Pinewood Shepperton has announced its intention to seek approval from the relevant planning authorities for a significant extension to Pinewood Studios, on land adjacent to the existing Pinewood site. This proposal, known as "Project Pinewood", will create the world's first purpose-built Film and Television 'live-work' community and ultimately a cluster for the wider creative industries. In doing this, Project Pinewood will combine the vocational requirements of the national and international film and television industries with the UK Government's demand for sustainable communities.

The £200 million new development will be a "collage" of locations specifically designed for the production of film and television. The site will comprise permanent working sets of streetscapes and zones replicating locations across the UK, Europe and the US. These zones will include an amphitheatre, a complete castle, a Venetian canal, an Italian lakeside and street scenes from London, New York, Paris and Los Angeles. These permanent settings will give a significant boost to the speed, efficiency and creative options available for the production of Film and Television shows. They will also bring together the UK's creative industries in one place and enhance Pinewood Studios' position as one of the premier facilities for television and film production worldwide. As a key part of the design, Project Pinewood will also be a residential development, with the proposed creative community (expected to be in the region of 2000 and 2250 homes) being integrated with the film locations. It is anticipated that the project will create a sustainable community that will significantly contribute to the shortage of housing in the South East.

Commenting on today's announcement, Ivan Dunleavy, Chief Executive of Pinewood Shepperton plc said: "This is an ambitious and exciting project that is of national importance. Pinewood has been home to Film and Television for the last 70 years and this development will help secure growth for the creative industries for the next 70 years and beyond. Project Pinewood is consistent with the Company's strategy, and in particular the aim to grow its media park. The facilities we create will complement Pinewood Shepperton's existing unique infrastructure and we expect it to become an important additional incentive to bring global customers to the UK. Although still in its early stages and subject to planning approvals, the project has the potential to create significant value, while minimising risks to our shareholders."

A website containing further details and visual images of the scheme is available at
www.projectpinewood.com.