Russian Railway Contract (6570T)

TIDM50ML

RNS Number : 6570T

Obrascon Huarte Lain, S.A.

08 December 2011

London Stock Exchange

Madrid 08 December, 2011

Ref.: Notification of Significant Event: Russian Railway Contract

Dear Sirs,

The company, OBRASCON HUARTE LAIN, S.A. (OHL), in compliance with current legislation, hereby reports the following Significant Event:

The Company advises that OHL's Czech subsidiary, OHL ZS, a.s., in which OHL holds a net stake of 88.01%, has signed a contract with OAO Jarmalskaja Zeleznodoroznaja kompanij, SA, a publicly owned company, in which Russian Railways, Gazprom and Ural Industrial Corporation (which brings together various Russian Public Administrations) hold a stake of, for the construction of the railway line between Obskaja, Salechard and Nadym, including a bridge over the river Ob.

The initial budget of the contract is of 1.5 billion euros and the execution period is of 4 years.

It is expected that the project will count with an 800 million euros financing granted by the Czech Export Bank, and it is also expected that the rest of the financing, until completing the full investment of the project, will be funded by first class Russian financial institutions (to be determined) and the Russian State.

The contract is subject to usual conditions typical in these projects, and is expected to come into force in the year 2012.

Yours faithfully,

Jose Maria del Cuvillo Peman

Vice-Secretary of the Board of Directors

This information is provided by RNS

The company news service from the London Stock Exchange

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