Hunton & Williams LLP Represents Project Service LLC in Innovative Public-Private Partnership with State of Connecticut

Atlanta, GA, November 23, 2009 — Hunton & Williams LLP acted as exclusive concession counsel to Project Service LLC on a public-private partnership transaction with the State of Connecticut to redevelop, operate and maintain 23 highway service areas across the state.

Project Service LLC is a joint venture between The Carlyle Group, a global private equity firm; Doctor’s Associates, Inc., the parent company of SUBWAY Restaurants; and Subcon Inc., the development company for Subway restaurants in Connecticut and New York. Project Service LLC and its tenants will invest approximately $178 million in renovations and upgrades to the service areas, which are located on Interstates 95 and 395 and Route 15.

The redevelopment plan also includes additions of Subway and Dunkin’ Donuts restaurants and improvements to fuel service and convenience store offerings and the addition of more than 300 new Connecticut jobs.

A multioffice, multidisciplinary team of lawyers from Hunton & Williams led by Roth Kehoe and David Yates in Atlanta represented Project Service on the transaction.

“We are thrilled to have worked with Carlyle, Doctor’s Associates and Subcon on this extremely important public-private transaction,” said Roth Kehoe, partner in the corporate and M&A practice in the firm’s Atlanta office. “Connecticut Governor Rell called the transaction an ‘unprecedented commitment to economic development, jobs and meeting the needs of the traveling public.’ With states and municipalities struggling with budgets, we expect more state and local governments to look to this model as an innovative way to attract private capital for necessary infrastructure projects.”

Barry Gold, managing director and co-head of the Infrastructure team at The Carlyle Group, said: “Hunton & Williams’ innovative model and track record in public-private partnership transactions were important factors in our success. Hunton & Williams understands our needs and provided strategic recommendations that benefited the business operations for all parties.”

A public-private partnership is a unique approach to improving infrastructure projects, such as highway service areas, via private sector funding. In this project, Project Service will pay for 100 percent of the improvements to the service areas, which include rest areas and quick service restaurants, in exchange for a right to redevelop, operate and maintain the facilities for 35 years. Connecticut will continue to own the facilities through the term of the agreement; and at the end of 35 years, will resume responsibility for the operations and maintenance of the facilities.

Hunton & Williams has considerable experience in public-private partnerships and has advised clients on numerous infrastructure projects throughout the world involving water and sewer facilities, hydroelectric dams, bio-mass facilities, schools, mixed-use facilities, highways and bridges, toll roads, airports and airlines, telecommunications and fiber-optic systems, transit systems, rail equipment and aircraft, including advising on the I-595 project in Florida and the Virginia I-495 “hot lanes” project, the last of which was named infrastructure project of the year for 2008 by the Infrastructure Journal.

The firm’s lawyers coordinate the delivery of legal services to the public and private sectors in a multidisciplinary team approach that involves experienced lawyers from the capital markets, project finance, transportation infrastructure, tax, environmental, public finance and real estate practices.