Cyril Sweett, the leading international construction and property consultancy is pleased to announce that the Education for Inverclyde consortium (“e4i”) has been confirmed as Preferred Bidder on the 30 year, £80 million PFI Schools project for Inverclyde Council. The e4i consortium is led by Cyril Sweett Investments(19%), Miller (41%), LST(25%) and Forth (15%). Cyril Sweett’s total funding commitment to the project is approximately £1.5M.

Under the contract the consortium will design, construct, finance and operate four new schools in Inverclyde, comprising 2 secondary and 2 primary schools. Financial close is scheduled for August 2008 and construction is expected to start in September 2008.

Dean Webster, Chief Executive Officer said:

“Education is a key growth sector for Cyril Sweett and this transaction is in line with our strategy outlined at the time of the IPO. In partnership with Inverclyde Council, the consortium has developed state-of-the-art proposals that will create an impressive educational legacy. We are delighted to have been selected as preferred bidder on this project and are now looking forward to attaining financial close and delivering first class facilities for the local communities.”

To date Cyril Sweett has provided bid direction and management services, sustainability advice, due diligence, lender’s technical advisor, CDMC services and transaction support. Going forward Cyril Sweett will undertake the roles of employers agent and SPV director.