Clarification Statement

TBI PLC
17 August 2001


  (Not for release, publication or distribution in or into the United States,
                          Canada, Australia or Japan)
                                                                              
                     Statement from TBI plc ('TBI')

In response to recent newspaper articles reporting comments attributed to the
Board of TBI, the Board would like to clarify that nothing within the articles
represented, or should be construed as, an asset valuation or a forecast as
defined in Rules 28 and 29 of the City Code on Take-overs and Mergers.  No
reliance should be placed on any figures relating to asset valuations or
forecasts contained in the articles.

The Board hopes that this clarifies any misunderstandings that might have
arisen as a result of earlier reported comments.

A circular containing the Board's response and reasons for its rejection of
the offer will be posted to shareholders once Vinci S.A. has published its
formal offer document.

The Board, which is being advised by ABN AMRO Corporate Finance Limited,
believes that the unsolicited offer does not reflect the underlying value of
the assets of the Group.

Press enquiries:

Charles Ryland          Buchanan Communications            020 7466 5000