Disposal, etc

TBI PLC
25 April 2000


Contact:      Keith Brooks, Chief Executive
              TBI plc                                 020 7408 7300           
                       
              David Bick
              Holborn Public Relations                020 7929 5599
                                         [e-mail]


                                  TBI plc

        Sale of Australian airport equity interest for 22% premium 
  
    Swedish Prime Minister backs expansion of Stockholm Skavsta Airport

            European retail deal signed with Alpha Airports



Sale of Australian Equity Interest

TBI plc ('TBI') has sold a 29.1% interest from a total holding of 49% in the
Northern Territory Airports in Australia to National Australia Asset
Management and John Laing Investment Private Limited.

The Northern Territory Airports comprise Darwin International Airport, Alice
Springs Airport and Tennant Creek Airport.  The airport interest was
originally purchased by Airport Group International Holdings ('AGIH') which
TBI acquired last year.

The disposal price of Au$21.65 million (approximately £8.2 million) represents
a 22% premium over the price paid by AGIH when it acquired the airport
interest in June 1998.  TBI's other airport interests in Australia include 16%
of Perth International Airport and 30% of Hobart International Airport.

TBI will continue to hold 19.9% of the Northern Territory Airports and will
continue to be active in the strategic management of the Australian airports.

Swedish Prime Minister backs Skavsta expansion

In interviews given to the broadcast and printed media, Swedish Prime Minister
Goran Persson has backed a greatly expanded Stockholm Skavsta Airport over an
earlier proposal to build a new airport in Sodertorn.

The Prime Minister said that this should also involve the construction of a
new high-speed railway from the centre of Stockholm into Stockholm Skavsta
Airport known as the Nykopings Link, taking passengers just 35 minutes to
travel to and from the airport.

Mr Persson indicated that he expects these proposals to form part of the
Government's legislative Infrastructure Proposition when it is made later this
year or early next year.

New retail deal signed with Alpha Airports

A new five-year retail agreement has been signed with Alpha Airports covering
a total of 20,000 sq ft of retail space at TBI's three European airports:
Belfast International, Cardiff International and Stockholm Skavsta.

The deal follows a competitive tender and the agreement comes into operation
on 1 May.  Previously, Alpha Airports only operated at Belfast International.

Commenting on these developments, Keith Brooks, TBI's Chief Executive, said:

'We are pleased with the premium that we realised on the Northern Territory
Airports.  It demonstrates both the long-term value and the value added since
the acquisition.  The sale is consistent with TBI's group policy of
recirculating capital. We also welcome the experience and synergies that our
new partners bring to the shareholder group.

'When we acquired 90.1% of Skavsta for around £17m in June 1998, we had not
factored in the possibility of it becoming Stockholm's second airport.  The
Prime Minister's comments are therefore very welcome.  A long-term project of
this nature does not bring short-term economic benefits, but we are delighted
that there is now a serious prospect of Skavsta becoming a major asset and
earnings stream for TBI.

'The new retail deal with Alpha shows the benefits of being able to package
the services of a group of airports.  It has allowed us to achieve a
fundamental improvement to the terms compared to previous agreements and also
provides additional benefits to our partner.'