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JV with Dubai Government

Date : 30 April 2002

Serco Group plc (“Serco”) today announced the formation of a joint venture facilities management company with the Jebel Ali Free Zone Authority (“JAFZA”) in Dubai in the United Arab Emirates. The joint venture, which will be known as Serco Gulf, will deliver a range of engineering and other support services to JAFZA, the Dubai Port Authority (“DPA”) and Dubai Customs, which together constitute the Dubai Ports Customs and Free Zone Corporation (“PCFC”).

The formation of Serco Gulf represents a significant initiative by the PCFC to improve the quality and efficiency of its support services and to open up new commercial opportunities. Serco Gulf will deliver the engineering and other support services to PCFC at Jebel Ali, Port Rashid and other locations in Dubai under a 10-year contract term, with the total sales revenue to Serco expected to be over £40 million. It will be one of the first significant ‘multi - activity’ outsourcing contracts to have been awarded in the Middle East.

Kevin Beeston, Chief Executive of Serco, said:

“Our international strategy continues to provide us with growth opportunities and this is a significant development for Serco in a progressive and expanding market-place. With JAFZA as partners we will be able to provide a wider range of services, not just in Dubai, but also in the UAE and Gulf marketplace. Our relationship with JAFZA will provide us with greater commercial opportunities, whilst also providing a platform for PCFC to increase the value of the services it offers its customers.”

Sultan Ahmed Bin Sulayem, the Executive Chairman of PCFC said:

“The outsourcing of a number of the existing JAFZA, DPA and Customs engineering support services to Serco Gulf, will facilitate a more integrated and cohesive approach to their management, increasing the value of the services offered to PCFC’s customers. Furthermore, the diverse and well-established international experience that Serco brings to this partnership will enable us to rapidly develop a successful facilities management company that will capitalize on the increasing opportunities for outsourcing with Government, Industrial and Commercial customers alike.”

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Last Updated: 20 July 2008