Shareholder Loyalty Scheme

Minoan Group PLC
05 November 2007


                                MINOAN GROUP PLC
                          ('Minoan' or 'the Company')

                    NEW, ENHANCED SHAREHOLDER LOYALTY SCHEME

The Board of Minoan, the AIM quoted leisure resort developer, announces a new,
enhanced shareholder loyalty scheme. This replaces the existing scheme and gives
improved benefits to reward long term shareholders in the Company.

HIGHLIGHTS

   •Scheme beneficially rewards longer term shareholders giving discounts on
    properties

   •£20,000 discount (previously £4,000) on 2 bedroom apartments dependent on
    shareholding

   •£175,000 discount (previously £125,000) on 4/5 bedroom coastal village
    villas for those with 500,000 or more shares

   •Major incentive to acquire a property as scheme will only be in operation
    for a limited period

This scheme, which applies retrospectively to existing shareholders as well as
for new shareholders, means that discounts on a range of properties are even
more attractive both in terms of the size of an investor's shareholding and the
duration of that investment (for the full table please see below).

The rules of the scheme mean that properties bought under the scheme may not be
disposed of within 12 months following completion. Thereafter properties may be
disposed of as the holders wish and they will be able to take advantage of any
'disposal scheme' operated by the Company.

In order to utilise the discount the shareholder must still hold the required
level of shares in Minoan at the time of commitment and such shares must have
been held for a minimum of 12 months to qualify.

Commenting on the new loyalty scheme, Executive Chairman, Christopher Egleton
said:

'We are delighted to be able to offer this new scheme as a reward to all of our
shareholders, particularly those who have remained so loyal for so many years,
as we move closer to the development of the Cavo Sidero site. We also hope that
this will incentivise newer shareholders to keep their holding as well, in order
to take advantage of the changes.'

For further information visit www.minoangroup.com or contact:

Christopher Egleton          Minoan Group Plc                       07808 722022 

Bill Cole                    Minoan Group Plc                       01689 897397

Jeremy Garrett-Cox           Seymour Pierce                        020 7107 8024

Nick Rome/Nick Farmer        Bishopsgate Communications Ltd        020 7562 3350

Alan Frame                   Westport Communications Ltd           020 7404 7878

Notes to Editors:

Minoan
Minoan, through its subsidiary Loyalward Limited, plans to create Cavo Sidero as
a sustainable development. It will be the finest exclusive holiday destination
in the eastern Mediterranean. This unique luxury resort will comprise five well
spaced villages set in a protected natural environment on a 26 sq km peninsula
site in north east Crete.

The Cavo Sidero scheme will comprise five low-density clusters of luxury hotels,
villas, townhouses and apartments, all with access to extensive sports,
entertainment, restaurant and retail amenities.

Shareholder Loyalty Scheme

   Shares Held            1Year      3 Years
    From        To     Discount     Discount   Unit Type
  number    number        Value        Value
                              £            £

   5,000     9,999        7,500       15,000   2 bedroom apartment
  10,000    19,999       10,000       20,000   2 bedroom apartment
  20,000    29,999       15,000       25,000   2-3 bedroom apartment
  30,000    44,999       20,000       35,000   3 bedroom apartment
  45,000    64,999       25,000       42,500   3 bedroom apartment/2-3 bedroom
                                               townhouse
  65,000    99,999       30,000       50,000   3 bedroom apartment/2-3 bedroom
                                               townhouse
 100,000   199,999       35,000       70,000   Townhouse/3 bedroom villa
 200,000   299,999       60,000      100,000   3 bedroom premium/4 bedroom
                                               villa
 300,000   399,999       85,000      125,000   3 bedroom premium/4 bedroom
                                               villa
 400,000   499,999      110,000      150,000   4 bedroom coastal village villa
 500,000   plus         135,000      175,000   4/5 bedroom coastal village
                                               villa

Rules of the scheme - summary

1. Shares must have been held for a minimum of 12 or 36 months in order to
qualify for the relevant discounts.

2. Shares must still be held at the time the discount is utilised.

3. Company will notify shareholders of their discount entitlements and when the
relevant property is available. Shareholders must then utilise their discounts
within 6 months of receiving such notification.

4. Any property acquired under the terms of the Scheme may not be disposed of
within 12 months of the completion of the acquisition. Thereafter the
shareholder may dispose of the property or take advantage of any 'disposal
scheme' operated or put in place by the Company.

5. The Scheme will be in operation for a limited period.

6. The Directors reserve the right terminate or amend the Scheme in any way they
deem appropriate.

For the full Scheme Rules please see www.minoangroup.com

                                   ---ENDS---

5 November 2007

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            The company news service from the London Stock Exchange