AGM Statement

Oak Holdings PLC
19 May 2005


19 May 2005

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

                                 AGM STATEMENT


Oak Holdings plc, the AIM-listed property development company, held its Annual
General Meeting today where all resolutions were duly passed.  Chairman Malcolm
Savage made the following statement:

'The Directors are pleased with the Company's progress and remain confident in
its two-pronged strategy of developing major property projects while at the same
time utilising its highly experienced management to offer exclusive property
advisory services.

'With regard to the YES! Project in South Yorkshire we have appointed the
consultant team including CZWG Holder Mathias as lead architects. They have
produced an innovative design which has formed the basis of our Outline Planning
Application which was submitted to RBMC on 31 January 2005. The Local Authority
has agreed an extension to the Preferred Development Agreement which runs until
May 2006. We are now, in concert with the Local Authority, actively negotiating
with adjoining authorities and other consultees in an effort to secure consent
as quickly as possible. At the same time we are in discussions with a number of
other potential tenants who are showing strong interest to the proposal. With
political and local support for the project strengthening and with a healthy
cash position following a £1.1 million placing last month, we are looking
forward to taking this £270 million scheme into its next phase and enhancing its
value significantly.

'We are also making good progress on the property consultancy side of the
business where active discussions are taking place on a variety of projects in
the UK and overseas that we believe suit our development credentials and which
have the potential to create significant returns for our shareholders. In these
cases the Company's policy is to conserve capital by negotiating a consultancy
appointment but wherever possible to include some form of success-based equity
participation. 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.

'The Company is also pleased to announce that the small marina development site
at Great Haywood has been sold at auction for £126,000.  This is at the level at
which this asset was being carried in the Company's accounts.'


                                  * * ENDS* *


Issued on behalf of Oak Holdings plc by St Brides Media & Finance Ltd, 46
Bedford Row, London WC1R 4LR

Contacts:

Steve Lewis                  Oak Holdings plc                Tel: [phone]

Hugo de Salis               St Brides Media & Finance Ltd    Tel: [phone]





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