Disposal

TBI PLC
27 October 2004



                                    TBI plc

                             ('TBI' or 'the Group')



                Disposal of Airport Group International ('AGI')


TBI plc is pleased to announce the completion of the sale of AGI, its airport
services business in the United States, for approximately $24 million (£13.3
million).

The purchaser is BBA Group PLC, the international aviation and materials
technology company.  The cash consideration, which is on a debt and cash free
basis, is subject to the subsequent determination of certain balance sheet items
at the date of completion.

In the year ended 31 March 2004, AGI generated turnover of US$43.4 million
(£25.6 million), earnings before depreciation, amortisation, interest, taxation
and exceptional items of US$2.4 million (£1.5 million) and earnings before
amortisation, interest and taxation of US$0.9 million (£0.5 million).

The net assets of the airport services business at the date of completion are
anticipated to be some US$17.0 million (£9.4 million) dependent upon the
subsequent determination of certain balance sheet items referred to above. The
profit on disposal, after disposal-related costs, is expected to be
approximately US$5.0 million (£2.8 million). The sale proceeds will be used to
reduce Group borrowings and to fund investment in the Group's core airport
assets as opportunities arise.

Commenting on the disposal, Keith Brooks, Chief Executive of TBI said:

'I am delighted to announce the conclusion of the AGI disposal at this level
which reflects the opportunities that the airports services business presents to
operators within the sector.  This is a timely conclusion to our stated
intention to divest of this non core business and has been achieved both ahead
of schedule and at a premium.  This is an excellent result for TBI both in
timing and value terms.'


Note

The exchange rate used for £:US$ is 1.80 for both 31 March 2004 and the date of
completion.


                                                                 27 October 2004




Enquiries:

TBI plc                                                     Tel: [phone]
Keith Brooks, Chief Executive
Caroline Price, Finance Director

College Hill                                                Tel: [phone]
Justine Warren
Tom Baldock






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