Stockholm Skavsta Airport

TBI PLC
28 January 2003



                                   TBI PLC

     Stockholm Skavsta Airport confirmed as new European base for Ryanair:
             1.5 million passengers a year through Skavsta in 2003


TBI plc, the owner and operator of regional airports, welcomes today's
announcement from Ryanair confirming its selection of Stockholm Skavsta Airport
as its latest continental European hub.

Ryanair announced that from 4 April 2003 it will allocate up to four aircraft to
its new base in Stockholm, operating over 30 flights each day from Stockholm on
six new international routes to Aarhus, Glasgow, Hamburg, Paris, Oslo and
Tampere (Finland) - in addition to its successful existing routes to London and
Frankfurt.

This new Scandinavian base will result in the creation of over 200 new jobs in
Stockholm and will result in over 1.5 million passengers being carried through
Stockholm Skavsta in the first year of this new base.

Commenting on today's announcement, Keith Brooks, Chief Executive of TBI plc
said:

'I am delighted that Ryanair has selected Stockholm Skavsta Airport to be its
next hub.  There was clearly strong competition from other continental European
airports to win the award of this base, as the commercial potential is
significant.

'This partnership is a significant step forward for both Stockholm Skavsta
Airport and TBI plc. We see potential for passenger numbers to grow to three
million per annum, firmly establishing Skavsta as Stockholm's second airport.'


                                                                 28 January 2003


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