Strategic Transfer of the Estate to the Private Sector (STEPS) is a Private Finance Initiative on behalf of the Inland Revenue and HM Customs and Excise Departments to transfer their property portfolios to an external organisation and be provided with serviced accommodation for a period of 20 years. The Departments' combined portfolio currently encompasses approximately 1.4 million m� and 90,000 occupiers in England, Wales, Scotland and Northern Ireland. Mapeley has been named as the Preferred Bidder by the Inland Revenue and HM Customs and Excise Departments for the STEPS Contract. Contract Commencement is set for April 2001. For more details, please read the UK Government press release, 4th August 2000.