A92 Road Contract

Morgan Sindall PLC
01 October 2003


                               MORGAN SINDALL PLC

                   Morgan Est awarded £53 million A92 Road Contract


Morgan Sindall Plc today announces that its Infrastructure Company, Morgan Est
plc, in joint venture with the Barclays European Infrastructure Fund, has signed
a PFI Concession Agreement with Angus Council to design, build, finance and
operate the dualling of the A92 between Dundee and Arbroath on the east coast of
Scotland.


Morgan Est will carry out the construction work on the project under a £53.4m
sub-contract agreement with the joint venture special purpose company, Claymore
Roads Limited.  The special purpose company will fund the 33 month construction
project which is anticipated to be completed in the Summer of 2006.  It will
then have a 30 year concession period during which it will operate and maintain
the new road and be paid a unitary charge by the Council for the delivery of the
road service.


John Morgan, Executive Chairman of Morgan Sindall Plc said:


'Morgan Est have worked very closely with Angus Council in order to develop a
solution that is both affordable and meets all the objectives.


For Morgan Est it is a continuation of the extension of its long-term order book
and a reward for the relationships that it has built with authorities across the
UK.'


1 October 2003

ENQUIRIES:


Morgan Sindall plc

John Morgan, Executive Chairman                        Tel: [phone]

Paul Smith, Chief Executive

College Hill                                           Tel: [phone]

Matthew Smallwood/Kate Pope


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