At 31 December 2008, the combined value of the assets in Carillion’s balance sheet that are the subject of the transaction was £76.7m. The total combined pre-tax profit attributable to these assets was £7.5m in 2008.

These disposals are in line with Carillion’s policy of recycling equity in its investments in Public Private Partnership projects and the proceeds will be used to reduce the Group’s net borrowing. Following the receipt of these proceeds the Group now expects to move to a net cash position by 31 December 2009.

The proportions of equity sold are as follows: 50% of Carillion’s 40% interest in the New Accommodation, Cheltenham, project and 65% of Carillion’s 50% interest in the Allenby Connaught project.