London, 04 July 2013: The Prime Ministers of the UK and Malaysiavisited Battersea Power Station today to celebrate ground breaking at London smost visionary and eagerly anticipated new development  eighty years afterit first generated electricity and thirty years since it was decommissioned.

Prime Minister David Cameron and Prime Minister Najib Razak were joined by BorisJohnson, Mayor of London; Tan Sri Liew Kee Sin, President of S P Setia and Chairmanof the shareholders consortium; Tan Sri Dato Mohd Bakke Salleh, Presidentof Sime Darby; Datuk Shahril Ridza Ridzuan, Chief Executive Officer of Employees Provident Fund (EPF) and Rob Tincknell CEO of Battersea Power Station DevelopmentCompany.

The consortium behind the redevelopment comprises S P Setia, Sime Darby and EPFwith the redevelopment of the 39 acre site being undertaken by British-based BatterseaPower Station Development Company. The consortium bring with them in-depth experienceof delivering large mixed-use redevelopments like Rafael Vi?oly s masterplanfor the Power Station site, a strong and loyal customer support base and the deepfinancial resources necessary to ensure the successful execution of this iconicproject.

Work has now officially begun on constructing the masterplan, which will see thisformer industrial site become home to a vibrant new neighbourhood.

The redevelopment of the 39-acre Battersea Power Station site will lead to the creationof 3,500 new homes, shops, caf?s, restaurants and offices, set amidst a new6 acre riverside park and with the fully restored Grade II* listed Power Stationat its heart and open to the public.

The ground breaking ceremony follows the appointment of award-winning British firmCarillion for construction works at Circus West, the first phase of the site. Thisfollowed the development s sales launch on 10 January 2013 in London witha global launch covering the cities of Kuala Lumpur, Singapore and Hong Kong immediatelythereafter. Sales contracts have now been exchanged with purchasers for 841 unitsat a total value of ?685 million.

Commenting on this, Chairman of the shareholders consortium Tan Sri Liewsaid:  It is exactly one year since we first signed the sale contract forthe acquisition of the site. To have achieved this result of not just launchingPhase 1 of the development but having signed contracts with purchasers for over97% of the available units is truly remarkable. It demonstrates the reputationalstrength of the consortium members and the depth of the real customer followingwe enjoy both at home, within Asia and increasingly in the United Kingdom.

Our marketing prowess in understanding what property purchasers want, commitmentto excellence in service whether they are based in Malaysia, London or elsewhereand our UK team s depth of understanding of the project has secured this unprecedentedresult. I would also like to thank our bankers, customers and stakeholders for theirstrong support without which we could not have come so far so fast.

The redevelopment of the site will generate 15,000 new jobs and see the restorationof the historic Power Station. It will be a key element of the extensive redevelopmentof Nine Elms on London s South Bank. Battersea Power Station will be servedby a new underground station and river bus services, making it one of the most accessiblenew destinations in London.

Construction works on Circus West are scheduled for completion in 2016. Constructionof Circus West will coincide with the renovation of the Grade II* listed Power Stationitself, the largest brick building in Europe and one of the most significant survivingexamples of Art Deco architecture. This will involve the iconic chimneys being painstakinglyrebuilt to the precise design and specification of the originals, but to modernstructural standards, and they will remain the centrepiece of the site in the newdevelopment.

Commenting on the ground breaking ceremony, the Chief Executive of Battersea PowerStation Development Company Rob Tincknell, said:  This is the day on whichone of London s most keenly anticipated redevelopments has finally got underway.Eighty years since Battersea Power Station first produced electricity, and thirtyyears since it was decommissioned, construction works have started and the visionis becoming a reality. Redeveloping a site which is home to such an iconic buildingis a massive responsibility. An outstanding team has been assembled to undertakethat work. On behalf of the shareholders and owners, we look forward to workingwith all our partners and stakeholders as we work towards creating a vibrant newneighbourhood with the world-famous profile of the Power Station at its heart. 

Prime Minister David Cameron said:  We are competing in a tough global raceand the work that starts today, that will see the iconic Battersea Power Stationrestored and lead to the regeneration of the Nine Elms area bringing 3,500 homesand 15,000 jobs, shows that Britain is open for business. It is brilliant to seethis project progressing so well, going from my discussions about it with MalaysianPrime Minister Najib and investors in Kuala Lumpur last year to the strong partnershipbetween our countries and companies that enables us to break ground today. I amcommitted to encouraging more overseas businesses to invest in Britain because Iam clear that this is one of the best ways to get the growth and jobs we need.

The Mayor of London, Boris Johnson, said:  Many thought it would never happenbut today is a triumphant moment in Battersea Power Station's rebirth as well asa glowing testimony to London's attractiveness for global investors. Once the generatorof megawatts, this iconic building's revamp is now sparking the wider rejuvenationof a once neglected part of London into a vibrant new quarter. Thanks to a multi-billionpound public and private investment, which will include a brand new extension tothe northern line, the transformation of this area is set to support tens of thousandsof jobs and homes for the capital.

Notes to Editors

The Rafael Vi?oly designed mixed-use master plan comprises a careful blendof residential, offices, shops, leisure and hospitality. The iconic Battersea PowerStation, a Grade II* listed building, will form the central focus of the plans andwill be carefully restored with public accessibility at its core.

The 39-acre site fronts over 400 metres of London's famous River Thames and is lessthan a mile and a half from the Houses of Parliament. It is directly opposite Chelseaand forms the cornerstone of central London's last significant regeneration area,Nine Elms.

The Battersea Power Station site is owned by a consortium of Malaysian investorscomprising S P Setia, Sime Darby and the Employees Provident Fund. The developmentmanagement of the project is being undertaken by British-based Battersea Power StationDevelopment Company.

Battersea Power Station received outline Planning Consent in August 2011. PhaseOne received detailed planning consent from The London Borough of Wandsworth on13th December 2012.

Battersea Power Station is fully supporting the proposed Northern Line Extensionand is working with Transport for London and UK Infrastructure on the Transportand Works Act Order Application submitted in April 2013.

For further media information, please contact:

Brunswick Group
Telephone: +44 (0)20 7404 5959
Email: bps@brunswickgroup.com

Alison Dykes
Head of Communications,
Battersea Power Station Development Company
Telephone: +44 (0)207 501 0688