Update

Oak Holdings PLC
24 November 2004


                                OAK HOLDINGS PLC
                                     UPDATE

Oak Holdings plc ('the Company'), the AIM listed property development group, has
been awarded an extension by Rotherham Metropolitan Borough Council ('RMBC') to
its Preferred Developer Agreement ('PDA') for a further 12 months to 16 May
2006, in relation to YES!, the proposed major entertainment and leisure scheme
in South Yorkshire.

The 1.25m sq ft YES! Project ('YES!') is located on the site of a former
colliery and will provide significant regeneration benefits for South Yorkshire,
including a projected 3,000 new jobs.  Linked to the adjacent Rother Valley
Park, YES! will enhance this popular established destination.  The site benefits
from excellent transport links, which will be further improved to serve one of
the most accessible attractions in the UK.

Oak Holdings Chief Executive Steve Lewis said: 'The extension of the PDA is a
recognition by our partners, RMBC, of the significant progress made on this most
exciting project, and further indicates the increasing confidence in the scheme
following the formal commitment by three major operators last month.  Clear
Channel Entertainment, Venture Xtreme and TopGolf are all now working closely
with Oak's design team to ensure the facilities are world class.'

YES! will feature a unique blend of all year round leisure and entertainment
attractions unparalleled in the UK.  Set in a spectacular environment, it will
bring South Yorkshire an international attraction of credit both to the region
and to the UK generally.


Contacts:

Steve Lewis               Oak Holdings plc                  Tel: [phone]
Hugo de Salis             St Brides Media & Finance Ltd     Tel: [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange