Defence Document Issued

TBI PLC
7 September 2001



For immediate release

7 September 2001







 Not for release, publication or distribution in or into Canada, Australia or
                                    Japan


                                   TBI plc

                           ('TBI' or the 'Company')



                         POSTING OF DEFENCE DOCUMENT




TBI announces that it will be posting its defence document to TBI Shareholders
today with the Board's unanimous recommendation that Shareholders should
reject the hostile and inadequate offer made for the Company by Vinci.



The Board of TBI firmly believes that:



Vinci's offer significantly undervalues TBI and does not recognise its future
prospects and potential;



TBI has a clear and successful strategy in a rapidly growing industry;



TBI has a portfolio of high quality, valuable assets, both in the UK and
internationally; and



TBI has a proven track record of profitability and growth.



The Board strongly urges TBI Shareholders to follow the Board's example and
reject this bid.  The directors and members of their families (and related
trusts), who taken together own 19 per cent. of TBI's issued share capital, do
not intend to accept the bid in respect of their own shareholdings.



G. Stanley Thomas OBE, Chairman of TBI, commented:



'We firmly reject this proposal, which significantly undervalues your company.
Make no mistake, Vinci is trying to get your shares on the cheap.  Vinci
realises that the acquisition of your shares at 90p would be fantastic from
their perspective.  This bid is entirely opportunistic.



You should not return any form of acceptance in respect of the offer.'



Keith Brooks, Chief Executive of TBI, commented:



'TBI has a clear and successful strategy.  We have an attractive portfolio of
assets in a rapidly growing industry.



Our first defence document sets out the fundamentals of our defence; we will
be writing to our shareholders with further detailed information in due
course.'



Enquiries:


TBI                                                    020 7408 7300
Keith Brooks
Caroline Price

Dresdner Kleinwort Wasserstein                         020 7623 8000
Charlie Batten
Jeremy Miller

Credit Lyonnais Securities                             020 7588 4000
Simon Bennett

ABN AMRO                                               020 7678 8000
Will Coleman

Buchanan Communications                                020 7466 5000
Charles Ryland
Nicola Cronk





The Board accepts responsibility for the information contained in this
announcement. To the best of the knowledge and belief of the Board (which has
taken all reasonable care to ensure that such is the case), the information
contained in this announcement is in accordance with the facts and does not
omit anything likely to affect the import of such information.



Dresdner Kleinwort Wasserstein Limited ('Dresdner Kleinwort Wasserstein') and
Credit Lyonnais Securities, which are regulated by The Securities and Futures
Authority Limited in the United Kingdom, are acting for TBI and no one else in
connection with this matter and will not be responsible to anyone other than
TBI for providing the protections afforded to customers of Dresdner Kleinwort
Wasserstein or Credit Lyonnais Securities nor for providing advice in relation
to this matter.