STRABAG Receives World Bank Support for Nairobi Toll Road Project

NAIROBI, Kenya and VIENNA, Austria, February 1, 2011 - After Parliament approved the concession contract in December 2009
and after a long and extensive review of contract documents and compliance
systems, the World Bank has come forward with their decision to support the
Nairobi Toll Road Project under the condition that it will be implemented by
STRABAG, one of the largest international developers and contractors based in
Austria. This decision came as a big relief to STRABAG, after more than five
years have passed since they became involved with this project for the
first time.

Being the first Public-Private-Partnership (PPP) project in the
sub-Sahara region, this decision can be seen as landmark development for this
urgently needed project and more projects to follow. Kenya has waited for the
decision since the project was stopped by the World Bank in February
last year.

STRABAG mentioned in a statement that they are excited to finally be
able to go ahead with the project and made it clear that they are prepared to
continue working on the project immediately. Due to the nature of the
project, they will be required to sign the concession contract with the
Ministry of Roads and then start the due diligence process with the lending
institutions, which will provide the financing for the project. If no
further delays occur, financial close of the project can be expected
for September this year. This will assure the start of the implementation and
construction by October 2011, a long-expected step forward for the project.

    Contact:

    Diana Neumüller-Klein, CFA
    Head of Corporate Communications & Investor Relations
    Tel.: +43-1-22-422-1116
    E-mail: diana.klein@strabag.com

Contact: Diana Neumüller-Klein, CFA, Head of Corporate Communications & Investor Relations, Tel.: +43-1-22-422-1116, E-mail: diana.klein at strabag.com