Acquisition

Carillion PLC
27 September 2001

Carillion becomes sole owner of leading UK rail maintenance company, GT Rail
Maintenance

Leading construction to services company Carillion plc announced today it has
purchased Alstom's interest in GT Rail Maintenance Holdings Ltd (GTRM).

Carillion paid a cash consideration of £34 million to Alstom for the 51 per
cent interest in GTRM it does not already own. Also, GTRM will repay to Alstom
£9.5 million of loan stock. The consideration will be funded from borrowing
facilities.

As at 31 March 2000, GTRM had negligible net assets and its trading subsidiary
had net assets of £6.1 million. Profit before tax and exceptional items for
the year ended 31 March 2000, of its trading subsidiary, was £10.2 million.

Commenting on the purchase, Carillion Chief Executive, John McDonough, said,
'We are delighted to have purchased Alstom's interest in GTRM. Rail
maintenance and enhancement form a major part of our Infrastructure Management
activities and the expansion of this area of our business is an important part
of our strategy.

'In an industry where safety and quality are paramount, GTRM has regularly
topped Railtrack's Key Performance Indicators in both 2000 and 2001 and
recently received the award for best maintenance contractor at the 2001
National Rail awards.

'With the rail market growing and with increasing opportunities to offer
higher added value services, we believe that by working in alliance with
Railtrack, GTRM will make a significant contribution to our future growth.'

Managing Director of GTRM, Paul Kirk, said, 'GTRM has enjoyed considerable
success under the joint ownership of Carillion and Alstom. We are now looking
forward to being part of the Carillion Group where we can continue to develop
the quality and scope of our service offer, both for maintenance and for
enhancement projects, combining GTRM and Carillion's rail, civil and project
management skills, from design through to implementation.'

Notes to editors

Carillion is one of the UK's leading construction to services businesses with
an annual turnover of some £1.9 billion and around 12,500 employees worldwide.
Its major growth sectors are Private Finance, Services and Infrastructure
Management - which includes all road and rail maintenance and renewal
activities.

GTRM was created in April 1996 when it was purchased from the British Railways
Board. With an annual turnover in excess of £250 million, GTRM is responsible
for the maintenance and repair of around 21 per cent of the UK mainline
railway network and employs almost 3,500 people throughout the United Kingdom.
GTRM is also extensively involved in major railway enhancement projects,
notably for West Coast Mainline Route Modernisation.

For further information

John Denning 01902 316426

John Davies 01902 316444