RNS Number:8218P
SP Holdings PLC
16 September 2003



                                SP Holdings PLC

                                ('the Company')



On 3 February 2003, the Company announced that Mike Farnan was resigning as
Chief Executive of the Company and this took effect on 18 February 2003. On 12
March 2003 the shares in the Company were suspended pending clarification of the
financial position of the Company. Whilst the shares were suspended (and neither
party was director), Mike Farnan agreed to sell his shareholding in the Company
to Simon Eagle for #1 as part of an agreement by which Simon Eagle had agreed to
loan the Company #250,000 for working capital purposes. The Company announces
that the transfer of the legal title of Mike Farnan's shareholding
of 1,030,593 10p ordinary shares to Winterway Investment Corporation Limited, a
company in which Simon Eagle has sole interest, completed yesterday. Simon 
Eagle, the Chairman and Chief Executive of the Company now owns 5.8% of the 
Company.



Enquiries:



SP Holdings                  Telephone: 020 7292 8950

Matthew Patten



Hudson Sandler               Telephone: 020 7796 4133

Nick Lyon






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