AGM Statement

TBI PLC
02 August 2002

                                        2nd August 2002


                                    TBI PLC

                                CURRENT TRADING


TBI plc, the owner and operator of regional airports, is holding its AGM today
at 12.00 p.m.  At the meeting, G Stanley Thomas, the Chairman will read the
following statement to shareholders:

'As we highlighted in our Preliminary Announcement on 25 June, the current year
is likely to be one of consolidation after the excellent progress in the year
just completed.  The beneficial effects of the continuing growth of low-cost
airlines' traffic at TBI airports are being offset by a slower than anticipated
recovery in the charter market. However, overall, trading remains broadly in
line with our expectations.

We are also pleased with the recognition of the potential of London Luton and
Cardiff International Airports in the Governments consultation on aviation which
will lead to a white paper setting the strategy for airport development for the
next 30 years.'


Enquiries:

TBI                                         020 7408 7300
Keith Brooks/ Caroline Price

Buchanan Communications                     020 7466 5000
Nicola Cronk                                mobile: [phone]



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