AGM Statement

TBI PLC
30 July 2004

TBI plc

('TBI' or 'the Group')

AGM Statement


TBI, the regional airports operator, is holding its AGM today at 12 noon.  At
the meeting, G Stanley Thomas, Chairman, made the following comments to 
shareholders:


'The current year has got off to a positive start and trading remains in line
with the Board's expectations against the background of a continued challenging
environment for both our airline customers and for airport operators generally.


'Total passenger numbers from our core European airports have continued to grow
in the first quarter across all three passenger groups, full service, charter
and low cost, predominantly driven by low cost. Traffic across the total Group,
including our American airports, was 4.9m in the first quarter, 11% higher than
last year. This trend has continued throughout July.


'TBI remains at the forefront of the growth in budget air travel and continues
to attract additional low cost traffic to domestic and European destinations.
Last week saw announcements from easyJet and Ryanair in which both low cost
operators committed to significant expansion of their respective services out of
London Luton. easyJet will  increase its capacity by 25% by adding three new
aircraft and similarly Ryanair will add four new aircraft and nine new routes.
Such substantial expansion at London Luton is particularly pleasing and is clear
recognition of this airport's current and future potential.  The benefit of the
extra volumes will be realised in 2006.


'As announced on Monday, 26 July, MyTravel's continuing restructuring will
result in reductions to its network at several UK airports including Cardiff
International.  Unless replaced by other capacity this would result, in 2005/6,
in a 10% reduction in Cardiff's passenger numbers. Our team at Cardiff
International is already making good progress in this regard.


'Recently, the Board highlighted its intention to dispose of the Group's non
core airport assets in Bolivia and its airport services business in the US.
Advisers have been instructed to facilitate the divestment of the Group's
Bolivian operations and this process is now underway.  Similarly, the sales
process for the US airport services business is progressing and we are now in
receipt of indicative bids from interested parties.


'TBI has entered the current year on a sound footing to move the business
forward and the Board remains optimistic about the future for the Group.'


                                                                    30 July 2004

Enquiries:

TBI plc                                                        020 7408 7300
    Keith Brooks, Chief Executive
    Caroline Price, Finance Director

College Hill                                                   020 7457 2020
    Justine Warren





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