Interim Management Statement

RNS Number : 0866H
Forth Ports PLC
31 October 2008

31ST OCTOBER, 2008

INTERIM MANAGEMENT STATEMENT

Forth Ports PLC ("the Group") issues its Interim Management Statement covering the period from 1st July 2008 to 30th October 2008 and
includes trading commentary for the nine months to 30th September 2008.

Ports

Trading within our Ports Division is in line with expectations and continues to show good levels of growth over last year.

In Scotland, piped cargo volumes at Hound Point and Braefoot and container volumes at Grangemouth remain well ahead of last year.
Although there have been some down turns in trade, particularly in construction materials, these have been more than offset by increased
activity in the agricultural, food and drink and oil and gas sectors. Having worked closely with the Scottish Government to find a
replacement for the Rosyth-Zeebrugge Superfast service, we have now signed a Letter of Intent with Norfolkline to start a new combined
passenger and freight service from April next year.

Tilbury continued to trade ahead of last year's levels despite a fall in container volumes which have been affected by the weaker
economic conditions. The grain harvest yield and exportable surplus are up significantly in the south east of England. As a result, and as
anticipated, we expect to handle a higher than normal volume of exports. P&O Ferries has deployed a larger Ro-Ro vessel on the
Tilbury-Zeebrugge route to increase capacity. Construction of the blending and milling plant is progressing well at the new Cemex facility.
Commissioning of this facility, which is expected by the end of the year, should lead to significantly increased tonnages.

The Nordic business continued to trade well with a high level of activity at the Tilbury Materials Recycling Facility.

Property

In our Property business, work is progressing on the Hub. The planning application for that development, accompanied by the masterplan,
is expected to be lodged with the City of Edinburgh Council by the end of this year. We have appointed Jones Lang Lasalle to review the
scheme and to advise the Group on the marketing of the scheme to potential partners. Given that continued deterioration in market conditions
will affect the value of our property assets, we are looking at further reductions and deferrals in property related spend. Further spend
will be focussed on building value through achieving planning consents, creating income generating opportunities and fulfilling pre-existing
commitments.

Finance

There are a number of one-off items that will be recognised in the results for the full year. We have received insurance proceeds in
respect of a collapsed crane and a lump sum to release one of our tenants from a lease. Against this, we are likely to make a provision
against the outstanding property debtors as a result of the continuing fall in land values which has affected the value of our security over
these debts. The net effect of these items should not be material in the context of this year's results.

Our financial position remains strong. Net debt since the half year has remained steady. We are making progress with a number of banks
on the refinancing of our �100m revolving credit facility which matures in June 2009.

Summary

Our ports business has good visibility, is underpinned by a significant level of contractual backing, broad range of cargoes and has a
strong cashflow. We believe that it will continue to make good underlying progress in the remainder of the year.

Enquiries:

Charles Hammond, Group Chief Executive Forth Ports PLC 0131 555 8700
Wilson Murray, Group Finance Director Forth Ports PLC 0131 555 8700

Jon Coles/Kate Miller Brunswick 0207 404 5959

Notes to Editors:

Forth Ports PLC owns and operates seven commercial ports in the UK - Tilbury on the Thames, Dundee in the Firth of Tay and five in the
Firth of Forth - Leith, Grangemouth, Rosyth, Methil and Burntisland. We also operate out of Chatham in Kent under the Nordic banner.

Within and around the Firths of Forth and Tay, Forth Ports manages and operates an area of 280 square miles of navigable waters,
including two specialised marine terminals for oil and gas export and provides other marine services, such as towage and conservancy.

The Group also has significant property interests which it continues to develop as part of its commitment to increase shareholder
value.

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