AGM Statement

Sutton Harbour Holdings PLC
11 July 2007


                          SUTTON HARBOUR HOLDINGS PLC

                                 AGM Statement


Over the last few years, your company has set clear objectives to grow profits
through the development of its transport and regeneration sectors, whilst
managing risks inherent in both of these activities. We have delivered year on
year growth by following this strategy and your Company is making good progress
this year towards its targets.


I am pleased to report the following project update:


   •The Boatyard project is agreed, subject to contract, with a major
    national developer and is subject to a lease agreement with the BBC for the
    commercial space. The site is currently being cleared in preparation for
    contractors who expect to begin work this Autumn.


   •We have received planning permission for 40,000 sq ft of commercial space
    on another Sutton Harbour site that the Group owns known as Salt Quay. It
    has been our strategy to build our portfolio of commercial tenants and we
    are delighted that this office is reserved by a major west country firm in
    the professional service sector.


   •We are awaiting the outcomes of a number of bids for other projects in
    the region where we are already shortlisted or preferred bidder.


We are currently in detailed and complex discussions with Plymouth City Council,
the freeholder of Plymouth City Airport, which we hope to conclude soon. We are
confident that the outcome of these discussions will prove positive for our
shareholders and for the City of Plymouth.


After the industry difficulties of last year, Air Southwest has performed
steadily over recent months. We have altered our schedules and we are
concentrating on our core routes and ad hoc charter work. I am pleased to report
that our passenger numbers on the Newquay-Gatwick route remain buoyant despite
the new competition.


Around Sutton Harbour there is no shortage of activity. We have completed
further improvements to our marina to upgrade customer facilities and have made
changes to berthing layouts to meet demand. Fishing has been good
notwithstanding the bad run of weather during June. We have been preparing for
the disruption during the lock gates refit and we will be providing interim
facilities for some vessels to discharge outside the harbour. The works, due to
commence this September and run until January 2008, will mean that the lock will
be closed intermittently although open during tidal freeflow periods.


Your company is at the advanced stage of bringing several new projects to
fruition and there is plenty in the pipeline to follow on. As I step down as
Chairman, I see your Company well placed to maximise its opportunities and to be
confident of its future.


Ellen Winser
Chairman


Enquiries:


Nigel Godefroy

Group Managing Director

Sutton Harbour Holdings PLC                     01752 204 186


Paul Van

Winningtons                                     0117 920 0092


Tim Worlledge

Evolution Securities Ltd                         020 7071 4300




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