AGM Statement

Sutton Harbour Holdings PLC
15 August 2001



15August 2001


                           'YEAR HAS STARTED WELL'

                       reports Sutton Harbour Chairman.

Sutton Harbour Holdings the AIM listed harbour and airports operator and urban
    regeneration specialist reports satisfactory progress following record
                            performance last year.


Addressing shareholders at today's Annual General Meeting Ellen Winser,
Chairman of Sutton Harbour Holdings reported:


'The year has started well in a number of areas and we are confident that
overall we will make satisfactory progress this year despite all the forecasts
of slowdowns or worse in the economy at large.


'We believe that we are very well placed indeed for a period of increased
shareholder value in the medium term.'


In her address Mrs Winser reviewed the past financial year, which included the
full integration of Plymouth City Airport. She described this as challenging,
encouraging and ultimately successful with turnover up 83%, pre-tax profits up
98% and dividends up 12.5%.


Turning to the current year she reported that that fishing was improving with
the volume of landings up and the price of fish firm. 'The marina is full and
although the marine retail businesses are still recovering from a poor winter,
the boatyard is busy and its order book full.


'On the property front an increase in rental income is anticipated. Following
the successful completion of its first development, the Sutton Partnership
(with Plymouth City Council) is now focussing its attention on ambitious plans
for the Moon Street site in Plymouth and some returns from this are
anticipated towards the end of this financial year. Although the returns from
the Partnership are likely to be considerable, their arrival is likely to be
uneven.


'Passenger numbers at both Plymouth City and Newquay Cornwall airports are up
on the corresponding period of last year. The additional British Airways
flights to Dublin and Cork are proving popular and Newquay is benefiting from
the relocation to it of the Isles of Scilly Skybus.'


Looking to the future Mrs Winser emphasised the company's strategy was to
focus on its strengths in airport and port management, its good relationships
with local authorities and other public sector bodies and its proven track
record in urban regeneration.


For further information, contact:

Nigel Godefroy, Sutton Harbour Holdings:     01752 204186

Philip Parkes, Winningtons:    0117 317 9477 Mobile [phone]