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GROUP FIVE`S INTERTOLL FURTHER STRENGTHENS INTERNATIONAL TURNOVER

Release Date: 05/07/2002 10:05
Code(s): GRF
Wrap Text

GROUP FIVE`S INTERTOLL FURTHER STRENGTHENS INTERNATIONAL TURNOVER GROUP FIVE LIMITED Press release Friday July 5 2002 GROUP FIVE`S INTERTOLL FURTHER STRENGTHENS INTERNATIONAL TURNOVER Group Five today announced that its subsidiary, Intertoll, has further strengthened its position in the Indian market with the award of two 8-year contracts, with a combined value of US$70million, to operate and maintain two toll roads. The two national roads are situated in India`s culturally important "Golden Triangle" region. The first connects Delhi to Jaipur and the second Delhi to Agra. Agra is the home of the Taj Mahal. "This award further realises our strategies of increasing our foreign currency earnings and increasing steady long term revenues. Currently, more than 30% of our turnover is generated outside South Africa and this is set to grow," said Group Five CEO Mike Lomas. "Intertoll will execute the work through its Indian joint venture company, Intertoll ICS, which will improve the roads, provide and operate new toll facilities, and be responsible for all maintenance and traffic management. A host of high-tech systems will be installed by Intertoll to improve safety and road user services along these national routes". Intertoll forms part of Group Five`s strategic portfolio of operations and maintenance services, which complement its construction business activities and infrastructure development services. This award affirms the interim results announcement, by Group Five in February 2002, that Intertoll was strongly positioned for continued growth in turnover and profitability. -ends- Issued by: Brunswick SA (011) 442 8803 Taryn Proksch 083 273 1301 Enquiries: Mike Lomas, CEO Group Five (011) 806 0245 082 447 0641 Howard Turner, FD Group Five (011) 806 0242 082 442 2821
Date: 05/07/2002 10:03:57 AM Produced by the SENS Department

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