David Dein offloads his shares - Confirmed

Last updated : 30 August 2007 By Chris Parry

Red and White Holdings Limited ("Red & White") today announces that it has
purchased a 14.58% stake in Arsenal Holdings plc ("Arsenal") from David Dein for £75m, and that it has appointed David Dein as its Chairman. Red & White also announces that it has committed funds to enable it to increase its stake in Arsenal. However, Red & White confirms that it has no current intention to make a takeover offer for Arsenal or to acquire a shareholding in Arsenal which would trigger an obligation to make a takeover offer for Arsenal save as set out in note 1 below.

Red & White is an investment company established specifically to hold equity
interests in Arsenal. Red & White is jointly owned by Mr Alisher Usmanov, a
leading Russian businessman, and Mr Farhad Moshiri, a London-based investor and long time business associate of Mr Usmanov.

In his role as Chairman David Dein will develop proposals to support the future success of Arsenal and will focus on increasing Red & White's stake in Arsenal as outlined above. Red & White believes that in light of the fast-changing landscape for football, both in the UK and globally, it will be able to assist Arsenal and ensure that it will be able to thrive in the future and become the leading football club in the world. Specifically, Red & White believes that in order to remain competitive at the top level of the game, Arsenal will require access to significant funding.

Additionally, Red & White believes that the continued involvement of Arsene
Wenger, over and above any renewed contract, is vital to the future success of the club.

Red & White intends to approach the Board of Arsenal in the near future to
discuss its ideas, to understand the future direction of Arsenal and to explore
areas of potential cooperation.

Commenting on the announcement, Farhad Moshiri said:

"We are very excited not only to secure a significant stake in one of the
world's most famous football clubs but also to have secured the involvement of David Dein for the future. Arsenal is a great club with huge potential and we look forward to increasing our stake and exploring ways to help support the future development of the club for the benefit of all fans and shareholders."

David Dein, Chairman of Red & White, added:

"I have always had the best interests of Arsenal at heart - I've had a love
affair with the club since I was six. I firmly believe that the involvement of
Red & White with a significant stake and the long-term commitment of Arsene
Wenger are absolutely the best outcome for the club, fans and shareholders
alike. I am delighted to have found, in Farhad Moshiri and Alisher Usmanov,
individuals who share my vision for Arsenal and of where it needs to go to be
the world's leading football club."