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July 26th, 2010

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2009/10 Assignments

The projects on which the firm advised in 2009/10 covered the educational, environmental, tourism and leisure sectors, as well as the provision of advice on public sector investment appraisal to two African governments.

Summaries of each of the projects on which the firm advised in each sector during 2009/10 are set out below, given in alphabetical order by client in each sector.

Education

Elmwood College: Business Case. Working with our colleagues in Turner Townsend Project Management, we provided financial advice to Elmwood College in preparing their business case for new College facilities.

Environment

Argyll & Bute Council: Variations in the Waste Treatment PFI Contract and Environmental Service Review. The firm is acting as financial adviser to the Council in negotiating changes to its Project Agreement with Shanks (Argyll & Bute) Ltd, who are providing waste management services to the Council under the terms of a PFI Project Agreement concluded in 2001. The firm is also advising on a wider operational review of its waste collection and treatment services, with a view to achieving significant savings its current budgets over the next 4 years.

Bristol City Council: Financial Advice on the Council’s Refuse Collection and Street Cleansing Contract. Working with colleagues in the Jacobs Group, the firm is providing financial advice to Bristol City Council on the procurement of refuse collection and street cleansing services. Our advice includes development of a Shadow Bid Model for the contract, design of the payment mechanism, development of the pricing schedules, advice on the financial aspects of the tender, and the financial evaluation of tenders submitted. The contract will be awarded in early 2012 and the aim is to achieve significant real savings compared to the current contract value.

Dumfries & Galloway Council: Variations in the Waste Treatment PFI Contract. We provided financial advice to the Council on certain proposed changes to its Project Agreement with Shanks (Dumfries & Galloway) Ltd, who are providing waste management services to the Council under the terms of a PFI Project Agreement concluded in 2004.

Edinburgh Cyrenians: Cyrenians Organic Recycling Enterprises (CORE). The firm is acting as financial advisers to the Edinburgh Cyrenians, which set up a dedicated organic recycling social enterprise in early 2009 to promote an innovative food waste collection and recycling project.

NISP / Forestry Commission Scotland: Scottish Woodfuel Availability Study. Working with colleagues in NISP, we prepared a study of the availability of wood fuel in Scotland, which quantified the amount of wood fuel that could be generated from arboricultural arisings, and analysed the economic factors driving its current and future use.

Perth & Kinross Council: The procurement of new waste treatment waste treatment facilities. The firm is acting as financial adviser to Perth & Kinross Council in the procurement of waste treatment facilities. In 2009/10, the Council tendered three contracts for the treatment of its dry mixed recyclates, mixed food and garden waste, and green and garden waste, all of which were let under the Restricted Procedure at competitive prices resulting in significant savings for the Council.

Scottish Borders Council: The procurement of new waste treatment facilities. The firm is acting as financial adviser to Scottish Borders Council in the procurement of waste treatment facilities to process its residual MSW in compliance with the requirements of the EU Landfill Directive, National Waste Strategy Scotland and Area Waste Plan. The new facilities are being procured under the Competitive Dialogue procedure. Our services include advice on all financial aspects of tender preparation and evaluation.

Tourism and Leisure

BDRC / City of Liverpool Council. Working with our colleagues in BDRC, we advised the City of Liverpool Council in assessing the economic impact of the city’s programme of events during Liverpool’s year as European Capital of Culture.

BDRC / National Galleries. Working with our colleagues in BDRC, we advised the National Galleries in assessing the financial and wider economic impact of the National Galleries Picasso Exhibition in 2009.

Britton McGrath / British Waterways. Working with our colleagues in Britton McGrath, we developed a financial and economic impact model of the proposed development of British Waterways’ visitor facilities at Foxton Locks in the East Midlands.

Britton McGrath / Hadrian’s Wall Heritage Ltd. Working with our colleagues in Britton McGrath, we developed an economic impact model to assess the economic impact of proposals to develop the tourism offer of the City of Carlisle on behalf of Hadrian’s Wall Heritage Ltd.

Britton McGrath / Hadrian’s Wall Heritage Ltd. Working with our colleagues in Britton McGrath, we developed an economic impact model to assess the likely impact of proposals to develop a key site near Haltwhistle for leisure and commercial projects, on behalf of Hadrian’s Wall Heritage Ltd.

Britton McGrath / Royal Horticultural Society. Working with our colleagues in Britton McGrath, we analysed the financial and wider economic impact of proposals to develop a horticultural visitor centre at Blenheim Palace, in a project jointly sponsored by the Palace and the Royal Horticultural Society.

Britton McGrath / Windsor Great Park. Working with our colleagues in Britton McGrath, we analysed the financial implications of developing Windsor Great Park for visitor enjoyment.

Chris Blandford Associates / Thames Water. Working with our colleagues in Chris Blandford Associates and Mallam & Co, we analysed the financial and wider economic implications of developing Thames Water’s Walthamstow Reservoirs for visitors, delivered through a separate charitable trust charged with developing the reservoirs for educational, environmental and public benefit.

Club TVA Jacques Borel: The Impact of Lower VAT Rates on the UK Hospitality Sector. On behalf of Club TVA Jacques Borel, a lobbying group that has played a key role in securing lower VAT rates for the French restaurant industry (in July 2009) and the German hotel industry (in January 2010), we prepared an analysis of the fiscal and economic impact of lower VAT rates on the UK hospitality industry to bring our VAT rates on hospitality services more closely into line with those of the rest of the EU. We are currently acting as Secretary to a Round Table of major representative associations within the UK hospitality sector examining the fiscal and economic implications of VAT and other taxes on the successful development of the sector.

Twycross Zoo. Working with our colleagues in Britton McGrath, we completed an economic assessment of the impact Twycross Zoo in the East Midlands. We also developed a model calculating the likely financial and economic implications of its future development proposals.

Economic policy advice and cost-benefit analysis

Department for International Development / Adam Smith International: Nigeria Infrastructure Advisory Facility. We have been retained by Adam Smith International (ASI) to work with the Nigerian Infrastructure Advisory Facility to develop a system for the identification, appraisal, implementation and evaluation of public sector investment projects sponsored by the Federal Government of Nigeria in accordance with international best practice. The project is funded by the Department for International Development (DFID).

Department for International Development / Adam Smith International: Rwanda Public Sector Investment Programme. We have been retained by ASI to assist the Government of Rwanda to put into place a robust framework for the identification, appraisal, implementation and evaluation of public sector investment projects. Following the development of Operational Guidelines for the Rwanda Public Investment Program in March 2009, funded by the Department for International Development (DFID), we have been retained to provide assistance in developing the Public Investment Program by implementing the operational guidelines, in a project financed under the auspices of the World Bank.

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