Rule 8.3 - Alpha Airports Group Plc

    


Arnhold and S. Bleichroeder Advisers, LLC



                                    FORM 8.3

    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE

                         (Rule 8.3 of the Takeover Code)

1. KEY INFORMATION

Name of person dealing (Note 1)                    Arnhold and S. Bleichroeder Advisers, LLC
-------------------------------------------------- -------------------------------------------------------
Company dealt in                                   Alpha Airports Group PLC
-------------------------------------------------- -------------------------------------------------------
Class of relevant security to which the dealings   Common Stock
being disclosed relate (Note 2)
-------------------------------------------------- -------------------------------------------------------
Date of dealing                                    June 5, 2007
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2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a) Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)

                                                            Long                           Short
----------------------------------------------- ---------------------------- ---------------------------------
                                                Number                   (%) Number                        (%)
----------------------------------------------- ---------------------------- ---------------------------------
(1) Relevant securities
----------------------------------------------- ---------------------------- ---------------------------------
(2) Derivatives (other than options)            2,688,078           (1.527%)
----------------------------------------------- ---------------------------- ---------------------------------
(3) Options and agreements to purchase/sell
----------------------------------------------- ---------------------------- ---------------------------------
Total                                           2,688,078           (1.527%)
----------------------------------------------- ---------------------------- ---------------------------------

(b) Interests and short positions in relevant securities of the company, other
than the class dealt in (Note 3)

Class of relevant security:                                Long                           Short
----------------------------------------------- --------------------------- ---------------------------------
                                                Number                  (%) Number                        (%)
----------------------------------------------- --------------------------- ---------------------------------
(1) Relevant securities
----------------------------------------------- --------------------------- ---------------------------------
(2) Derivatives (other than options)
----------------------------------------------- --------------------------- ---------------------------------
(3) Options and agreements to purchase/sell
----------------------------------------------- --------------------------- ---------------------------------
Total
----------------------------------------------- --------------------------- ---------------------------------

(c) Rights to subscribe (Note 3)

Class of relevant security:                Details
------------------------------------------ ---------------------------------------------------------------

------------------------------------------ ---------------------------------------------------------------

3. DEALINGS (Note 4)

(a) Purchases and sales

Purchase/sale                       Number of securities               Price per unit (Note 5)
----------------------------------- ---------------------------------- ------------------------------------

----------------------------------- ---------------------------------- ------------------------------------

(b) Derivatives transactions (other than options)

Product name,        Long/short (Note 6)     Number of securities (Note 7)    Price per unit (Note 5)
e.g. CFD
-------------------- ----------------------- -------------------------------- -----------------------------
CFD                  Long                    56,000                           £1.09
-------------------- ----------------------- -------------------------------- -----------------------------

(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying

Product name,     Writing, selling,   Number of securities Exercise Type, e.g.        Expiry   Option money
e.g. call option  purchasing,         to which the option  price    American,         date     paid/received
                  varying etc.        relates (Note 7)              European etc.              per unit (Note 5)
----------------- ------------------- -------------------- -------- ----------------- -------- ------------------

----------------- ------------------- -------------------- -------- ----------------- -------- ------------------

(ii) Exercising

Product name, e.g. call option      Number of securities               Exercise price per unit (Note 5)
----------------------------------- ---------------------------------- ------------------------------------

----------------------------------- ---------------------------------- ------------------------------------

(d) Other dealings (including new securities) (Note 4)

Nature of transaction (Note 8)      Details                            Price per unit (if applicable)(Note 5)
----------------------------------- ---------------------------------- ----------------------------------------------

----------------------------------- ---------------------------------- ----------------------------------------------

4. OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives

Full details of any agreement, arrangement or understanding between the person disclosing and any other
person relating to the voting rights of any relevant securities under any option referred to on this
form or relating to the voting rights or future acquisition or disposal of any relevant securities to
which any derivative referred to on this form is referenced. If none, this should be stated.
---------------------------------------------------------------------------------------------------------
None.
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Is a Supplemental Form 8 attached? (Note 9)                        NO

Date of disclosure                                                     June 6, 2007
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Contact name                                                           Hayley Nelson
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Telephone number                                                       [phone]
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If a connected EFM, name of offeree/offeror with which connected
---------------------------------------------------------------------- -----------------------------------
If a connected EFM, state nature of connection (Note 10)
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Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk