ST. MODWEN AGREES TERMS WITH AREVA T AND D FOR £55M BUSINESS/SCIENCE PARK, STAFFORD

St. Modwen, the UK’s leading regeneration specialist, has agreed terms with AREVA T and D to redevelop its existing premises at St. Leonards Avenue, Stafford into a 350,000 sq ft Business/Science Park with associated community and residential development.

AREVA T and D is currently operating out of facilities that were built 50 years ago. They are situated on a 74-acre site which St. Modwen acquired from Alstom prior to their sale of the T and D business in 2004. In the coming weeks, St. Modwen will be consulting with the community about the proposed new £55 million scheme.

Ian Romano, senior development surveyor, St. Modwen says:

“In agreeing terms, AREVA is not only reinforcing its commitment to Stafford but the long term future of a key employment site for the region will be confirmed. We look forward to consulting with the local community about our proposals before submitting our application, after which we hope to commence construction work in the Summer”.

Maurice Williams, finance director, AREVA T and D UK explains:

“We have been working closely with St. Modwen to develop our plans for upgrading our sites right across Stafford. We were recently able to conclude the first part of our plans at the end of last year by buying back the facilities we had been leasing from St. Modwen at Lichfield Road.

“Our current facilities at St. Leonards Avenue were originally built in 1962 and no longer match our future requirements. We have a long standing and positive relationship with Stafford which has grown to become the home to a number of global centres of excellence. We now want to give Stafford the best chance of retaining its strategic position and a build facilities that reflect our position as the UK’s leader in our field.”

Notes to Editors

St. Modwen Properties PLC:

St. Modwen is the UK’s leading regeneration specialist, operating across the full spectrum of the property industry through a network of seven regional offices and a Birmingham based head office. The company is wholly focused upon regeneration with expertise in brownfield land renewal, partnering with industry, town centre regeneration and heritage restoration. www.stmodwen.co.uk

About AREVA:

With manufacturing facilities in 43 countries and a sales network in more than 100 countries, AREVA offers customers reliable technological solutions for CO2-free power generation and electricity transmission and distribution. We are the world leader in nuclear power and the only company to cover all industrial activities in this field. Our 71,000 employees are committed to continuous improvement on a daily basis, making sustainable development the focal point of the group’s industrial strategy. AREVA’s businesses help meet the 21st century’s greatest challenges: making energy available to all, protecting the planet, and acting responsibly towards future generations.

AREVA’s T and D division is an active player around the globe. It designs, manufactures and supplies a complete range of equipment, systems and services for all stages in the transfer of electricity, from the generator to the large end-user. www.areva-td.com

For further information, please contact:

Charlotte McCarthy

PR Manager

St. Modwen

T: 0121 222 9400

E: cmccarthy@stmodwen.co.uk