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Balfour Beatty and the World Commission on Dams http://www.balfourbeatty.co.uk - 2 May 2001 Balfour Beatty and the World Commission on Dams2nd May 2001 As has been widely publicised, the business of Balfour Beatty¡¦s AGM on Wednesday 2 May includes a Resolution proposed by Friends of the Earth which would require the Company to adopt and be bound by, in full and in detail, the 26 guidelines set out in the recently published World Commission on Dams Report, ¡§Dams and Development¡¨. ƒç Balfour Beatty has welcomed the report produced by the World Commission on Dams (WCD) and declared its support for the efforts of the WCD to establish a framework for promoting appropriate practice in the development and execution of hydro-electric schemes. It has also committed itself to taking the WCD principles, criteria and guidelines into account in determining whether and how it should be involved in any future hydro-electric projects. The WCD guidelines are still the subject of widescale debate and evaluation amongst governments, development banks and other interested parties. In common with these other stakeholders, Balfour Beatty is evaluating the wider implications of the guidelines. The WCD guidelines are not intended to be used as conditionalities. They outline a generic approach to be used, adapted and incorporated in a manner that best meets local circumstances and developmental needs. The Company has, therefore, advised shareholders to vote against the Friends of the Earth Resolution. ƒç The Friends of the Earth Resolution makes mention of Balfour Beatty¡¦s application for ECGD support in conjunction with the proposed Ilisu Dam in Turkey. It is expected that the Environmental Impact Assessment Report, prepared by a team of independent international experts in respect of the Ilisu Dam project, will shortly be completed, at which time Balfour Beatty will publish the Executive Summary. The full report will also be made publicly available in CD-ROM form at a nominal charge. This report represents many months of intensive investigation, dating back to 1997, and has been financed by the Swiss-led construction consortium of which Balfour Beatty is a member. The Environmental Procedures and Guidelines of the Ex-Im Bank of the United States and OECD Good Practices for Environmental Impact Assessment of Development Projects have been used as the main reference for the study. The report will identify and detail the principal environmental and social challenges associated with the project and recommend appropriate action on the part of the dam¡¦s promoters, the General Directorate of State Hydraulic Works, and of other Turkish authorities. The publication of this report will offer, for the first time, the proper opportunity for consultation and comment from interested parties, as is appropriate for a project of this size and complexity. Together with the response of the Turkish authorities to the report¡¦s recommendations, the report will, in due course, form the basis for the decisions of the Export Credit Agencies potentially involved in underwriting finance for the project and of the other parties with an interest in the project. ENDS Enquiries to:- Tim Sharp Tel: 020 7216 6884 www.balfourbeatty.com/aboutus Notes to Editors
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