Leighton Asia Awarded HK$1.14 billion (A$233 million) Rail Project in Hong Kong

Leighton Asia Limited, in joint venture with China State Construction Engineering Corporation, today was awarded a HK$1.14 billion (A$233 million) rail construction contract at Tseung Kwan O in Hong Kong for the Mass Transit Rail Corporation (MTRC). Leighton's share is HK$880 million (A$180 million).

Leighton Asia Managing Director, Mr John Faulkner, said that this contract would provide a significant boost to the company's workload in Hong Kong with construction commencing immediately.

"Whilst bidding has been quite competitive, the HK$90 billion (A$18 billion) rail infrastructure program approved by the Government should continue to provide some good opportunities, said Mr Faulkner. "This is the seventh major contract let with another 18 still to be awarded.

"Our contract forms part of the MTRC's HK$24 billion (A$4.9 billion) Tseung Kwan O Extension which was given the highest priority in the Government's 1994 Railway Development Strategy," he said.

"It involves construction of an underground station, two cut and cover tunnels, a public transport interchange and associated substructures, as well as roadworks adjacent to the station.

"The station will include platforms and plantrooms, an above ground concourse, staff accommodation areas and space for customer service facilities. Included in the works is a significant foundations component.

"Construction is scheduled for completion in September 2002," said Mr Faulkner.

Mr Faulkner said prospects for Leighton Asia remained positive, particularly in Hong Kong and the Philippines, despite economic conditions in the region.

"The outlook for us here in Hong Kong is promising. There are significant prospects in government building and engineering construction projects," he said.

Leighton Asia Limited, a subsidiary of Australia's largest contracting and project development 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:

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