Leading engineering and construction companies to form the first Global Industry B2B Exchange

LEADING ENGINEERING AND CONSTRUCTION COMPANIES TO FORM THE FIRST GLOBAL INDUSTRY B2B EXCHANGE June 28, 2000 - A new open and independent global business-to-business venture was announced today by four leading international engineering and construction companies. Known initially as AECventure (www.aecventure.com), the new exchange will revolutionise the entire Architectural, Engineering and Construction [AEC] industry, by linking global and regional portals in an innovative business model. The initial partners are AMEC, Bovis Lend Lease, Hochtief and Turner, and Skanska. These partners possess a wealth of global experience, with operations in Africa, Asia, Europe, North and South America and the Pacific spanning more than 60 countries. Combined, the partners manage billions of dollars in construction projects around the world each year and discussions are already underway with further important global and regional partners to join the venture. The marketplace is to be neutral and open to the entire industry. This unique business model is the first of its kind in this industry, which is the world's largest in terms of revenue, $US3.3 trillion per annum, employs almost 15% of the global workforce, and represents 10% of world GDP. AECventure's goal is to improve the efficiency and effectiveness of the entire industry by creating a value foundation for owners, architects and engineers, general contractors, subcontractors, distributors, suppliers, manufacturers, builders and other construction industry groups through real-time information exchange and online collaboration. Communications and procurement processes will also benefit greatly by the offerings of AECventure. The portal will provide an integrated range of marketplace, collaboration, project management and other specialised tools in an Application Service Provider (ASP) model that promotes greater efficiency and effectiveness. In a joint statement, Mssrs. Peter Mason, CEO of AMEC, Luther Cochrane, CEO of Bovis Lend Lease, Hans-Peter Keitel, CEO of Hochtief and Claes Bjork, CEO of Skanska said, This venture will fully leverage the strengths of the AEC industry - an industry that's responsible for creating vast public infrastructure, including roads, schools, hospitals, factories and industrial facilities, and all types of other buildings. This is truly a compelling value proposition for all members of the industry chain because everyone can access and benefit from improved speed, accuracy and transparency in the supply chain. We will be able to offer best-of-class services and applications from around the world and make them available to everyone. We also look forward to facilitating cross border and regional trade and opening new suppliers and service providers to new markets. And, we're confident that this venture will be a success because we have the critical mass, an incentive and ability to take a long term focus and a detailed understanding of the entire industry chain." The founding companies are currently in negotiation with several other partners and are actively seeking new global and regional alliances around the world. They expect to announce their first regional portal members, supported through collaborative technologies and services provided by AECventure, in the near future. The launch of this exchange is planned for fourth quarter 2000. Skanska is one of the initiators of the new e-business site. The initiative is part of the Group's aim to increase customer benefits and develop the industry's know-how and service. Skanska is a global company with years of international experience. Working to develop the industry's technology base is a central element of Skanska's operation. Skanska was a forerunner in introducing computer systems for communications and continuously works on technical solutions to enhance quality and reduce costs. "The new e-business site represents a new giant stride. Through AECventure, a global network is being created through which we can continue to develop the industry in cooperation with our customers, partners and suppliers," says Claes Björk, CEO of Skanska AB. The e-business site will be an instrument to accelerate development of the industry's purchasing and logistics routines and of project networks for customers, consultants, project developers and builders. With this global platform as a base, Skanska will strive to ensure that sites are developed in local markets. Initially, in areas in which Skanska already holds a strong position such as the US, Argentina, Scandinavia and Central Europe. For further information, contact: Per Westlund, Executive Vice President, Skanska AB, Tel +46 8 -753 8800 Sofia Heidenberg, Acting Vice President Group Communications, Skanska AB, Tel +46 8-753 8747 A picture of Skanska CEO Claes Björk for publication will be available at www.skanska.se/marknadsplats Or visit: www.aecventure.com www.skanska.com This and previous releases can also be found at www.skanska.com PROFILE OF PARTNERS AMEC plc (LSE:AMEC) is a provider of engineering, service and technology solutions to the world's infrastructure, manufacturing and process industries. The company creates value for customers through innovative partnerships and alliances, a range of new technologies and total life of asset support. AMEC owns 41.6 per cent of SPIE S.A., the French-based, international electrical engineering, IT, infrastructure and construction services company. AMEC has an option to buy the balance of SPIE in 2002. AMEC also recently merged with AGRA Inc., a leading North American professional services firm, specialising in engineering, construction, environmental work and technology. In total, AMEC employs 50,000 people in 40 countries with annualised revenue in excess of US$8 billion. AMEC is headquartered in the United Kingdom. AMEC's web site is at www.amec.com. On a worldwide basis, The Lend Lease Group (ASX: LLC) is an integrated global real estate funds management and services Group. It operates on six continents in the areas of real estate funds management including equity and debt origination and management, project management and construction and property development. Through its global real estate investment management business, Lend Lease ranks as one of the largest real estate investment managers in the world. Bovis Lend Lease is a world leading project management and construction services company with 6,800 employees in 38 countries with projects under management in excess of US$30bn. Projects range from Sydney's Olympic Village to the Toyota Yaris factory in France, the Scottish Parliament building in Edinburgh, Japan's Sapporo Dome being built for the 2002 World Cup and the new US Grand Prix Circuit in Indianapolis. (www.lendlease.com.au) (www.bovislendlease.com) Hochtief is one of the leading international construction companies. As a natural complement to its core businesses of building and civil, the company is continuously expanding its range of services, which include airport management, project development, software, environmental technology and facility management. Hochtief is increasingly involved not only in planning and building, but also in financing and operating complex infrastructure and other projects. The company is represented in all major international markets: in North and South America, West, Central and Eastern Europe, in Southern Africa, the Asia-Pacific region and Australia. Projects range from the New Athens International Airport - the largest- ever international airport project to include a major privately financed element, the Sony Center on Berlin's Potsdamer Platz and the bridge over the Öresund which connects Denmark and Sweden. HOCHTIEF is also involved in what is currently one of the world's biggest infrastructure projects: the construction of the new high-speed rail link between Taipeh and Kaoshiung in Taiwan. With EUR 8.42 billion in work done during fiscal year 1999, Hochtief became Germany's largest construction company. Its goal for 2000 is more than EUR ten billion. Hochtief recently acquired The Turner Corporation, Dallas, Texas. http://www.hochtief.com Skanska is one of the world's leading companies within construction- related services and project development. Operations aim to meet people's needs for housing, workplaces and communications. Skanska operates throughout the entire value circle - from concept and development to construction, operation, maintenance and service. The company was founded in 1887 and has operations in over 50 countries. Its primary markets are Sweden, USA, Argentina, Denmark, Finland, Norway and Poland. Sales exceed SEK 100 billion, more than US$11 billion. Approximately 20% of net sales are attributable to assignments within the telecom and internet infrastructure segment. The company today has 60,000 employees. (www.skanska.com) The Turner Corporation, through Turner Construction Company and other construction subsidiaries, is the leading general builder in the U.S. Founded in 1902, and acquired by Hochtief in 1999, the firm operates through 41 offices and has construction projects underway throughout the U.S. During 1999, The Turner Corporation completed nearly US$5bn of construction. (www.turnerconstruction.com) ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/28/20000628BIT00040/bit0001.doc http://www.bit.se/bitonline/2000/06/28/20000628BIT00040/bit0002.pdf