71HQ Morgan St.27

RNS No 1488w
TBI FINANCE PLC
1 June 1999


                     TBI Finance PLC ("the Company")

                  Early redemption of the 83/4 per cent.
            First Mortgage Debenture Stock 2019 (the "Stock")


TBI Finance plc is pleased to announce that at the Extraordinary General
Meeting of TBI plc held earlier today, the resolution to dispose of the
Property Business of that company (as defined in the circular dated 13 May
1999) was duly passed.

In accordance with the expected timetable contained in the circular,
completion of the disposal of the Property Business and the redemption of the
Stock is still expected to take place on 21 June 1999.

In the event of completion not taking place by 27 June 1999, the proposed
redemption and release of security will not take place and the Stock will
remain outstanding as at present.


END

RSENFXKFEAPNEFN

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