Cardiff International Airport

TBI PLC
17 December 2002


                                    TBI PLC


                         Re:  Cardiff International Airport


Commenting on British Airways' announcement today regarding its regional
services, Keith Brooks, Chief Executive of TBI plc, said:

'British Airways today announced its decision to withdraw all services from
Cardiff International Airport.  We understand the decision is in response to an
overall rationalisation of the BA CitiExpress route network and base structure.

'However to put this in context, British Airways traffic represents 90,000
passengers out of 2.4 million annual passenger footfall at Cardiff on a proforma
basis.  This will impact passenger numbers by 11,000 in the year to March 2003
and represents a shortfall in contribution of £250,000.

'That said, Cardiff recently succeeded in attracting the new low cost carrier,
bmibaby, which launched its second UK hub at Cardiff in October and has just
announced the addition of a third aircraft for summer 03, increasing the total
to 12 new routes and 166 flights per week.  On an annualised basis, bmibaby
traffic is projected to represent 800,000 passengers and revenue of £3.0 million
at Cardiff, although the full impact of this revenue will not come through until
2003/4.

'Given that both Paris and Brussels services have operated successfully for a
number of years, we are confident they will represent an opportunity for other
airlines, and we are currently in dialogue with a number of other operators to
this end.  Our priority will be to work as quickly as possible to secure
continuation of these two important connections.'


                                                                17 December 2002


ENQUIRIES:

TBI plc                                                      Tel:  [phone]
Keith Brooks, Chief Executive
Caroline Price, Finance Director

College Hill                                                  Tel: [phone]
Justine Warren
Gareth David


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