Sewer extension completed.

Construction of a two-mile long extension of the Blind Brook Sewer into North Castle to serve KingsWood Corporate Center, MBIA and a number of existing commercial office buildings on New King Street has just been completed. The project was sponsored by the owner of KingsWood - Queensmead Associates with private financing also contributed by MBIA, New King Street Associates, Aerotech and Primerica, all of whose properties are to be served.

With the construction complete, the sewer works have been dedicated to the Town of North Castle or, where appropriate, to the Westchester County Department of Environmental Facilities.

Queensmead Associates, a partnership comprised of Trafalgar House Real Estate and Competrol Real Estate Limited, has assembled 127 acres, formerly known as the Heyman Estate, the Simmonds Property and the Greco property along King Street, Route 120, as a prestigious office park. The development, which now has all approvals and utilities in place for immediate construction, will move forward on a build-to-suit basis.

Trafalgar House Construction, a sister company of Trafalgar House Real Estate. provided construction management services for the $2.5 million sewer project. Sentrale Contracting Corporation of White Plains did the construction. KeaneCoppelman Engineers, P.C. was the design engineer.

Trafalgar House Real Estate (THRE) is the U.S. commercial real estate arm of Trafalgar House PLC, one of the largest construction and engineering concerns in the United Kingdom. Trafalgar House PLC can be traded on the NYSE by the American Depository Receipt (ADR) system through Morgan Guaranty Trust.