Quarterly Traffic Statistics

TBI PLC
07 July 2003


                                     TBI PLC
                             ('TBI' or 'the Group')

                   Initiation of Quarterly Traffic Statistics


TBI's four European airports* handled a total of 3.6 million passengers during
the period from 1 April to 30 June 2003, an increase of 19.5% over the
corresponding period last year (2002: 3.0 million).

Low cost traffic led the growth across the portfolio increasing by 37.1% to 2.6
million passengers, while full service fell to 233,600 passengers in line with
expectations and charter reduced marginally by 2.1% to 791,300 passengers. The
charter figures are particularly respectable given the pressures facing this
market during the period under review including the Gulf War and the weakening
pound.

On an airport-by-airport basis all of the Group's core airport locations saw
passenger growth of over 8%. Cardiff and Stockholm saw the greatest growth of
35.6% and 260.5% respectively primarily through bmibaby's establishment of its
second UK base at Cardiff and Ryanair launching its Scandinavian base at
Stockholm-Skavsta.


Nb:     TBI's European airports constitute:
        London Luton, Belfast International, Cardiff International and Stockholm-Skavsta



                                                                     7 July 2003


ENQUIRIES:

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

College Hill                                      Tel: [phone]
Justine Warren
Gareth David






APPENDIX


TBI Traffic Summary:



Pax Numbers     1 April - 30 June 2003
(000's)
                     Luton      Belfast     Cardiff       Skavsta       Total

Full service         181.9          2.1        48.3           1.3       233.6
                     32.48%     -98.08%     -35.25%       -81.80%     -28.56%
Low cost            1350.9        756.5       202.1         282.7      2592.2
                     13.58%       23.59%    1022.78%       297.03%      37.10%
Charter              244.4        254.6       292.3             0       791.3
                   -14.58%        18.64%     -4.97%      -100.00%      -2.13%
        Total       1777.2       1013.2       542.7         284.0      3617.1
                     10.19%        8.43%      35.61%       260.45%      19.53%

Pax numbers     1 April - 30 June 2002
(000's)
                    Luton       Belfast      Cardiff      Skavsta       Total

Full service        137.3         107.7         74.6          7.4       327.0
Low cost           1189.4         612.1         18.0         71.2      1890.7
Charter             286.1         214.6        307.6          0.2       808.5
Total              1612.8         934.4        400.2         78.8      3026.2



END



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