Release of Special Reserve

RNS Number:3942D
Alpha Airports Group PLC
28 September 2004




                            Alpha Airports Group Plc

                                (the "Company")


Alpha Airports Group Plc, the UK's leading provider of catering and retailing
services for airlines and airports, today announces that it has released to
distributable reserves the sum of #152 million previously retained as a 'special
reserve' in the audited accounts of the Company, thereby increasing the
distributable reserves of the Company by this amount. As at 31 January 2004
distributable reserves of the Company were #3.2 million.

This "special reserve" was created in March 1994 as a result of a capital
reduction following the flotation of the Group in January 1994. It is a standard
requirement in such cases for the protection of creditors that the 'special
reserve' does not form part of the Company's distributable profits until certain
conditions no longer apply. The Group has today satisfied itself that no such
conditions exist and the Board has agreed the reserve should now be treated as
distributable.


Commenting on this today Kevin Abbott, Chief Executive, said:


"As we announced at the time of our interim results, we are seeing an exciting
number of opportunities to build and grow the business. Although Alpha has a
healthy balance sheet, the release of this reserve improves the capital
structure of the business and gives us more flexibility going forward."


Enquiries:

Alpha Airports Group Plc
Kevin Abbott, Chief Executive
Heather McRae, Finance Director                   Tel: [phone]

Gavin Anderson & Company
Laura Hickman / Tom Siveyer                       Tel: [phone]

Website: www.alpha-group.com










                      This information is provided by RNS
            The company news service from the London Stock Exchange

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