PKW Parkwood Hldgs.

RNS Number:7469P
Parkwood Holdings PLC
21 August 2000


                     Parkwood Holdings plc
                          ("Parkwood")
                               
  Parkwood wins PFI contract for management of Defence Animal
                            Centre

Parkwood  Holdings plc, the support services group,  announces
that  Realm Services (DAC) Limited ("Realm"), a PFI consortium
in  which  it is Project Manager and an equity provider,   has
been  awarded a 25 year contract to manage the Defence  Animal
Centre  ("DAC")  at  Melton Mowbray, Leicestershire.  Parkwood
will  receive revenues of approximately #1.8 million per annum
during the term of the contract.

The  Defence  Animal  Centre  is one  of  the  largest  animal
training  centres  in  the world outside  of  the  USA.   This
includes  training horses for various Army regiments including
the  Household Calvary and training for dogs for guard  duties
and  drugs  and  explosive detection, for  the  Armed  Forces,
Customs   and   Excise,  Home  Office  and  other   government
departments.   The  DAC  is  also home  to  the  Royal  Animal
Veterinary Corps.

The  PFI contract includes a significant rebuilding programme,
to  be  undertaken by Taylor Woodrow Construction Ltd.,  which
will   incorporate   a   new  Headquarters   with   associated
accommodation  and infrastructure. Subsequent  maintenance  of
the  new accommodation and delivery of support services at the
DAC  will  be  provided  by Parkwood  subsidiary  Glendale  FM
throughout the 25 year operational period.

Debt  funding  of  around #11.5 million will  be  provided  by
Barclays  plc,  while  the majority equity  provider  will  be
Innisfree Partners Ltd.

Tony Hewitt, Chairman and Chief Executive of Parkwood Holdings
plc commented:

"We  are delighted to be awarded our first PFI contract, which
is  a key milestone in the development of the Group.  Not only
do  we  welcome  the  opportunity to work  with  the  MOD  and
Barclays,  but  we  also  believe that  the  signing  of  this
contract should assist the Group in securing further long term
contracts in the PFI sector."

Armed Forces Minister John Spellar said:

"I  am  pleased to make this announcement.  It is yet  another
example  of  our  continued effort to  forge  links  with  the
commercial sector where it is viable.  I am confident that the
same  professional training of our animals and their  handlers
will  continue.  I am especially pleased that everybody's jobs
are  safe and that future liaison with external customers  may
even lead to more employment opportunities."

                               
For further information please contact:

Parkwood Holdings Plc                              01772 627111
Tony Hewitt, Chairman and Chief Executive
Doug Eadie, Finance Director

Square Mile Communications                         020 7601 1000
Nick Oborne/Stephanie Smart

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