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TEXT-Lend Lease unit preferred bidder for U.S. army contract

Thu Jan 3, 2008 9:22pm EST

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(Following is the text of a statement from Australian contractor Lend Lease Corp (LLC.AX))

SYDNEY, Jan 4 - Lend Lease Corporation Limited ("Lend Lease") today announced that Actus Lend Lease has been selected as preferred bidder and has entered exclusive negotiations with the US Army for the development of family housing at Fort Wainwright and Fort Greely in Alaska.

The project includes the construction, renovation and property management operations of more than 1,800 homes in a 50-year sustainable development and management real estate transaction, with an initial development budget of approximately US$420 million (approximately A$478 million) over 6 years.

The project is part of the US Army's Residential Communities Initiative to improve the quality of housing for US service members and their families.

Actus Lend Lease has ten operational projects across the United States worth approximately US$5.6 billion in development value.



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