New Consultancy Contract

Oak Holdings PLC
30 April 2004

30 April 2004



                    Oak Holdings plc ('Oak' or 'the Company)
                OAK REACHES FIRST PROPERTY CONSULTANCY AGREEMENT

The newly created consultancy service set up by AIM listed property development
group Oak Holdings plc has signed its first contract to manage the property
portfolio of a significant overseas investor. Although the terms of the deal
remain confidential, the Company believes that the consultancy service will be a
significant income generator and revenue driver for the Group. Income is
expected to begin arising from the contract in the current financial year. Oak
is marketing the service to targeted individuals and organisations that require
discreet professional advice on optimising their property assets.

Oak Chief Executive Stephen Lewis said: 'Our clients are looking for and expect
total discretion in the selection and management of their assets which can run
into many millions of pounds.  We anticipate that the contract we have just
entered into will form the basis of a growing source of income for the group.'

Oak is marketing itself as a fully independent 'bolt on property company' with
no agency links. The services it offers include project consultancy and
development appraisal, risk analysis, advice on valuation procurement, financial
engineering and insurance.

Oak has an experienced team with a cumulative total of over 75 years experience
working on major development projects.  Chairman Malcolm Savage spent 22 years
with St Martins Property Corporation, the property company owned by the state of
Kuwait where he was responsible for London Bridge City, Windmill Hill Business
Park, Swindon and Tour Manhattan Paris among many others.  Stephen Lewis, who
was also at St Martins then moved on to be responsible for Castle Mall, Norwich,
Heron City Projects in Europe and Allied Irish Bank in Uxbridge in addition to
several leisure schemes throughout Europe.

Oak Chairman Malcolm Savage said: 'We have always said that we wanted to develop
Oak into a broadly based property group. We are looking at a number of
opportunities both internationally and in the UK.  The new consultancy service
is a valuable additional income stream for the business. We feel the contract we
have just won will prove to be of considerable value to shareholders.'

Oak listed on AIM in December 2003 following its reversal into the former canal
boat operator AWG Services.

Contacts:

Hugo de Salis       St Brides Media & Finance Ltd            Tel:  [phone]
Tony Rawlinson      City Financial Associates                Tel:  [phone]


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