Directorate Change

17th December 2008

ARSENAL HOLDINGS PLC

BOARD RESTRUCTURING

Arsenal Holdings plc (the "Company") today announces the following changes to
the composition of the Boards of the Company and The Arsenal Football Club Plc
(the "Club").

Ivan Gazidis, the incoming Chief Executive, will join the Boards of the Company
and the Club with effect from 1 January 2009.

Richard Carr has announced his resignation from the Board of the Company having
served as a director for twenty seven years. Richard will, however, remain a
director of the Club.

Lady Nina Bracewell-Smith will be leaving the Boards of the Company and the
Club with immediate effect.

For further information, please contact Amanda Docherty on 020 7704 4010