Acquisition & Trading Update

RNS Number:6473B
Alpha Airports Group PLC
05 August 2004

5 August 2004


                          ALPHA AIRPORTS GROUP PLC
         FURTHER INVESTMENT IN ITALY AND UPDATE ON CURRENT TRADING



Alpha Airports Group Plc is pleased to announce a further investment in its
Italian associate company, Servair AirChef Srl. Our initial investment, made in
February 2001, represented our first joint investment with our major
shareholder, Servair, and resulted in a 25% holding each by both Alpha Airports
Group and Servair. Under the terms of the original investment, a put option has
been exercised which resulted in both Alpha Airports Group and Servair each
purchasing a further 25% stake. The cash consideration payable by Alpha Airports
Group for this further 25% investment is #2.9m.

Servair AirChef Srl is an airline caterer in Italy providing services at 24
airports including Milan Malpensa, Milan Linate, Rome Fiumicino, Rome Ciampino,
Naples, Pisa, Venice, Verona, Florence and Palermo. It also operates 19 retail
catering (bars and/or restaurant) facilities at 5 airports in Italy including
Pisa, Bergamo and Genoa.

In the year ended 31 December 2003, Servair Airchef Srl reported sales of
#34.8m, a profit before taxation of #1.6m and has net assets of #2.0m.


Current Trading

Alpha Airports Group is planning to announce its interim results on Thursday 23
September 2004. In the period since our AGM statement on 3 June, the trend of
year on year increased sales growth has continued and the Board's expectation on
trading remains unchanged.




Commenting on the Group's increased investment in its Italian associate, Kevin
Abbott, Chief Executive said:

"We have been delighted with the performance and growth of Servair Airchef since
our original investment. It's a very well run business, offering exceptional and
innovative service quality to airlines and airports alike. Over the past 4
years, Servair Airchef has extended its presence from 11 Italian cities in 2001
to today's 24, with sales doubled and pre-tax profits up 139%, and with exciting
prospects for ongoing growth."


Enquiries:

Alpha Airports Group Plc
Heather McRae, Finance Director                   Tel: [phone]

Gavin Anderson & Company
Laura Hickman                                     Tel: [phone]
Website: www.alpha-group.com


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            The company news service from the London Stock Exchange

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