Re Contract

    16th April 2003

                   INTERSERVE WINS CONTRACTS WORTH £40m WITH                   

                         THAMES WATER AND NETWORK RAIL                         

Interserve has won two contracts worth a total of £40 million. Thames Water has
awarded Interserve Project Services the contract for the Little Marlow Sewage
Treatment Works Upgrade, and Interservefm will manage Network Rail's corporate
buildings over a three-year period with the option of a further two-year
extension. Each contract is worth £20 million.

Work on the Little Marlow contract will begin immediately and is expected to be
complete early in 2005. The new plant will improve the quality of water
discharged into the River Thames, replacing the existing works and also
treating the flow from High Wycombe.

Services to be provided under the Network Rail contract, effective from April
2003, include building services maintenance, cleaning, security, reception,
catering management, project management and a facilities helpdesk providing a
central point of contact for Network Rail staff 24 hours a day, 365 days of the
year. Interservefm has been providing facilities management services to Network
Rail since 1998.

For further information please contact:

Giles Scott 0118 960 2307 [e-mail]

(head of corporate communications)



END