Joint Venture

Compass Group PLC 23 May 2000 COMPASS GROUP, RUGBY FOOTBALL UNION AND PETER PARFITT SPORT FORM NEW CATERING COMPANY FOR TWICKENHAM Compass Group, the Rugby Football Union (RFU) and Peter Parfitt Sport today announced the launch of Twickenham Experience Ltd, a joint venture company capitalised at £42 million, which will provide match day spectator catering and hospitality, conference, exhibition, meeting, reception and banqueting services at Twickenham Stadium, the home of English rugby. Compass Group and Peter Parfitt Sport have subscribed for shares in the new company. Compass Group will hold 40 per cent and Peter Parfitt Sport 7.5 per cent, leaving the RFU as the majority shareholder with 52.5 per cent. The RFU will receive £16.75 million as payment for the rights to Twickenham Experience Ltd and, thereafter, profits will be split between the shareholders according to their shareholding, generating a strong stream of income for the RFU. The board of the company will consist of a chairman and six directors: three appointed by the RFU, two by Compass Group and one from Peter Parfitt Sport. Twickenham Experience Ltd begins operating immediately and is responsible for the sales, marketing and operation of all catering and hospitality facilities within Twickenham Stadium, which include hospitality suites and boxes, meeting rooms, restaurants, bars and refreshment points. The next international matches at the stadium will be in the autumn, when England takes on Australia, Argentina and South Africa prior to the Six Nations Championship in early 2001. Enquiries: Nick Lyon / Wendy Baker Hudson Sandler Limited 020 7796 4133 Editors' notes: Compass Group is the world's largest foodservice organisation, with over 190,000 employees in more than 75 countries worldwide. Compass Group's UK leisure business companies provide hospitality and foodservice to leading sporting events including the Open Golf Championship, the Compass Group English Open, Goodwood Racecourse and Motor Circuit, Wembley Stadium, Aintree Racecourse and the Dome at Greenwich. Around the world, Compass Group companies provide foodservice at the Ryder Cup, the Oscars, the Guggenheim Art Gallery in New York, the 2000 Summer Olympics in Sydney and the Winter Olympics in Salt Lake City. The Rugby Football Union which promotes, fosters and governs rugby in England, is based at Twickenham Stadium, the home of English rugby. Located in South- West London, Twickenham Stadium has been hosting major rugby matches, including England's international games, since the 1920s. Completely rebuilt and renewed in the late 1980s and early 1990s, Twickenham Stadium is the spiritual home of rugby worldwide. Peter Parfitt Sport is a specialist provider of hospitality services at leading sports venues in Britain. The company has been appointed by the MCC to provide hospitality at test matches and markets and operates hospitality facilities at other test match grounds, the British Grand Prix and major events across the country.
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