Close Brothers is pleased to announce that we have advised M J Gleeson Group plc on its sale of Gleeson MCL Limited to Morgan Sindall plc for £23 million on 24th March 2006.

Gleeson MCL is a construction services business involved in railway engineering contracting, in particular work for and in partnership with London Underground Limited.

The disposal forms part of a strategic repositioning of MJ Gleeson Group plc which will see the Group focus on three related areas:

• Housing Regeneration
• Commercial Property Development
• Strategic Land Trading

Gleeson has been a retained client for over five years and we will continue to work with the company to affect its strategy.

Morgan Sindall plc is a top ten UK construction group with subsidiary companies operating within four divisions: - fit out, construction, infrastructure services and affordable housing. The company has a national network of offices, employs over 5,000 people and has a turnover in excess of £1 billion.

For more information regarding this transaction please contact:

Peter Alcaraz on 020 7655 3139
Gareth Davies on 020 7655 3114
Jonathan Arrowsmith on 020 7655 3143
Charles Price on 020 7655 3130