Proposed Acquisition

TBI PLC
2 August 1999


Contact       Keith Brooks, Chief Executive
              Caroline Price, Finance Director
              TBI plc                                        0171 355 2345

              David Bick / Becky Jewers
              Holborn Public Relations                       0171 929 5599
                                                [e-mail]
                                              [e-mail]


                               TBI plc ('TBI')

        Proposed acquisition of Airport Group International ('AGI')

On 20 May 1999, TBI announced it had entered into a conditional agreement to
acquire all the trading subsidiaries and partnership interests (collectively
known as 'AGI') of Airport Group International Holdings, LLC ('AGIH').

The joint venture agreements in place in relation to Australian Airports
including Perth International Airport and Darwin International Airport, give
AGI and its fellow shareholders certain pre-emption rights.  To ensure that
the pre-emption process does not apply and therefore that AGI retains its
interests in these airports, TBI has agreed with the shareholders of AGIH to
restructure the conditional agreement.  The proposed acquisition of AGI will
now be by way of an acquisition of the entire issued share capital of AGIH. 
The acquisition consideration and all other material elements remain the same.

Legal and accounting due diligence work has proceeded satisfactory and good
progress has been made in obtaining the necessary regulatory approvals.  The
revised timetable agreed with the shareholders of AGIH means that the Circular
setting out the details of the proposed acquisition will be posted to
shareholders this month.