$240m Investment in LutonBase

Ryanair Holdings PLC
22 July 2004


                RYANAIR ANNOUNCES $240M INVESTMENT IN LUTON BASE
        9 NEW EUROPEAN LOW FARE ROUTES WITH 250,000 SEATS FROM JUST £1 !

Ryanair, Europe's No. 1 low fares airline, today (Thursday, 22nd July 2004)
announced a major expansion of its London Luton base with an investment of $240M
in 4 new Boeing 737-800 series aircraft and 9 NEW European routes from London

Luton to:

BARCELONA (GIRONA)                     ESJBERG ROME

BARCELONA (REUS)                       MURCIA STOCKHOLM

DINARD                                 NIMES VENICE

Ryanair, which began services at London Luton in 1986, already operates 14 daily
international flights from Luton to Dublin and Milan, and this year will carry
1.6M passengers to/from Luton, saving consumers over £60M on high fares charged
by Easyjet. This massive increase in routes, destinations and passenger numbers
is also good news for the local economy too, because it will create and sustain
over 1,000 new jobs in the Luton area

Announcing this expansion of its Luton base today, Ryanair's CEO Michael O'Leary
said:

        'Consumers using London Luton airport now have a real low fares airline
        offering fares that are half the price of Easyjet, serving 11
        destinations throughout Europe and delivering unbeatable punctuality,
        and that's Ryanair.

Our message to Easyjet is simple:

      + •Easyjet can't match Ryanair's low fares

      + •Easyjet can't match Ryanair's punctuality


        These new routes, with fares from an incredible £1 (excl. taxes)are
        available for booking right now, at www.ryanair.com, Europe's biggest
        travel website'.

                                              RYANAIR             EASYJET
         PUNCTUALITY 2003*                      81%                 68%
         AVERAGE FARE**                         €40                 €62

*SOURCE - OFFICIAL CAA STATS FOR 2003

** ANNUAL PUBLISHED ACCOUNTS

Ends.                          Thursday, 22nd July 2004

Paul Fitzsimmons - Ryanair     Pauline McAlester - Murray Consultants
Tel: [phone]         Tel: [phone]


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