Social Housing: Contract wins

Inspace Plc
07 November 2006


Press Release                                                                                                7 November 
2006




                                  Inspace plc



                          ('Inspace' or 'the Company')



                  Social Housing - contract and framework wins



Inspace plc (AIM:INSP), one of the UK's leading specialist service providers to
the social housing market, today announces that, through its social housing
division, it has won new contracts expected to be worth £88 million, increasing
the Group secured orders and frameworks position to approaching £1.45 billion
extending as far as 2020.   The awards comprise a new repairs and maintenance
contract with Yorkshire Coast Homes together with five framework arrangements
with Bedfordshire Pilgrims Housing Association, East Thames Housing Group, The
Home Group, Nene Housing Society and Toynbee Housing Association.



Inspace will provide Yorkshire Coast Homes, a Registered Social Landlord (RSL),
with responsive repairs and maintenance services to 4,200 properties in the
Scarborough, Whitby and Saltburn coastal area of North Yorkshire.  This new
contract, which has been won from the incumbent Mitie Group plc, will be
mobilised by 1 December 2006.  The award is expected to be worth at least £18
million over the full six year period (including three year contract extension),
with the potential for the value to increase organically from this level.



The five framework awards, which are expected to contribute total combined sales
of around £70 million, each position Inspace as a preferred contractor under a
four-year programme that will deliver a variety of new social and affordable
homes.  This brings the total number of such frameworks secured by the Company
to nineteen.



Under The Home Group framework, Inspace has been jointly commissioned by the
Housing Corporation to participate in one of the sector's most innovative and
high profile schemes, investigating the effectiveness of modern methods of
construction during the creation of 106 mixed tenure homes in Cambridgeshire.



Chris Durkin, the Chief Operating Officer of Inspace's social and affordable
housing divisions, said: 'We are extremely pleased to have secured these
contracts and look forward to a long and successful partnership with each
customer.  The awards reinforce our position as a leading social housing
services provider and are an ideal fit with our over-arching strategy to provide
social housing landlords with a one-stop shop of continually improving services.
'



                                    - Ends -



Enquiries
Inspace plc
Andrew Telfer, Chief Financial Officer                 Tel: [phone]
[e-mail]                                    www.inspace.co.uk


Seymour Pierce
Mark Percy, Corporate Finance                          Tel: [phone]
[e-mail]                                www.seymourpierce.com



Media enquiries:
Abchurch
Henry Harrison-Topham                                  Tel: [phone]
[e-mail]                               www.abchurch-group.com



Notes to editors



Inspace plc is a property based support services group, and one of the UK's
leading specialist service providers to the social housing market, Inspace now
has three complementary areas of activity: Social Housing, Affordable Housing
and Corporate Assets.



Social Housing - creating and maintaining sustainable homes

The division is one of the UK's leading specialist support service providers to
social housing landlords through long term framework contracts.  Its services
comprise major 'repair and maintenance', 'stock reinvestment' and new build
programmes for local authorities, Arms Length Management Organisations (ALMO)
and Registered Social Landlords (RSLs).



Total spending on social housing is currently around £14 billion per annum, of
which around £10.3 billion is spent on repair, maintenance and improvement.  Of
this, £4 billion is spent on ongoing repair and maintenance, with the remaining
£6 billion being spent on capital projects such as major refurbishment and
improvement.  This includes a contribution of between £1 billion and £2 billion
a year from the Decent Homes initiative.  The provision of new housing, which is
currently running at around 35,000 units a year, adds a further £3.5 billion to
this sum.



Affordable Housing - developing integrated communities

The Affordable Housing division specialises in the provision of low cost homes
for sale in partnership with RSLs, usually alongside social housing built by the
Social Housing division, as part of more extensive mixed tenure schemes.  It has
already established a number of joint venture companies with RSLs and through
its involvement in the Key London Alliance consortium, has been appointed to
provide mixed tenure developments under the Government's London Wide Initiative.



Corporate Assets - improving and maintaining public and private real estate

The Corporate Assets division provides a comprehensive repair, maintenance,
capital works and interior design service across public and private sector
non-residential real estate.  It delivers 24/7 integrated maintenance services
across England, Scotland and Wales through its national network of branches and
'home based' mobile engineers.  Its specialist design-led service offers
customers an integrated interior design, installation and furnishing 'one stop'
solution.



Further information on Inspace can be found at www.inspace.co.uk




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