Re Contract

    Parkwood Holdings plc

("Parkwood" or "The Group")

                              BEXLEY PPP CONTRACT                              

Parkwood is delighted to announce that its Boxwood Leisure consortium has
reached commercial close on a leisure Public Private Partnership (PPP) contract
with the London Borough of Bexley. This project is now expected to reach
financial close on 4th July 2003, subject to final credit approval from Boxwood
Leisure's funders.

This contract is expected to provide Parkwood Leisure, the Group's local
authority leisure management division, with initial annual revenues of
approximately £3.8 million, rising to £5 million after the construction phase
of the contract lasting 27 months is completed. This operational contract
should commence on 1st September 2003, when Parkwood Leisure will take over the
management of the five existing leisure facilities in Bexley.

The Group is looking forward to working with the London Borough of Bexley on
such a prestigious contract and is very grateful to the efforts of all the many
advisors and consortium partners who enabled this deal to be signed.

For further information, please contact:

Doug Eadie, Group Finance Director 07710 652572

Tony Hewitt, Executive Chairman 01772 627111

Notes for Editors;

Parkwood Holdings plc specialises in providing outsourced services to the
public sector across England and Wales under long term contracts. Its three
main areas of operation are as follows:

  * Glendale - The management of parks and open spaces for a predominantly
    local authority client base. This operation is currently being expanded
    into related "green" businesses under the "Think Green - Think Glendale"
    logo.
   
  * Parkwood Leisure - The management of a diverse range of leisure facilities,
    again predominantly for local authority clients. This Division is also the
    beneficiary of most of the Group's contracts won under the PFI procurement
    process.
   
  * Parkwood Healthcare - The provision of non emergency patient transport to
    NHS Trusts under the "National Ambulance Service" banner, together with the
    provision of nurses on an agency basis to a similar client base.
   


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