60JI Cred Ag Co 29

RNS Number:2689I
Jarvis PLC
31 March 2000


Jarvis plc completes #111m Placement in US Debt Market
and #60m of new UK Bank Facilities

Jarvis plc ("Jarvis"), the international facilities management group, is pleased
to announce that it has successfully completed a private placement in the US
debt market, raising the sterling equivalent of circa #111m.  

Six major US institutions have purchased four series of fixed interest rate loan
notes of up to ten years duration, with a redemption profile commencing in year
five and an overall average term of over seven years.

The major part of the US placement was raised directly in sterling and Jarvis is
putting in place arrangements to hedge the $75 million raised in dollar
denominated notes.

At the same time the Group has secured new revolving credit and overdraft
facilities for working capital purposes with each of its three UK relationship
banks, Barclays, Royal Bank of Scotland and National Westminster, totalling #60
million. 

The proceeds from the new financings have been used to repay the syndicated bank
debt that was incurred at the time of the Group's acquisition of Streamline plc
in June 1998 and provide increased facilities to support the continuing
development of the group.

Jarvis was advised by Deutsche Bank.

Commenting on the new financing arrangements, Henry Lafferty, Finance Director
of Jarvis, said:   "The US Private Placement has enabled the group to extend the
maturity profile of its core debt at competitive rates, reflecting the long term
nature of our service businesses.  At the same time we are pleased to be
maintaining our key banking relationships through the bilateral working capital
facilities"



For further information:

Jarvis plc
Henry Lafferty
Finance Director
Tel: +44 (0) 1920 832 800

GCI Focus
Alex Mackey/ Charlotte Earl
Tel: +44 (0) 207 398 0800

Notes to editors

Jarvis, the international facilities management group, operates throughout the
UK, in France, Holland, Belgium, Germany and exports to over 60 countries
world-wide.  It has two reporting segments:-

* Facilities Management, comprising rail infrastructure services - including
maintenance, track renewals, signalling, electrification and project integration
- traffic management products and services, highway maintenance, local authority
outsourcing, airport maintenance, workspace management and training.

* Capital Projects and Plant Hire, comprising property and construction
management services, focusing on turnkey projects, including PFI, mainly in the
education, including the University Partnership Programme, local authority,
justice, health and commercial sectors, and also a general and on-track plant
hire business.

For the year ended 31 March 1999, Jarvis reported profits before tax and
goodwill amortisation of #41.6m on turnover of #627.9m.  The group employs over
6,800 people.



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