Further re joint venture

RNS Number:5853P
Watermark Group PLC
10 September 2003

Strictly embargoed until: 07.00, 10 September 2003


                    WATERMARK JOINT VENTURE WITH AEROBOX


Watermark Group plc ("Watermark"), the provider of marketing support services to
the international travel industry, announces that it has on 3 September
completed the terms of the joint venture with AeroBox plc ("AeroBox").  Heads of
Terms in relation to these proposals were announced on 21 May.


As previously announced, Watermark and AeroBox have formed a joint venture
company (in which each has a 50% share) to market and supply worldwide the
lightweight and durable airfreight containers produced by AeroBox.  Watermark is
providing its global marketing expertise in support of the joint venture.


Under the Agreement, Watermark will receive a sales commission and marketing fee
and will have the right to exchange (after a period of twelve months) its
interest in the joint venture company at no further consideration, in return for
new shares in AeroBox representing 10% of AeroBox's enlarged share capital.
Watermark is also entitled to an additional 2.5% of AeroBox's enlarged share
capital (again at no further consideration) depending on the joint venture
company meeting performance targets.  Watermark is confident of the joint
venture company meeting those targets based upon serious initial interest
generated by Watermark with several of its airline clients.


The ordinary shares in AeroBox have been admitted to AIM.  The company had a
market capitalisation of approximately #19m on 3 September.


For further information please contact:
John Caulcutt, Chief Executive                         Rosie Brown
Crispin Quail, Finance Director                        John West
Watermark Group plc                                    Tavistock Communications
Tel: [phone]                                      Tel: [phone]
e-mail: [e-mail]                        e-mail: [e-mail]





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


END

FURSSLFAUSDSESU