AGM Statement

Oak Holdings plc / Epic: OAH / Index: AIM / Sector: Property Development    

26 May 2006

                   Oak Holdings plc (`Oak' or `the Company')                   

                                 AGM Statement                                 

Oak Holdings plc, the AIM listed property development and consultancy group,
held its annual general meeting today and all resolutions were duly passed.

At the meeting, Chairman Malcolm Savage said:

"The Directors are satisfied with the Company's progress and remain confident
in its two-pronged strategy of developing major property projects, while
utilising its highly experienced management to offer an exclusive property
advisory/consultancy service.

"Our flagship enterprise remains the YES! Project, a £270 million leisure
development scheme in the Rother Valley in South Yorkshire. We submitted an
Outline Planning Application to Rotherham Metropolitan Borough Council (`RMBC')
on 31 January 2005, and entered a consultative period prior to its
consideration by RMBC's Planning Board. During this period, which has taken was
a longer than anticipated, we gained the support of Sheffield Council following
the submission to RMBC of a revised application - a revision which we believe
does not impinge on the project's commercial viability. We also spent
considerable time ensuring that the requirements of all statutory consultees
were met.

"Importantly on 11 May 2006 the RMBC's planning board voted unanimously in
favour of the project. We now continue to actively promote the scheme to ensure
the political support and momentum gained to date are recognised during the
Local Government Office's consideration of the development.

"Our property consultancy division is also making good progress. Active
discussions are taking place on a variety of projects in the UK and abroad,
which we believe have the potential to create significant returns. Our policy
is to conserve capital by negotiating a fee-earning consultancy appointment but
wherever possible to include some form of success-based equity participation,
as was the case with the SupperClub London, where we secured a 10%
shareholding. With a strong management team now dealing with a number of
potential opportunities, we believe that we are in a good position to build a
substantial income stream from this side of the business. We anticipate making
further announcements concerning consultancy developments in the near future."

                                 * * ENDS * *                                  

Contacts

Steve Lewis, CEO Oak Holdings plc Tel: [phone]

Isabel Crossley St Brides Media & Finance Ltd Tel: [phone]

Notes for editors:

  * AIM-listed Oak Holdings plc is a development company and property
    consultancy.
   
  * Its strategic focus has been on developing mixed-use, leisure-oriented
    projects in addition to creating an income-producing property consultancy
    business.
   
  * Oak's flagship scheme is the YES! Project located on a 327 acre
    ex-coalfield site adjoining the Rother Valley Country Park in Rotherham
    where the Company hopes to develop a state-of-the-art leisure and
    entertainment centre.
   
  * Oak's directors have extensive experience in property development and
    investment and are well known professionals in the property industry.