Re: Investment by Icelandair

easyJet PLC
22 October 2004

For immediate release
                                                    22 October 2004



FLUGLEIDIR CONFIRMS ACQUISITION OF SHARES


easyJet has been informed that Flugleidir Fjarfestingarfelag ehf. (Icelandair
Investments) has acquired 33,582,173 shares representing approximately 8.4% of
easyJet plc's issued share capital.



Prior to this afternoon easyJet and Flugleidir have had no contact on this or
any other issue. easyJet intends to treat Flugleidir in the same manner as any
shareholder and is pleased Flugleidir has recognised the value in easyJet and
its business model.





                                      END



For further details please contact:

easyJet plc

Press:

Toby Nicol, Corporate Communications                   [phone]



Analysts:

Chris Walton, Finance Director                         [phone]

Cliff Hide, Investor Relations                         [phone]














                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES



1. Name of company


easyJet plc



2. Name of shareholder having a major interest


Icelandair Investments (Flugleidir Fjarfestingarfelag ehf)



3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18


Icelandair Investments (Flugleidir Fjarfestingarfelag ehf)



4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them


Icelandair Investments (Flugleidir Fjarfestingarfelag ehf)



5. Number of shares / amount of stock acquired


33,582,173



6. Percentage of issued class


8.41



7. Number of shares / amount of stock disposed






8. Percentage of issued class






9. Class of security


Ordinary shares of 25p each



10. Date of transaction


Not known






11. Date company informed


22 October 2004



12. Total holding following this notification


33,582,173



13. Total percentage holding of issued class following this notification


8.41



14. Any additional information






15. Name of contact and telephone number for queries


Toby Nicol,  01582 525339



16. Name and signature of authorised company official responsible for making
this notification


Deborah Woodward, Company Secretary



Date of notification


22 October 2004



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