Press Release

Issued by Plymouth City Airport Ltd.

April 28, 2011

The Sutton Harbour Group today announced that it intends to cease the operation of Plymouth City Airport by the end of 2011. Plymouth City Airport has been loss making for a lengthy period of time and the Board has concluded there is no realistic prospect of trade improving in the near future. Plymouth City Airport Limited, a wholly owned subsidiary of the Company, holds a 150 year lease agreement with Plymouth City Council for the airport (143 years unexpired at a peppercorn rent). The Company will retain the lease following the closure of the airport. In line with its stated intention the Company is focused on waterfront regeneration and developing new opportunities closely related to its core marine and regeneration activities.