A very positive meeting took place yesterday between representatives of Brighton & Hove City Council, Worthing Borough Council and Albemarle Investment Syndicates.

Albemarle made it clear that they were committed to the regeneration of Shoreham Airport in accordance with our original vision for the site.

But as landlords we have to go through all the relevant legal and financial processes with Albemarle to make absolutely sure that the deal is sound.

All parties are working flat out to make this deal happen and secure the long term future of the airport.

We hope that councillors from both Brighton & Hove and Worthing will be in a position to formally consider the transaction in mid-May.

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Brighton & Hove's lead councillor for major projects, Garry Peltzer Dunn, said: It's important that the relevant legal and financial processes are followed. But following yesterdays meeting I am optimistic that the regeneration of the airport that we have been waiting for will be delivered.

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Worthing Borough Councillor Paul Yallop said: I am very hopeful that if a deal can be concluded it will be the start of a new and exciting chapter in the long and distinguished history of Shoreham Airport.

15th April 2008

Erinaceous Group plc (in Administration) has today sold its interest in Shoreham Airport to Albemarle Shoreham Airport Limited.

Albemarle Investment Syndicates already owns the commercial properties at Shoreham and the acquisition reunites the Airport into single control.

Albemarle remains commited to the regeneration of the Airport in accordance with the vision of the joint owning Councils when the Airport was originally sold in June 2006.

The Airport re opens for business immediately and we are delighted that this has taken place within a day of the Administration.

John Haffenden

Airport Manager

Shoreham Airport.

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