Skanska and Costain to build highway in London for SEK 1,675 million

Skanska and Costain to build highway in London for SEK 1,675 million. Skanska's share is SEK 500 million. Skanska has been commissioned to widen a 17-kilometer section of the A2M2 highway in Southeast London. The total order value is approximately GBP 124 million, SEK 1,675 million. The project is to be conducted by a consortium consisting of Skanska and the British companies Costain and John Mowlem. Skanska's share is 30%, or slightly more than SEK 500 million. The customer is the Highways Agency. The project includes a widening of A2M2 from two lanes to four in both directions as well as a new 950-meter bridge over Medway River, the expansion of five intersections and design work. "We have sharpened our focus on the British civil engineering market during 1999. This makes it particularly gratifying that the Highways Agency has entrusted Skanska to conduct this prestigious assignment," says Lars Johansson, President of Skanska UK. Several Skanska units will be involved in the project. Skanska Teknik has already provided assistance to WS Atkins, the British lead consultant, in design work for the bridge over the Medway River. Skanska Teknik will now also manage the continued design work for the bridge. Skanska Sweden's Bridge Department will manage the construction of the bridge. "Skanska's leading-edge expertise in bridge construction has been combined with the civil engineering and market expertise of Costain and John Mowlem to form this consortium," Lars Johansson continues. Work will commence immediately and be completed by Spring 2003. In the past 12 months, Skanska's cooperation with Costain has resulted in orders corresponding to slightly more than SEK 2.5 billion. Joint projects in progress include the Chimes, a new suburban center being built in Uxbridge, near Heathrow Airport, with an order value of approximately SEK 930 million, and the renovation of the classic Great Western Hotel over London's Paddington Station for about SEK 615 million. Stockholm, November 8, 1999 SKANSKA AB Group Communication For additional information, contact: Lars Johansson, President, Skanska UK, Tel +44-7899-793051 This and previous releases are also available on www.skanska.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/11/08/19991108BIT00140/bit0001.doc http://www.bit.se/bitonline/1999/11/08/19991108BIT00140/bit0002.pdf