HM Treasury News Release
111/97                                  22 September 1997
____________________________________________________________

         TOP NOTCH TASKFORCE TO REINVIGORATE PFI

Paymaster General Geoffrey Robinson today welcomed the
appointment of members of the Treasury's Project Taskforce,
set up in response to the Malcolm Bates review of the PFI,
saying:

     "Today is an important step forward in harnessing private
     sector finance and expertise to fulfill the Government's
     determination to deliver high quality value for money
     projects in the public sector.
     
     "I am pleased to see such a range of talent and
     experience coming forward to contribute to achieving the
     immense benefits to be gained from good PFI and Public
     Private Partnerships. 

     "Previously the lack of concentrated expertise, a
     proliferation of unprioritised projects and constant
     reinvention of wheels used to stand in the way of
     success. The Taskforce is going to provide the assistance
     and impetus required to improve projects and deliver a
     sound basis for future business".

Eight individuals, all of whom will be full time public sector
employees, will join the Taskforce for two years. Led by
Adrian Montague, formerly of Dresdner Kleinwort Benson, they
will play a crucial role in screening all significant PFI
projects and help departments build up their PFI expertise.
They will work inside the Treasury alongside its Policy team.

Malcolm Bates said:

     "I was convinced that a small, highly skilled team of
     project - focused individuals inside the Treasury was
     vital to PFI success. But those people also had to
     command respect from Departments and the private sector
     alike. This team, whom I helped select from an impressive
     group of applicants, are all renowned in their own fields
     and bring with them a wide range of skills.  They should
     do well."

Adrian Montague, the Taskforce Chief Executive, said:

     "This is a really strong team of young Turks; they have
     the qualifications, the experience in PFI deals and,
     above all, the feel for what the private sector wants
     from the PFI to be a really effective bridge between the
     public and private sectors"


NOTES FOR EDITORS

1.   The Government pledged immediately after the General
     Election that it would reinvigorate the PFI. It
     instituted a review, undertaken by Malcolm Bates,
     Chairman of the Pearl Group and Premier Farnell.  

2.   On 23 June the Government accepted in full the resulting
     29 recommendations. At the heart of this was a new
     structure involving a central Treasury Taskforce
     combining projects and policy expertise.

3.   The Taskforce will be based in the Treasury, where two
     teams dealing with policy and projects respectively will
     work together as a single unit. The Policy wing of the
     Taskforce is made up of Sanjay Ghosh, Ben Prynn, Tony
     Whitehead, Ken Brazier and Nick Crowther, under the
     continued leadership of Peter Wanless.

4.   Members of the Projects wing of the Taskforce, headed by
     Adrian Montague, announced today are :

     Martin Buck; aged 38.  An experienced project manager,
     who spent nine years with  Nicholls Associates.  PFI
     credentials include work on the Docklands Light Railway
     Extension, Croydon Tramlink, and the London Underground
     Prestige Project.

     Kate Cohen; aged 30.  A former management consultant
     recruited from the Office of Passenger Rail Franchising,
     where she was Assistant Director. Responsible for
     franchising the Gatwick Express and Great Eastern
     Railways.

     David Goldstone; aged 35. Recruited from Price
     Waterhouse, where he has over 10 years experience of
     working with the public sector. Had been on secondment to
     the Private Finance Panel Executive, and has experience
     of a variety of local authority PFI contracts, including
     Colfox School in Dorset. .

     David Lee; aged 31.  A project finance lawyer, recruited
     from Allen and Overy.  PFI credentials include work on
     the Bridgend, Lowdham Grange, Agecroft, Pucklechurch and
     Kilmarnock Prisons, the Docklands Light Rail Extension,
     and the Channel Tunnel Rail Link.

     Fred Maroudas; aged 34.  An project finance banker,
     recruited from Dresdner Kleinwort Benson.  Has experience
     of arranging and advising on financings for PFI
     hospitals, roads, prisons, light rail and defence
     schemes, including South Bucks and Bromley hospitals, the
     M40 DBFO road, and the MOD Staff College. 

     Richard Powell; aged 28.  Recruited from Johnson
     Controls; a specialist in facilities management.  PFI
     experience includes the MOD Naval Recruitment and
     Training Agency, the Home Office Central London Estate,
     and the new British Embassy, Berlin.

     Douglas Sutherland; aged 32. Recruited from a software
     development company, InteResource Ltd, where he is
     director/owner. He has a military background, and was
     previously with the Private Finance Panel Executive,
     where he was involved in structuring PFI property
     transactions, including the DSS estate in Longbenton.

5.   The name of the eighth member, a banking expert, will be
     announced shortly.

6.   If you have access to the Internet, you can find this and
     other Treasury news releases at http://www.hm-treasury.gov.uk. 
     Other Treasury material can also be found at this site.