STEPS Contract Statement re Treasury Sub-Committee Hearing  - 12 Dec 2002

Mapeley, the specialist provider of serviced business space, is pleased to note that, at yesterday’s hearing of the Treasury Sub Committee, the issues raised over the past few months in the media and Parliament about Mapeley’s tax status in connection with the STEPS Contract with the Inland Revenue and HM Customs & Excise (the “Departments”) were fully aired and satisfactorily resolved.