Subsid's Mngmnt Contract

TBI PLC
31 August 1999



Contacts:          Keith Brooks, Chief Executive
                   Caroline Price, Finance Director
                   TBI plc                                 0171 355 2345

                   Becky Jewers
                   Holborn Public Relations                0171 929 5599

                                TBI plc

             TBI wins contract to operate domestic terminal at
                  Orlando Sanford International Airport

TBI US, an American subsidiary of TBI plc ('TBI'), the owner and operator of
airports, today approved a memorandum of understanding defining the terms by
which they are to operate, manage and develop the domestic airline terminal at
Orlando Sanford International Airport ('OSI'). 

TBI, who recently announced, subject to shareholder approval, the acquisition
of the US-based airports group, Airport Group International Holdings for
US$143.4 million (£89.0 million), have managed the International terminal at
OSI since May 1997.

As part of the agreement, TBI US will pay $10 million in consideration for the
30 year management contract, against the $25 million cost of the planned
domestic terminal expansion project. $7.5 million will be paid initially and
applied directly towards construction costs. The remaining £2.5 million will
be spread evenly over the first five years of the agreement in the form of
$500,000 annual payments used by the Airport Authority for airfield capital
requirements.

Keith Brooks, TBI plc's Chief Executive said, 'TBI have been interested in
making this additional investment in OSI for quite some time. We are investing
in the facilities at OSI because we believe there is enormous potential for
future development at the airport and will add to the value of the holdings at
TBI'.



Notes for editors

Passenger numbers at Orlando Sanford International were up by 200,000 to £1.2m
at year end 1999 on the previous year. Spend per head was also up in 1999 to
£4.08 (1998 - £3.13).