Planning Consent

OAK HOLDINGS PLC                                

                     YES! PROJECT GRANTED PLANNING CONSENT                     

                    SKANSKA SIGNS CONSTRUCTION PARTNERSHIP                     

Oak Holdings plc ("Oak" or "the Company"), the AIM-listed property development
and consultancy company today announces that outline planning permission
(subject to certain conditions) has been issued for YES!, its £350m leisure,
entertainment, sports and convention project in Rotherham.

Oak also announces that it has signed Skanska UK Plc ("Skanska"), one of
Europe's leading construction services groups, as its Construction Partner for
the YES! Project.

YES! aims to be Europe's largest covered leisure development, and the outline
planning permission issued by Rotherham Metropolitan Borough Council ("RMBC" or
"the Council") represents a major step forward for the £350m regeneration
project.

Oak now plans to progress with finalising the details of the scheme to create
more than 1.25m sq ft of leisure space on a 327 acre former coalfield in the
Rother Valley; the Company received unanimous support from RMBC for a
state-of-the-art leisure, entertainment and sports project that will generate
permanent employment for 3,000 people as well as 2,000 construction jobs during
the three year development phase.

Contact:

Oak Holdings plc Tel: [phone]

Malcolm Savage, Chairman

Stephen Lewis, Chief Executive

Mike Hill, Finance Director

Baron Phillips Associates Tel: [phone]

Baron Phillips

City Financial Associates Limited Tel: [phone]

James Caithie

Resolution to Grant Planning Consent was given by RMBC in May 2006 following a
three-year process. The Government Office decided not to intervene in
determining the Planning Application in July 2006 following the statutory
referral. Outline planning permission has now been formally granted following
the completion of a legal agreement with the Council to provide a range of
public transport and highway improvements which will be delivered as part of
the scheme.



The Council's Cabinet Member for regeneration and economic development, Cllr
Gerald Smith, said: "YES! will make an immense difference to the economy not
just of Rotherham but also of the surrounding areas. It's another excellent
example of Rotherham's ambition and ability to work with partners to bring
about large-scale regeneration projects."

The Strategic Director of RMBC's Environment & Development Services, Adam
Wilkinson, who led on the project for the Council, said: "The Council's vision
of what could be done with a former pit site has been repaid by the several
years of detailed work put in by the Oak and Council teams. This will
strengthen massively the leisure, sport and entertainment appeal of Rotherham
and South Yorkshire."

YES! has also achieved a further significant milestone by signing a
Construction Partnership with Skanska UK, part of Skanska, one of the world's
leading construction services organisations. This marks rapidly growing
confidence in the YES! project as the Skanska partnership follows the Memoranda
of Understanding that have been signed with BT and E.ON.

The importance of this partnership cannot be underestimated as it enables Oak
to draw upon Skanska's acknowledged wealth of worldwide design and construction
experience. Skanska will be an integral part of the YES! development team
enabling the project to take full advantage of its research and development in
environmentally conscious and sustainable construction.

Malcolm Savage, Chairman of Oak, said: "This is a major leap forward for the
YES! project as it underlines the credibility of this important scheme that
will both generate jobs and create a world-beating fully integrated leisure,
sports and convention development under one roof. It also reflects the benefits
that can be delivered to a community when the local authority, the property
industry and global companies come together in a spirit of enterprise."

Rob Shed, Managing Director of Skanska Integrated Projects, said: "We are
excited at joining the YES! team to assist them in achieving the delivery of
this challenging project. We have a wealth of expertise in delivering major
complex projects such as this. Our early involvement plays to our `front end'
expertise, the development of a design that delivers the YES! vision to an
agreed timescale."

Skanska is the third international blue chip partner for YES! and joins global
telecoms company BT and the world's largest investor-owned power and generating
company, E.ON.

BT and E.ON are planning research and development facilities open to the public
to showcase their latest, as well as future, technologies within an
entertainment and leisure environment, which will enhance the educational side
of the visitor experience.

Under the agreement, both companies will initially work together to provide
resource and support for the next stage of the YES! Project. It is also
proposed that the partners will collaborate with the Company and the
hand-picked design team to promote Oak as an exemplar for sustainable,
environmentally responsible projects.

Plans for YES! will enable the creation of a unique blend of differing leisure,
sport, entertainment and convention activities under one spectacular roof.
These facilities will be supported by cafes, bars, restaurants and clubs
catering to a wide range of tastes.

YES! aims to offer an exciting range of sports that will be a mixture of
adrenalin, skill and pure entertainment. There will be the UK's largest indoor
extreme sports centre providing, amongst other things, spectacular climbing
walls with high spectator viewing galleries.

The scheme is ideally located. It is approximately two miles from J31 of the M1
and it is estimated that 17m people live within two hours' drive time of the
project. New link roads will be constructed making access to YES! easy and
provide a unique arrival experience.

Architects to the project are Holder Mathias Architects and CZWG Architects
while Tropus is the Project Manager.