HM Treasury News Release
82/97                                               14 July 1997
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       CITY HEAVYWEIGHT TO HEAD TREASURY'S PFI TASKFORCE
                                

     Paymaster General Geoffrey Robinson today appointed
Adrian Montague, Co-Head of Global Project Finance at Dresdner
Kleinwort Benson, as Chief Executive of the Treasury's PFI
Taskforce.  

     Mr Montague (49) will join the Treasury on 15 August. 
The Taskforce, established within the Treasury following the
recent review of private finance by Malcolm Bates will be the
focal point for PFI and other Public/Private Partnerships.  

     Mr Montague will report directly to the Paymaster.  His
responsibilities will include signing off the commercial
viability of all significant projects entering procurement for
the next two years.

Commenting on today's appointment, Mr Robinson said:

     "I am delighted to welcome a Chief Executive of Adrian's
     undoubted pedigree.  He faces a great challenge at an
     exciting time and I will give him all the help he needs. 
     I am grateful to Dresdner Kleinwort Benson for their co-
     operation in releasing him.  

     "The commitment of this Government to realising the full
     potential from effective Public/Private Partnerships is 
     second to none.  We took action to reinvigorate PFI within 
     weeks of taking office.  First, we scrapped the nonsense 
     of universal testing.  Now legislative changes and the 
     Bates review are putting business on a firm long-term 
     footing."

On hearing the news that Mr Montague had been chosen, Malcolm 
Bates said:

     "It is excellent that the Government has moved so swiftly
     to create exactly the sort of Taskforce I had in mind. 
     Adrian Montague fits the bill perfectly as Chief
     Executive of Projects.  The Policy team working alongside
     him has already begun its work."

Welcoming his new challenge, Adrian Montague said:

     "My first step is to attract a top quality Taskforce. 
     This will help me deliver my ambition of making the
     Taskforce a hallmark of excellence and a guarantee of
     delivery.  I want to create close relationships with
     departments in order to develop a good flow of strong and
     well-structured projects."

Lord Walker, Chairman of Kleinwort Benson Group plc. added:

     "PFI is an important part of our worldwide project
     finance business and we welcome the steps the Government 
     has taken to improve the delivery of projects.  We are 
     proud that Adrian has been appointed to this pivotal role 
     in PFI and wish him every possible  success.  Knowing him, 
     I am sure he will achieve his objectives."


Notes to Editors

1.  In his Government ordered Review of PFI, Malcolm Bates
recommended that the Taskforce should have a projects arm (to
be headed by Mr Montague) and a policy arm.  The policy team
is being led by Peter Wanless, a Treasury official who has
been Head of its Private Finance Unit since February 1996.

2.  Adrian Montague has held senior project finance positions
at Dresdner Kleinwort Benson since 1994.  Prior to that he was
Head of Projects at Linklaters and Paines.

3.  Mr Montague will head a team of 6-8 private sector project
experts, who will be recruited over the coming weeks.  The
Treasury has already received a number of interesting
applications.  His salary will be 160,000 Pounds.

4.  A summary of the Bates review's recommendations is in
Treasury press notice 69/97.