Leighton Asia Awarded Another Major Contract in Hong Kong

Leighton Asia Limited today was awarded a HK$910 million (A$186 million) contract to construct a major housing development at Tin Shui Wai in Hong Kong for the Hong Kong Housing Authority.

The new contract follows last week's announcement that the company was awarded a HK$1.14 billion (A$233 million) rail construction contract at Tseung Kwan O in Hong Kong in joint venture with China State Construction Engineering Corporation. Leighton's share of the rail contract is HK$880 million (A$180 million).

Managing Director of Leighton Asia, Mr John Faulkner, said the housing contract would boost the company's forward workload and takes the level of new work won in Hong Kong since January to HK$1.94 billion (A$396 million).

"We have now won three major contracts in Hong Kong since January which have taken our current work in hand in Asia to HK$4 billion (A$816 million)," he said.

In February Leighton was awarded a HK$147 million (A$30 million) contract to install two submarine fresh water pipelines across the Ma Wan Channel for Sun Hung Kai.

The new housing project involves the construction of four 41-storey residential towers containing a total of 1,280 units, and two seven-storey schools. The contract includes piling for the schools and all external works.

Construction will commence immediately and is scheduled for completion in April 2001.

Leighton Asia is currently undertaking two other large scale residential developments for the Housing Authority, worth respectively HK$1.08 billion (A$220 million) and HK$697 million (A$142 million).

Mr Faulkner said Leighton's track-record with the Housing Authority and the company's innovative, time-saving construction techniques were major factors in winning the contract.

"Over the past 20 years we have developed a strong relationship with the Housing Authority and this is the 17th project we have undertaken for them.

"We have been developing new construction methods to deliver Housing Authority projects faster and more economically, whilst still maintaining our high quality and safety standards," he said.

Leighton Asia Limited, a division of Australia's largest construction group, Leighton Holdings Limited, has been successfully operating in Hong Kong since 1975. It has become one of Asia's largest broad-based construction contractors, with expertise in all aspects of civil, marine, building and foundation engineering and construction.

Leighton Asia also operates in Malaysia, Thailand, Vietnam, the Philippines and China and has around 2,300 employees throughout the region.

ENDS.

For further information, please contact:

In Hong Kong
Mr Chris Gordon
Corporate Communications Manager
Leighton Asia Limited
Ph: (852) 2823 1493

In Australia
Ms Penny Bingham-Hall
General Manager, Corporate Affairs
Leighton Holdings Limited
Ph: (61-2) 9925 6641