ABM INDUSTRIES INC /DE/ acquires OneSource Services Inc.

ABM INDUSTRIES INC /DE/ acquired OneSource Services Inc. for $365 million in cash, a transaction completed in November 2007, structured as all cash.

OneSource Services Inc. operates in Janitorial / outsourced facility services, is based in United States (10,000+ accounts); listed on London AIM, had revenue of about approximately $828 million sales; approximately $8 million adjusted EBITDA (TTM to June 30, 2007). OneSource Services Inc. (London AIM: OSS) provided outsourced facilities services, including janitorial, landscaping, general repair and maintenance and other specialized services, for more than 10,000 commercial, industrial, institutional and retail accounts in the U.S. For the trailing 12 months ended June 30, 2007, OneSource's sales and adjusted EBITDA were approximately $828 million and $8 million, respectively. ABM agreed to acquire OneSource for $365 million in cash ($84.27 per share), announced October 8, 2007 and completed November 14, 2007.

We saw an opportunity to accelerate our growth strategy and we seized it. Consistent with our long-held commitment to increasing shareholder value, the acquisition of OneSource complements our strategy and further strengthens our growth prospects.

Combines two facilities-services platforms for scale, breadth and financial strength; ABM expected to drive OneSource margins toward its best-performing janitorial division and realize tax benefits from net operating loss carryforwards. Annual run-rate cost synergies of $45-$50 million, fully implemented within 12 months after closing ABM Janitorial division