AGM Statement

Oak Holdings PLC
24 May 2007

24 May 2007


Oak Holdings plc

AGM Statement

At the Annual General Meeting of Oak Holdings plc, the AIM-listed property
development and consultancy group, that is developing the 350m YES! Project, a
1.2m sq ft covered fully integrated mixed-use leisure and conference scheme on a
327-acre site in South Yorkshire, which is to be held at 11.00 a.m. today,
Malcolm Savage, Chairman, will make the following statement:

'We continue to make progress. We remain confident in our two-pronged strategy
of developing major property projects while at the same time utilising our
highly experienced management team to build a property consultancy division,
although of course we must direct resources on a priority basis.

'With regard to the YES! Project in South Yorkshire, we received formal Planning
Consent in January this year, having resolved numerous technical issues and
incorporated in a Section 106 Agreement.

'In March 2007, we acquired the freehold of 27 acres which will provide the
access and entry plaza to the site, which represents a tangible demonstration
that the project is moving forward.

'Rotherham Metropolitan Borough Council have extended our Preferred Developer
Agreement. We are now working with them to finalise a Development Agreement
which we expect to be concluded in the near future.

'We are continuing to maintain our dialogue with potential tenants, but
substantive progress can not be made until we conclude the Development Agreement
with Rotherham Metropolitan Borough Council.

'Furthermore, in relation to the YES! Project, we have signed Memoranda of
Understanding with E.ON and BT who will work together with us on the scheme. A
further significant step was signing a collaboration agreement with Skanska
Construction UK Plc. Skanska brings construction expertise, support and
credibility. To have a partner of this calibre is not to be underestimated.

'I am now pleased to confirm that we have recently signed a Memorandum of
Understanding with Royal Bank of Scotland whereby we shall work closely with
them to conclude mutually acceptable terms for the Development Loan for the YES!
Project. RBS is the parent of our bankers, Adam and Company plc. These
agreements illustrate the growing attractiveness of the YES! Project to
prospective lenders, technology partners, infrastructure and energy suppliers
and future tenants.

'We are also making good progress on the property consultancy side of the
business. Whilst we have of necessity been required to prioritise resources
towards the YES! Project, the potential for Oak to develop a significant
consultancy business remains. Again I am pleased to be able to report that
turnover for the year to date in this division has been £350,000 - a dramatic
increase in revenues for this division.

'In addition we are hopeful that the preliminary work with a major Russian
developer and with a potential Europe-wide leisure property investment fund,
will result in agreements which will further enhance income for the consultancy
business.'


Contact:

Oak Holdings plc                Tel: [phone]
Steve Lewis, Chief Executive
Mike Hill, Finance Director








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