PKW Parkwood Hldgs.

    Parkwood Holdings plc                             

RNS release

5 July 2007

                   Refinancing of Joint Venture Senior Debt                    

Parkwood Holdings Plc (Parkwood), the support service specialists, has
completed the refinancing of senior debt in its Boxwood Leisure Limited
(Boxwood) joint venture with HPC Nominees Limited (HPC). Parkwood, through its
wholly-owned subsidiary, Parkwood Project Management Limited (PPML), has a 50%
shareholding in Boxwood.

The joint venture is one the largest Leisure PFI/PPP procured to date and has
been responsible for the refurbishment at the Crook Log and Erith Leisure
Centres and the development of a new leisure centre at Sidcup on behalf of the
London Borough of Bexley (Bexley).

The joint venture, which originally reached financial close in July 2003, has a
contract with Bexley until 2035 covering these impressive facilities, which are
managed by the Group's leisure division, Parkwood Leisure Limited.

As a result of the refinancing PPML and HPC will each receive �1.77 million in
cash and Bexley will receive �0.97 million as part of its share of the gain
arising from the refinancing. The shareholders will also receive �1.7 million
in respect of the early redemption of subordinated debt. The PPML share of this
redemption amounts to �0.34 million.

The level of non-recourse debt on the Parkwood balance sheet will increase by 
�3.6 million.

The new senior debt funding has been provided by NAB Capital.

Tony Hewitt, Executive Chairman, commented: -

"This is good news for Parkwood. By refinancing this major joint venture we
have been able to increase the Group's cash balances by �2.11 million. We will
put this cash to work delivering further growth in our revenues and profits."

For further information, please contact:

Parkwood Holdings                      01772 627 111

Tony Hewitt, Executive Chairman

Terry Bowman, Group Finance Director

Gresham PR Ltd.                        020 7404 9000

Neil Boom

Brewin Dolphin Securities Limited      0113 241 0126

Neil Baldwin

Information on Parkwood Holdings plc can be accessed via the company's website
at

www.parkwood-holdings.co.uk

Notes to editors:

Parkwood Holdings plc specialises in providing outsourced and support services,
predominantly to the public sector across England and Wales (and now Scotland)
under long term contracts. Its four main areas of operation are as follows:

Glendale              Provides amenity horticulture, grass cutting,          
                      arboriculture and care of sports pitches, parks and    
                      open spaces. The division also includes golf course    
                      management, waste recycling, environmental consultancy 
                      and horticulture.                                      
                                                                             
Parkwood Leisure      Manages a diverse range of public and private leisure  
                      facilities, including swimming pools, sports halls,    
                      gyms, health suites and catering operations.           
                                                                             
Project Management    Undertakes PFI, PPP and similar bids on behalf of joint
                      ventures and the Group. Project Management is also     
                      responsible for management of contracts and funds such 
                      as the lifecycle funds associated with the project     
                      agreement.                                             
                                                                             
Healthcare            A healthcare agency and patient transport business,    
                      dealing both with the NHS and the private sector.      



END

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