Holding(s) in Company

On 1st May 2009, Arsenal Holdings plc (the "Company") received a

notification from Stanley Kroenke in the form set out below regarding the
holding of ordinary shares in the Company.

TR-1: NOTIFICATIONS OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which

voting rights are attached :

Arsenal Holdings plc

2. Reason for the notification

An acquisition or disposal of voting rights - Yes

3. Full name of person(s) subject to the notification obligation:

Stanley Kroenke

4. Full name of shareholder(s) (if different from 3):

KSE, UK, Inc.; and Pershing Nominees Limited

5. Date of the transaction :

(and date on which the threshold is crossed or reached if different)

1st May 2009

6. Date on which issuer notified:

1st May 2009

7. Threshold(s) that is/are crossed or reached:

28%

8. Notified details:

A: Voting rights attached to shares

Class/type of Shares - Ordinary Shares (ISIN: GB0030895238)

Situation previous to the triggering transaction

Number of Shares 12,774

Number of Voting Rights 12,774

Resulting situation after the triggering transaction

Number of Shares

Number of Direct Voting Rights

Number of Indirect Voting Rights 17,613

Percentage of Direct Voting Rights

Percentage of Indirect Voting Rights 28.3%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument N/A

Expiration date N/A

Exercise/ Conversion Period/ Date N/A

Number of voting rights that may be acquired if the instrument is exercised/

converted N/A

% of voting rights N/A

Total (A+B)

Number of voting rights 17,613

% of voting rights 28.3%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

KSE, UK, Inc. is wholly owned by Stanley Kroenke.

KSE, UK, Inc. is the direct holder of 16,055 ordinary shares, representing
25.8% of the voting rights.

Proxy Voting:

10. Name of the proxy holder: N/A

11. Number of voting rights proxy holder will cease to hold: N/A

12. Date on which proxy holder will cease to hold voting rights: N/A

13. Additional information:

Pershing Nominees Limited is the direct holder of 1,558 ordinary shares, the
indirect holder of which is Stanley Kroenke.

14. Contact name: Tim Lewis

15. Contact telephone number: + 44 (0) 20 7831 9222