Support services and construction company Carillion has reached financial close
for a £50m PFI project to upgrade Marylebone and Beaconsfield stations for
Chiltern Railways - an increasingly important commuter route into London.

Carillion has been awarded the two-year Design, Build, Finance and Transfer
(DBFT) contract by Laing Rail. The project is the first of its kind in the rail
industry and has been developed in conjunction with Network Rail and the
Strategic Rail Authority and in consultation with the Office of Rail Regulation.
It is the first time that a Special Purpose Vehicle (SPV) has been used
successfully for major track and signalling works.

The project will deliver improvements in the frequency and speed of passenger
services from the Midlands to Marylebone station. It includes the provision of
two additional platforms at Marylebone, permanent way alterations, drainage,
lighting and signalling works. Beaconsfield station will benefit from an
increase in line speed to 75 mph created by permanent way realignment and
signalling enhancements.

The part of the Chiltern line affected runs along a 50-mile stretch between
London Marylebone and Bicester North and is viewed as a key artery for commuter
and leisure travel into London from the Midlands and the Home Counties. The
first line runs to Aylesbury and the second runs to Aynho junction where the
Chiltern line joins the Banbury to Oxford line.

Commenting on the selection, Carillion Transport's managing director, Paul Kirk
said, 'We are delighted to have reached financial close for this ground-breaking
contract. This underlines Carillion's position as a leading provider of rail
infrastructure services. We very much look forward to working with Chiltern
Railways to deliver the infrastructure improvements which will result in a
faster and better train service for passengers using this route.'

Work is due to start in January 2005.

For further information, please contact

John Denning, Director Group Corporate Affairs 01902 316384
Paula Manning, Corporate Communications 01902 316444



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