Contract Wins

Mears Group PLC 14 January 2008 Mears Group PLC ('Mears' or 'the Company') New contract wins in Care Division. Mears Group is pleased to report significant new contract wins by its Care Division, Careforce, which has been particularly successful in securing future revenues in two areas where existing contracts, having come to the end of their natural term, were being retendered. In both cases, Careforce has been successful in winning higher volumes of the outsourced work at similar or increased billing rates. In Rotherham, Careforce has won the maximum possible allocation of three blocks and in Hertfordshire it has won contracts which will lead to significantly increased volumes and will run to at least 2015 with possible extensions to 2018. The anticipated aggregate forward sales value of the new contracts in Rotherham and Hertfordshire is in the region of £34 million during the basic contract terms or around £52 million if the options to extend the contracts are taken up. Since Mears acquired Careforce Group plc in April 2007 the Company has completed on 8 businesses for an aggregate initial purchase consideration of £10.3 million. The Company believes that this series of acquisitions will continue to provide the necessary scale for Mears to influence the way in which domiciliary care is procured and delivered. Mears Group Chairman, Bob Holt, commented: 'I am delighted to be able to report these significant gains so soon after our acquisition of Careforce last year. I believe that they confirm that our Best Value approach and our commitment to Partnership Working resonate well with the expectations and responsibilities of our Local Authority partners. I believe they also provide further evidence of the consolidation taking place in the domiciliary care market which is leading to the placing of outsourced services by local authorities with a smaller number of larger providers such as ourselves.' ENDS NOTES TO EDITORS: Mears Group PLC is a leading provider of a range of services to social landlords. The Group is also a major supplier of domiciliary care in the United Kingdom following the acquisition of Careforce Group plc in April 2007. The social housing services provided include response maintenance, void refurbishment, planned preventative maintenance, improvements to meet the 'Decent Homes Standard' and estate management. Profits have shown an annual compound growth rate of 40% since Mears was listed on AIM in October 1996. The Group was awarded the AIM Company of the year award in 2003. Enquiries: Mears Group PLC Bob Holt, Chief Executive 07778 798 816 Mike Rogers, Executive Director 07768 685 283 Andrew Smith, Executive Director 07712 866 461 Threadneedle Communications Trevor Bass/Alex White 020 7936 9666 Nominated adviser to Mears Group PLC - Investec Keith Anderson/Michael Ansell 020 7597 5970 This information is provided by RNS The company news service from the London Stock Exchange

Companies

Mears Group (MER)
UK 100

Latest directors dealings