Balfour Beatty Communities Receives Additional Funding for Expansion Phase at its Fort Carson Project

Need for additional family housing at Fort Carson as a result of the Grow The Army Initiative

NEWTOWN SQUARE, Pa.--(BUSINESS WIRE)--Balfour Beatty Communities, LLC, a subsidiary of Balfour Beatty Capital Group, Inc., announced today that its Fort Carson Family Housing military housing privatization project with the U.S. Department of the Army has received approximately $100 million in funding from the Army for an expansion phase covering the development and new construction of additional homes and amenities. A portion of the funding also will be used for the installation of air conditioning in homes built as part of the original 1999 project and the repair of existing infrastructure. Balfour Beatty Communities will oversee the design, construction, and overall management, maintenance and operational responsibilities for the new housing units, which are expected to be completed in 2013.

“This is another great opportunity to build upon the existing portfolio of military housing that Balfour Beatty Communities has constructed at Fort Carson”

“This is another great opportunity to build upon the existing portfolio of military housing that Balfour Beatty Communities has constructed at Fort Carson,” said Bruce Robinson, President and CEO of Balfour Beatty Communities. “We will be moving ahead as soon as possible so that we can meet the expanded housing needs of our military members and their families residing at Fort Carson.”

Balfour Beatty Communities took over family housing at Fort Carson in November 2003. As a result of the Grow The Army (GTA) initiative, there has been a significant increase in the military strength at Fort Carson which has led to an increase in the need for family housing. This expansion follows a 404 home project from 2006 - 2010 due to growth as a result of the 2005 Base Realignment and Closure (BRAC) legislation.

Of the homes to be constructed as part of the expansion project, homes will be designated for Junior Enlisted ranks and their families, Senior Enlisted and Junior Officers ranks and their families, and Field Grade Officers and their families. The new homes will consist of three and four bedroom, two story arrangements and one story handicapped accessible units. Design and appearance will resemble the family homes previously built under the Company’s existing Fort Carson Family Housing project. Additional amenities for the service members and their families will include multiple playground areas, one of which will be a Boundless Playground™, basketball and tennis courts.

“The master plan for the new neighborhood as well as the expansion plan for the existing neighborhoods have been designed with every effort to maximize land use while providing a safe and sustainable environment,” continued Robinson. “The ‘walkable’ community will feature central pedestrian corridors and outdoor open spaces, as well as housing located in close proximity to school, child care centers and shopping.”

About Balfour Beatty Communities, LLC

(www.balfourbeattycommunities.com)

Balfour Beatty Communities, LLC, a subsidiary of Balfour Beatty Capital Group, Inc., is responsible for the development, renovation, operation and management of military privatization housing projects for the U.S. Departments of the Army, Navy and Air Force. The company is a leader in the military housing Public-Private Partnership (PPP or P3) industry, and provides services to members of the U.S. military and their families residing on or near 44 bases located in 20 states and Washington, DC.

About Balfour Beatty Capital Group, Inc.

(http://www.bbcgrp.com/)

Balfour Beatty Capital Group, Inc. specializes in partnering with government entities and high performing public sector firms to implement their strategic plans through a Public-Private Partnership (PPP/P3) model. Through the Company’s four divisions, Balfour Beatty Communities, LLC, Balfour Beatty Capital, Inc., Balfour Beatty Energy Solutions, LLC, and Balfour Beatty Campus Solutions, LLC, it is one of the leading providers of PPP projects in the United States with over 1,000 employees nationwide.

Balfour Beatty Capital Group is a part of Balfour Beatty plc, the largest UK-based international infrastructure group operating in professional services, construction services, support services and infrastructure investments, with a proud and successful history extending back 100 years.