MOU with BT

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

1 September 2006

                               Oak Holdings plc                                

                  Memorandum of Understanding signed with BT                   

Oak Holdings plc (`Oak' or `the Company'), the AIM listed property development
and consultancy group, has signed a Memorandum of Understanding (`MOU') with
BT, one of the world's leading providers of communications solutions and
services, to collaborate on the development of the South Yorkshire mixed-use
leisure scheme known as the YES! Project.

Under the agreement, BT have committed to work with Oak to explore ways in
which their extensive array of networked IT services and research and
development capability can be integrated into, and showcased upon, the project.
BT will also provide technical support to the design team and will play a
leading role in developing services and facilities which enhance visitor
experience.

Oak Chief Executive Stephen Lewis said: "This project is all about innovation
and changing perceptions. Working with eminent strategic partners will help us
create a scheme which sets new benchmarks in leisure entertainment across
Europe and indeed the rest of the world. The agreement with BT, in tandem with
the MOU signed with utilities giant E.ON last month, is further confirmation of
our commitment to make this scheme the most intelligent and sustainable
development in the UK. The quality of partners joining us is a significant vote
of confidence in our vision."

The YES! Project, a new genre of leisure destination, planned for the Rother
Valley in Rotherham, recently received confirmation that the Government Office
had given Rotherham Metropolitan Borough Council the power to grant the YES!
project with planning permission. Rotherham Metropolitan Borough Council had
previously voted unanimously in favour of the project prior to its referral to
the Government Office.

                                 * * 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.