24 April 2008

Following the withdrawal of Balfour Beatty's bid for Mowlem, Carillion's offer of UK£ 2,20 (€ 3,08) per share, which values Mowlem at UK£ 312 million (€ 437 million), is the only outstanding offer for the company.

Carillion has also reached an agreement with Balfour Beatty that, subject to the successfully acquisition, Balfour Beatty will buy two Mowlem businesses – US construction management company Charter, and UK rail track products manufacturer Edgar Allen – for UK£ 20,5 million (€ 30 million). Carillion has identified these as non-core businesses that would not fit its growth strategy.

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