Acting on behalf of Scotair Properties Ltd, whose client, Highlands and
Islands Airport Ltd operates Dundee Airport, J&E Shepherd Chartered
Surveyors has concluded a successful rating appeal resulting in a
significant saving for Dundee Airport.

Although the assessor had proposed a Net Annual Value/Rateable Value
(NAV/RV) of £189,900 for the airport at the 2005 Rating Revaluation, and
this was the figure inherited by Highlands and Islands Airports at its
takeover of the airport in December 2007, the assessor has accepted J&E
Shepherd's argument that the NAV/RV should be amended to £125,000,
backdated to December 2007.

Alan McKenna, FRICS, Dip Rating, head of rating at J&E Shepherd, said,
"The valuation of Dundee Airport prior to the current revaluation was
£155,400 NAV/RV, so the adjustment achieved even falls below the figure
which applied at the 2000 Revaluation."

This revaluation, together with a series of other adjustments argued for
by J&E Shepherd and accepted by the assessor, has resulted in a total
saving of more than £73,000 for Highlands and Islands Airport Ltd.
Graeme Bell, Dundee Airport Manager said, "This figure represents a
significant saving for Dundee Airport and we are pleased that the assessor
has accepted J&E Shepherd's arguments to deliver this outcome."

Mr McKenna added, "Certainly, any occupier who has moved premises within
the last six months should lodge an appeal now since failure to do so will
deprive them of their right to challenge the valuation."

Highlands and Islands Airports Limited (HIAL) is a company wholly owned by
Scottish Ministers and sponsored by the Scottish Government. It operates
Dundee Airport via a wholly owned subsidiary company, Dundee Airport
Limited.