Re Contract - Replacement

Sutton Harbour Holdings PLC
24 February 2003



The 'Re Contract' announcement released today at 10:23 under RNS No 8532H,
should have been issued under the Company name of Sutton Harbour Holdings plc
and not under the Company name of Surface Technology.

The announcement text is unchanged and is reproduced in full below.





                          Sutton Harbour Holdings plc



           Sutton Harbour Holdings: Newquay Cornwall Airport contract



We have been informed that the contract to operate Newquay Cornwall Airport from
1st April 2003 has been awarded to Serco Group plc rather than ourselves,
following a process of competitive tender. This means that our existing contract
to operate the airport, which we have done since April 2000 as a consequence of
our acquisition of Plymouth City Airport, will cease on 31st March this year.
We will work with Serco to ensure a smooth transition of staff and services.



In announcing the decision Pam Lyne, chairman of the Newquay Cornwall Airport
Joint Committee had this to say, 'Sutton Harbour has been involved with Newquay
Cornwall International Airport during a key period in its growth.  The airport's
remarkable expansion of facilities, operators and passenger numbers is, no
doubt, partly due to Sutton's reputation as professional managers and a leading
regional company, and for that rewarding partnership Restormel Borough Council
and Cornwall County Council have been extremely grateful.'



The contribution made by Newquay Cornwall Airport to Group results was small,
£34,000 in the year to 31st March 2002, and we did think twice before deciding
to bid for the management contract again.  Nevertheless it is disappointing not
to be chosen, not least because it means we have to say goodbye to our staff at
Newquay who have worked so hard and well for us in the years we have been
involved there.



Ellen Winser, Chairman Sutton Harbour Holdings plc.


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