Holding(s) in Company

On 24th March 2011, Arsenal Holdings plc (the "Company") received a

notification from Red and White Holdings Limited 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:

Red and White Holdings Limited

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

N/A

5. Date of the transaction and date on which the threshold is crossed or
reached.

22nd March 2011

6. Date on which issuer notified:

24th March 2011

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

27%

8. Notified details:

A: Voting rights attached to shares

Class/type of Shares - Ordinary Shares

Situation previous to the triggering transaction

Number of Shares 16,796

Number of Voting Rights 16,796

Resulting situation after the triggering transaction

Number of Shares Direct 16,801

Number of Direct Voting Rights 16,801

Number of Indirect Voting Rights

Percentage of Direct Voting Rights 27%

Percentage of Indirect Voting Rights

B: Qualifying 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

C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments

Resulting situation after the triggering transaction

Type of financial instrument N/A

Exercise Price N/A

Expiration date N/A

Exercise/ Conversion Period N/A

Number of voting rights instrument refers to N/A

% of voting rights N/A

Total (A+B+C)

Number of voting rights 16,801

% of voting rights 27%

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

N/A

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:

14. Contact name: Elena Le Clercq

15. Contact telephone number: + 44 (0) 1534 818 418