Offer Update

RNS Number:2395L
Ferrovial Servicios S.A.
19 May 2003

OFFER FOR AMEY PLC

Not for release, publication or distribution in or into the United States,
Canada, Australia or Japan.



FOR IMMEDIATE RELEASE

19 May 2003


                           Recommended Cash Offer by


               Ferrovial Servicios, S.A. ("Ferrovial Servicios")


                          a wholly owned subsidiary of



                      Grupo Ferrovial, S.A. ("Ferrovial")



                                      for



                               Amey plc ("Amey")



                                  Offer Update



The board of Ferrovial Servicios announces that by 3.00 p.m. on 16 May 2003,
being the first closing date of the Offer, valid acceptances of the Offer had
been received in respect of a total of 196,108,509 Amey Shares, representing
approximately 77.3 per cent. of the existing issued ordinary share capital of
Amey.



On 16 April 2003, Ferrovial Servicios announced that it had received irrevocable
undertakings to accept the Offer in respect of 82,330,551 Amey Shares,
representing approximately 32.6 per cent. of the existing issued ordinary share
capital of Amey.  Valid acceptances have been received in respect of 82,325,551
of the shares subject to these undertakings and are included in the total for
valid acceptances.



Accordingly, Ferrovial Servicios has received valid acceptances or has
outstanding irrevocable commitments to accept the Offer in respect of a total of
196,113,509 Amey Shares, representing approximately 77.3 per cent. of the
existing issued ordinary share capital of Amey.



Ferrovial Servicios announces that the Offer has been extended for a period of 7
days and will therefore remain open for acceptance until 3.00 p.m. on 23 May
2003.

Amey Shareholders should be advised that if the acceptance condition of the
Offer is not satisfied by 3.00 p.m. on 23 May 2003, Ferrovial Servicios may not
extend the Offer beyond 23 May 2003, in which case the Offer would lapse.
However, Ferrovial Servicios reserves the right to extend the Offer, should it
wish to do so.

Neither Ferrovial Servicios nor any person acting, or deemed to be acting, in
concert with Ferrovial Servicios for the purpose of the Offer owned or
controlled any Amey Shares or any rights over such Amey Shares prior to the
commencement of the Offer Period.  Save as referred to above, neither Ferrovial
Servicios nor any person acting, or deemed to be acting, in concert with
Ferrovial Servicios for the purposes of the Offer has acquired or agreed to
acquire any Amey Shares or any rights over such Amey Shares during the Offer
Period.



Amey Shareholders who have not yet accepted the Offer and who wish to do so are
strongly encouraged to complete and return the Form of Acceptance (whether or
not their Amey Shares are held in CREST) as soon as possible and, in any event,
so as to be received by post or (during normal business hours) by hand by Capita
IRG Plc at Corporate Actions, PO Box 166, The Registry, 34 Beckenham Road,
Beckenham, Kent BR3 4TH by no later than 3.00 p.m. on 23 May 2003.



Definitions used in the offer document dated 25 April 2003 have the same meaning
in this announcement, unless the context requires otherwise.



PricewaterhouseCoopers, which is authorised by the Financial Services Authority
to carry on investment business, is acting exclusively for Ferrovial Servicios
and for no one else in relation to the Offer and will not be responsible to
anyone other than Ferrovial Servicios for providing the protections afforded to
clients of PricewaterhouseCoopers or for giving advice in relation to the Offer
or any other matter referred to in this announcement.



The Offer has not been made in or into and will not be capable of acceptance in
or from Canada, Australia or Japan.  In addition the Offer has not been made,
directly or indirectly, in or into, or by use of the mails or by any means or
instrumentality (including, without limitation, by means of telephone,
facsimile, telex, internet or other forms of electronic communication) of
interstate or foreign commerce of, or by any facilities of a national securities
exchange of, the United States and the Offer will not be capable of acceptance
by any such use, means, instrumentality or facility or from within the United
States.  Accordingly, copies of this announcement are not being, and must not
be, mailed or otherwise forwarded, distributed or sent in, into or from the
United States.  Custodians, nominees and trustees should observe these
restrictions and should not send or distribute this announcement in or into the
United States, Canada, Australia or Japan.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
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