JANUARY 28, 2006

BRDC confirms St Modwen

The British Racing Drivers' Club has confirmed that St Modwen Properties plc has been chosen as its proposed preferred developer and the board is seeking the approval of the members to move ahead with the deal. There will be an extraordinary general meeting to discuss the project on February 22 at Silverstone. After that, if the members are in agreement, the contract will be signed and then put to the membership in April at the annual general meeting.

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