Result of EGM

TBI PLC
19 March 2001

TBI plc ('TBI')


Result of EGM


The board of TBI announces that at the Extraordinary General Meeting of the
Company held earlier today, the resolutions proposed at the meeting approving,
inter alia, the Acquisition of up to a further 65 per cent. of London Luton
Airport Group Limited ('LLAG') and associated LLAG Loan Notes, were duly
passed.


As set out in the Circular to Shareholders dated 28 February 2001, Bechtel, an
existing 10 per cent. shareholder in LLAG, has pre-emption rights which, if
exercised in full, would result in Bechtel having a resultant shareholding in
LLAG of 28.6 per cent. Bechtel are required to give notification of their
intention to exercise by 5.00 p.m. today.


Admission to the Official List of the UK Listing Authority and admission to
trading on the main market of the London Stock Exchange of the new ordinary
shares issued in connection with the Vendor Placing (which will rank pari
passu in all respects with the Ordinary Shares currently in issue other than
the right to any final dividend which may be declared in respect of the year
ending 31 March 2001) is expected to become effective on 21 March 2001.


For further enquiries:


TBI 020 7408 7300

Keith Brooks, Chief Executive

Caroline Price, Finance Director


Credit Lyonnais Securities - Financial adviser and Sponsor 020 7588 4000

Simon Bennett (Director)

David Hart (Director)


Hoare Govett Limited - Stockbroker 020 7678 8000

Will Coleman (Director)


Buchanan Communications 020 7466 5000

Charles Ryland (Director)


19 March 2001


END