PRESS RELEASE

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GRANT OF WARRANT TO SUBSCRIBE FOR NEW SHARES TO STRATEGIC CONSULTANT

Oak Holdings plc, the AIM listed property development and consultancy group, has today granted to David Taylor Partnerships Limited (“DTP”) a warrant to subscribe for 4,500,000 new ordinary shares of 1 pence each in the Company. These are exercisable at a price of 2 pence per share at any time between receiving a planning consent that can be implemented in respect of the Group's Yes! Project and 31 December 2007.

DTP, headed by David Taylor, one of the UK's leading development management consultants engaged in regeneration projects, has been acting for the Company in connection with the Yes! Project, its major leisure and entertainment scheme in South Yorkshire. DTP has agreed to invoice only a small proportion of its normal level of fees and as such the Company has agreed that DTP will invoice a success fee when Oak receives the planning consent which can be implemented for the Yes! Project. Such success fee will be wholly satisfied by the issue of the warrants which will become exercisable upon the grant of such planning consent.

Oak Chief Executive Steve Lewis said: “In recognition of DTP's significant contribution to the project and its belief in both the commercial and regeneration merits of project, the Board considered it appropriate to entitle DTP to participate in the increase in value which planning consent should create for all shareholders.”

The planning process is continuing to move forward satisfactorily and the Company is optimistic about being able to report the outcome of the planning application in the near future.

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