Completion of the Sale of Stewart Travel Limited

Minoan Group Plc

("Minoan" or the "Company")

Completion of the Sale of Stewart Travel Limited

Following the passing of the resolution on Monday approving the sale of Stewart Travel Limited ("STL"), Minoan confirms that the sale has now been completed.

As required under the terms of the sale, Duncan Wilson will cease to be a director of Minoan with immediate effect. The Board would like to thank Duncan for his valuable contribution to the Group since his appointment and wish him every success with STL.

Christopher Egleton, Minoan Chairman, commented:

"Now that the sale of STL has been completed the Board is clear to concentrate on optimising the value of the Company's project in Crete for the benefit of shareholders and stakeholders".