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Disposal of Private Finance Initiative (“PFI”) bidding operations03/12/2004 Jarvis plc (“Jarvis”) announces today that further to the announcement on 12 November 2004, it has reached agreement with HOCHTIEF Developments (UK) Limited (“Hochtief”), a wholly-owned subsidiary of HOCHTIEF AG, to dispose of its Private Finance Initiative (“PFI”) bidding business for a consideration of £1.2 million payable on completion plus deferred consideration of up to £300,000 if financial close is achieved on two of the existing PFI bids within two months following completion of the disposal. The transaction will involve the transfer of approximately 12 employees and the assumption by Hochtief of two property leases. The sale proceeds will be applied towards general Jarvis group purposes. In addition Jarvis has granted to Hochtief an option to take over its rights and obligations under the facilities management contracts in respect of the Belfast courts and Irish schools for the sum of one pound. That option is exercisable at any time up to 16 December 2004. Enquiries:
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