Re Agreement

TBI PLC
easyJet PLC
29 October 2001

Embargoed until 7.00 a.m.                       29 October 2001





                           easyJet plc and TBI plc



                 JOINT STATEMENT RE. NEW COMMERCIAL AGREEMENT

                           AT LONDON LUTON AIRPORT



easyJet and TBI are pleased to announce that easyJet and London Luton Airport
have entered into a new long term airport service agreement at London Luton
Airport, with effect retrospectively from 1 October 2001.



The parties have agreed the terms of the airline's use of London Luton Airport
for the next 20 years, including landing charges for existing easyJet traffic
volumes at a similar level to those currently enjoyed, for the duration of the
new contract.  In addition the agreement offers a reduced landing charge for
any growth in traffic as a way of incentivising easyJet to increase passenger
numbers.  Part of the agreement between the parties relates to operational
service levels, which the parties believe will enhance the operational
effectiveness of London Luton Airport, which, in turn, will lead to an
improvement in easyJet's cost base.



Both parties are continuing negotiations with regard to the level of future
growth.  These negotiations include improvements to road access and
development of airport infrastructure in relation to which easyJet, London
Luton Airport and Luton Borough Council are holding continuing discussions.
The parties are optimistic that opportunities can be created that provide for
significant expansion of London Luton Airport although no announcement is
expected for some months.



Ray Webster, easyJet Chief Executive said:



'I am delighted that we have finalised a new long term contract with TBI and
London Luton Airport.  This announcement gives us certainty over our
operations from London Luton Airport.'



Keith Brooks, TBI Chief Executive said:



'We are delighted to have a long term agreement with easyJet at London Luton
Airport and all parties continue to work towards a mutually beneficial
agreement to build the infrastructure at London Luton Airport to confirm its
status as London's fourth airport.'





For further information, please contact:


easyJet plc                                       01582 525 339
Toby Nicol

TBI plc                                           020 7408 7300
Keith Brooks
Caroline Price

Buchanan Communications                           020 7466 5000
Charles Ryland
Nicola Cronk