Dec 3 (Reuters) - Babcock International Group PLC BAB.L :
* JOINT VENTURE WINS NEW AUSTRALIAN DEFENCE CONTRACT
* HAS BEEN AWARDED A NEW CONTRACT BY AUSTRALIAN DEFENCE FORCE, WORTH AROUND AU$1.5 BILLION FOR UP TO 15 YEARS
* CONTRACT IS FOR AN INITIAL FIVE YEARS (BABCOCK SHARE FOR THIS INITIAL PERIOD AU$250 MILLION) WITH EXPECTATION OF 2 FURTHER FIVE YEAR EXTENSIONS