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Balfour Beatty Selected as Highest Ranked Offeror by the Air Force for ACC Group III Housing Privatization Project

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November 17, 2011

Project Covers Two Air Force Bases and Estimated 858 End-State Units

NEWTOWN SQUARE, PA – November 17, 2011---Balfour Beatty Communities, LLC (BBC), a subsidiary of Balfour Beatty Capital Group, Inc. and one of the leading Public-Private Partnership (PPP or P3) providers of housing, lifestyle and community solutions for members of the U.S. military and their families, is pleased to announce that it has been selected by the Department of the Air Force as the highest ranked offeror (HRO) for the privatization of family housing under the ACC Group III Housing Privatization Project. The project includes two Air Force bases, including Dyess AFB located near Abilene, Texas and Moody AFB, located near Valdosta, Georgia. As a result of the HRO selection, Balfour Beatty Communities and its partners will participate in exclusive negotiations with the Department of the Air Force for the development, management, construction and renovation of high-quality homes and other ancillary facilities and amenities to meet the community housing needs at each of the two bases. The 50-year project is expected to have a forty-two (42) month initial development period (IDP), with estimated project costs valued at approximately $73.0 million and covering an estimated 858 end-state housing units. Project partners include Balfour Beatty Construction, which will provide new construction services, and Niles Bolton Associates and Woolpert, which will provide architecture and engineering services, respectively.

“We are very pleased to have been chosen as the HRO for the ACC Group III project and honored to join with the Air Force in improving the quality of life for Airmen and their families at Dyess and Moody Air Force Bases,” commented Chris Williams, President, Balfour Beatty Communities, LLC. “Throughout our organization, we look forward to serving these brave military members and their families as they serve our country by providing high quality housing, award winning-community programs and first-class resident services,” said Williams.

The Company, with the inclusion of the HRO for the ACC Group III Housing Privatization Project, has broadened its geographic foot print throughout the U.S. to 55 military installations within 25 states and Washington, D.C.

Congressionally authorized since 1996, the Military Housing Privatization Initiative (MHPI) allows the Department of Defense and the Department of the Air Force to work with the private sector to upgrade the quality of family housing and operate and maintain that housing. The family housing assets are typically leveraged with private investment to accomplish housing construction and renovation goals faster and at a lower cost than military construction.

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