ARX Aerobox

RNS Number:1625Z
Watermark Group PLC
27 May 2004

For immediate release 27 May 2004





                Watermark Group plc ("Watermark or the Company")


                          Agreements with Aerobox plc





Watermark announces today, 27 May 2004, that it has served a notice for breach
of contract on Aerobox plc in connection with the contracts entered into on 3
September 2003.  This requires Aerobox plc to remedy a number of significant
breaches and misrepresentations under the agreement relating to the production
of cargo ULD's for aircraft.



For the avoidance of doubt, no current or future income revenue contributions
from Aerobox plc have been factored into any 2004 or future projections produced
by the Company.  Nor has there been any valuation reflected in the Company's
balance sheet in relation to its rights for equity in Aerobox plc under the
subscription agreement.



Watermark continues to believe in the opportunities which this market offers in
the long term.  Future developments will be announced as appropriate.





For further information:


John Caulcutt, Chief Executive                  John West
Crispin Quail, Finance Director                 Claire Melly
Watermark Group plc                             Tavistock Communications
Tel: 01489 897800                               Tel: 020 7920 3150



End.


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

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