Director Declaration

ARSENAL HOLDINGS PLC                              

          Appointment of Director by Arsenal Holdings PLC ("Arsenal")          

Further to Arsenal's statement on 19th September 2008 that Stan Kroenke has
accepted the Board's invitation to become a Non-Executive Director of Arsenal,
Arsenal are now pleased to confirm that this appointment took effect from 19th
September 2008

In accordance with the requirements of the Plus Markets Rules for Issuers,
Arsenal hereby gives notice of the following:

  * Stan Kroenke has been a director or partner during the previous five years
    of all the companies and partnerships listed in the appendix to this
    announcement;
   
  * Stan Kroenke has no unspent convictions in relation to fraudulent offences;
   
  * no company or partnership in which Stan Kroenke was a director or partner
    at the relevant time, or during the preceding twelve months, has entered
    into administration, receivership, or insolvent liquidation (including any
    company or partnership voluntary arrangements);
   
  * Stan Kroenke has never been bankrupt or entered into any individual
    voluntary arrangements; and
   
  * Stan Kroenke has not had any official public incriminations or sanctions by
    statutory or regulatory authorities (including designated professional
    bodies) and has never been disqualified by a court from acting in the
    management or conduct of the affairs of any company.
   
24th October 2008

                                   Appendix                                    

209CV, LLC

75th Street Shops, LLC

8th Street Mucho Sales, LLC

ACL/THF Joint Venture, LP

Altitude Sports

AKRW, Inc.

Armstrong Yachts, Ltd.

Big Creek Farms, LLC

Biscayne & 54 Double Drive Thru, LLC

Biscayne & 54 Fast Food, LLC

Black Forest Apartments Associates, LLC

Black Forest Management, LLC

Black's Ridge Development, LLC

Bloomington Tile Shop, LLC

Blue Star Investments Co., LLC

Bluffs Plaza Shopping Center, LLC

Boone County National Bank

Brentwood Crossing Associates

Brentwood Crossing Associates II

Brentwood Crossing Associates III

Broadway-Fairview Transportation Development District

Broadway Crossings, LLC (w/Sam's)

Broadway Crossings II, LLC (w/out Sam's)

Broadway Fairview Venture, LLC

Broadway Land & Capital

CC Place Acquisition, LLC

Casalon Associates, LTD

Carson Valley, LLC

Central Bancompany Holding Company

Central Missouri Aviation, Inc.

Cherry Street Building, LLC

Cherry Street Building Partnership

Cheyenne Real Estate Development II, LLC

Cheyenne Real Estate Development, LLC

Chippewa Partners Real Estate Ventures, Inc.

Coconut Creek Associates, LP

Conley Road Investments, LLC

Conley Road Transporation Development District

Construction Roof Management Services, Inc.

Cooper City Associates

Cooper City Associates II, LLC

Cooper City Gas & Wash, LLC

Cooper City Development Corporation

Country Club Place, LLC

Country Club Partners, LP

Country Club Place Associates, LP

Creve Coure Realty Management, LLC

Crossroads Shopping Center, LLC

CV Development Corp.

Dade County Fast Food, LLC

Deville-THF-Massillon Development, LLC

Deville-THF-Massillon Outparcels, LLC

Deville-THF-Massillon Two, LLC

Dixie Homestead Associates

Dominion Oil, Inc.

Douglas Lake Ranch & any and all related entities.

Douglas Lake Equipment

Douglas Lake Timber

Dreamland of Asheville Associates, LLC

Dreamland of Asheville Directors, Inc.

Eagle Rock Apartments Associates, LLC

East Side Trading Company, CV

Ethans Apartments Associates, LLC

ESK Brentwood Properties II, LLC

ESK Brentwood Properties III, LLC

ESK Brentwood Properties, LLC

ESK Casalon, LLC

ESK Coconut Creek, LLC

ESK Cooper City, LLC

ESK Dixie Homestead, LLC

ESK Florida Properties, LLC

ESK Kansas Investments, LLC

ESK Lauderdale McDonald's, LLC

ESK North Dakota Centre, LLC

ESK North Lauderdale, LLC

ESK Panama City McDonald's, LLC

ESK Panama City, LLC

ESK Remington, LLC

ESK Three Islands Residential, LLC

ESK Three Islands, LLC

FF Construction, LLC

Fast Food Development, LLC

Grand Mesa Center, LLC

Grand Mesa Shopping Center, Inc.

Grand Mesa Center II, LLC

Grand Mesa Shopping Center II, Inc.

Grindstone Plaza Transporation Development District

Glenwood Shops, LLC

Greenville Centre, LLC

Harrisonburg Crossing Shopping Center, Inc.

Helena Northside Center, LLC

Hempfield Pointe Dev., LP

Hempfield Pointe Realty, Inc.

Hen House Marketplace, LLC

Hialeah Gardens Fast Food, LLC

Hialeah Gardens Top Sales, LLC

High Volume Sales, LLC

Highway 94 Apartment Management, LLC

Highway 159 Apartment Management, LLC

Highway 70 Realty Management, LLC

Indy Tile Shop, LLC

Innerbelt Business Center, LLC

J & J Grounds Maintenance, Inc.

JB Jinks Constructions Co., Inc.

James River Commons Community Improvement District

JRF Springfield Development II, LLC

JRF Springfield Development III, LLC

JRF Springfield Development IV, LLC

JRF Springfield Development V, LLC

K & G Associates

K & G Associates II

Kittanning Joint Venture

KMA Stick, LLC
KMC Center, LLC

KMN Ball, LLC
KMS Sports, LLC and any and all related entities

Kroenke Arena & Development, LLC

Kroenke Enterprises, Inc.

Kroenke Group Investments, Inc.

Kroenke Holding Company

Kroenke Land & Livestock Company, LLC

Kroenke Laurie Investments d/b/a Milan/Milan II/Morgan Co.

Kroenke Ranches Aviation, LLC

KSE UK, Inc.

KW Flight, LLC

KW Malibu Colony, LLC

KW Malibu Colony Realty, Inc.

KW Partnership, LP

KW Two Partnership, LP

Land of OZ Management, LLC

Maintenance & More Contracting

McDonald's Plaza, LLC

Medley Tall Sales, LLC

Memphis I, LLC

Mexrail, LLC

Miami - Little Havana Fast Food, LLC

Milan Outparcel (formerly Shoney's)

Missouri River Center, LLC

MO Best Painting Corp.

MO Boys Broward, LLC

MO Boys Palm Beach, LLC

Monroe Limited Liability Company

MWD/KGI Joint Venture

North Lauderdale Associates

North Lauderdale Associates II

North Lauderdale Development Corp.

Northstar Land & Timber, LLC

Northstar Ranch, LP

Northstar Ranch, LLC

Oak Spur Hills Apartments Associates, LLC

Oak Spur Hills Apartments Management, LLC

Ocean Reef Apartment Management Corp.

Ochota Investment Company

Olathe Landing, LLC

Orchid Island Plantation Apts. Assoc. LLC

Palm Beach-Wellington Associates, LLC

Parcel A Monaca Trust

Parcel D Monaca Trust

Park 370 Development I, Inc.

Park 370 Development, LLC

Pearl City Associates, LLC

Pier 1 Plaza, LLC

Piper Apartment Management, LLC

Piper Glenn Apartments Associates, LLC

Plantation Management, LLC

Pre-Development Corporation

PV Ranch Company, LLC

Q Creek Aviation, LLC

Q Creek Grazing Association, LLC

Q Creek Land and Livestock Company, LLC

Rams Shopping Center, LLC

Remington Apts. Associates, LP

Remington Apartments Mgmt. Corp.

RHL Development, LLC

Riverpark Associates, LP (w/out Sam's) (aka Greenville Associates, LP)

Riverpark/Park Lane Corp. (99 year ground lease)

Rock Bridge Center Transporation Development District

Roper Apartment Management, LLC

Roper Mountain Woods Apt. Assoc., LLC

San Xavier Plaza, LLC

Sea Walk Fast Food Enterprises, LLC

Sea Walk Pointe Association, Inc.

Seayco-THF Cicero Market, LLC

Seayco-THF Conway Development, LLC

Seayco-THF Conway Outparcels, LLC

Seayco-THF Eastside Market Shops, LLC

Seayco-THF Eastside Market, LLC

Seayco-THF Owasso Market, LLC

Seayco-THF Peoria Market, LLC

Seayco-THF Riverside Market Outlet

Seayco-THF Riverside Market Shops, LLC

Seayco-THF Riverside Market Two, LLC

Seayco-THF Riverside Market, LLC

Seayco-THF Shops at Conway Commons, LLC

Screaming Eagle Winery

Shoppes at Stadium Transport Development District

Smiley Lane 763 North LLC

Southeast Acquisition, LLC

Southeast Market Centre, LC

South Forks Retail Associates

St. Roberts Center & Farms

St. Roberts Center, LLC

Stuart Associates Retail, LLC

Summix Development Company

The Ethans Apartment Management, LLC

The Executive Suites

THF 40/DD Development, LLC

THF 8251 Maryland Development, LLC

THF Arnold Triangle Development, LLC

THF Arnold Triangle Realty, Inc.

THF Aviation, LLC

THF Bearfield 63 Development, LLC

THF Beaver Realty, Inc.

THF Beaver, LP

THF Belleville Development, LP

THF Belleville, Inc.

THF Black's Ridge Investors, LLC

THF Breihan Development Co.

THF Carlyle, Inc.

THF Carlyle Development, LP

THF Carolina Forest Dev., LLC

THF Carolina Forest Outparcels Realty, Inc.

THF Carolina Forest Outparcels, LLC

THF Carolina Forest Realty, Inc.

THF Carondelet Development, LLC

THF Carondelet Investors, LLC

THF Charleston Company, LLC

THF Charleston, Inc.

THF Charleston, LP

THF Chesterfield Commons, Inc.

THF Chesterfield Dev., LLC

THF Chesterfield Eight Development, LLC

THF Chesterfield Five Development, LLC

THF Chesterfield Five Realty, Inc.

THF Chesterfield Four Development, LLC

THF Chesterfield North Development, LLC

THF Chesterfield North Interstate Dev., LLC

THF Chesterfield Office Investors, LLC

THF Chesterfield Seven Development, LLC

THF Chesterfield Six Development, LLC

THF Chesterfield Three Development, LLC

THF Chesterfield Two Development, LLC

THF Chesterfield Two Realty, Inc.

THF Chesterfield Village Development, LLC

THF Chippewa Shop Realty, Inc.

THF Chippewa Shops Development, LP

THF Chippewa Venture, LP

THF Cicero Market, LLC

THF Clarksburg Dev. One, LLC

THF Clarksburg Development Three, LLC

THF Clarksburg Development Two

THF Clarksburg Investors I, LLC

THF Clarksburg Investors II, LLC

THF Clarksburg Investors Three, LLC

THF Clarksburg One, Inc.

THF Clarksburg Outparcels Investors, LLC

THF Clarksburg Outparcels, LLC

THF Clarksburg Outparcels Realty, Inc.

THF Clarksburg Parcel CC Investors, LLC

THF Clarksburg Parcel CC, LLC

THF Clarksburg Two, Inc.

THF Conway Development, LLC

THF Crestwood Point Dev., LLC

THF Crestwood Point, Inc.

THF Cross Lanes Company, LLC

THF Davenport North Development, LLC

THF Davenport North Investors, LLC

THF Davenport South Development, LLC

THF Davenport South Investors, LLC

THF Davenport West Development, LLC

THF Davenport West Investors, LLC

THF Davenport West Two Development, LLC

THF Davenport West Two Investors, LLC

THF Davenport West, Inc.

THF Eastside Market, LLC

THF Eleven, Inc.

THF Eureka Development, LP

THF Eureka Parcel B Dev., LP

THF Eureka Parcel B, Inc.

THF Eureka, Inc.

THF Executive Suites Investors, LLC

THF Firestone Development, LLC

THF Firestone Investors, LLC

THF Fort Smith Anchor Dev., LLC

THF Forth Smith Shops Dev., LLC

THF Fruitport Development, LP

THF Fruitport Parcel A Dev., LP

THF Fruitport Parcel A, Inc.

THF Fruitport Parcel B Dev., LP

THF Fruitport Parcel B, Inc.

THF Fruitport Parcel R Dev., LP

THF Fruitport Parcel R, Inc.

THF Fruitport, Inc.

THF Ft. Smith Development, LLC

THF Ft. Smith Investors, LLC

THF Ft. Smith Realty, LLC

THF Gator Hole Development, LLC

THF Glen Carbon Development, LLC

THF Glen Carbon Parcel W, LLC

THF Glen Carbon Parcel W, Inc.

THF Glen Carbon Whistlestop, Inc.

THF Grand Junction Realty, Inc.

THF Grand Junction, LLC

THF Greengate Development, LP

THF Greengate Realty, Inc.

THF Greengate Two Development, LP

THF Greengate Two Realty, Inc.

THF Greengate East Development, LP

THF Greengate East Realty, Inc.

THF Greenmount Development, LLC

THF Greenmount Project, Inc.

THF Greensberg Dev., LP

THF Greensberg Realty, Inc.

THF Grindstone Development, LLC

THF Grindstone Plaza, LLC

THF Harrisonburg Crossing, LLC

THF Hazleton, Inc.

THF Hazleton Development, LP

THF Hazleton Parcel W Trust

THF-S High Ridge Company, LLC

THF Highway DD Development, LLC

THF Huntingdon Development, LP

THF Huntingdon Realty, Inc.

THF Indiana Development, LP

THf Indiana Joint Venture

THF Indiana, Inc.

THF Innerbelt Investors, LLC

THF Kendig Development, LP

THF Kendig, Inc.

THF Kittaning Realty, Inc.

THF Kittaning, LP

THF Laura Hill Company, LLC

THF Laura Hill Development, LLC

THF Lebanon Road Investors, LLC

THF Management, Inc.

THF Maplewood Development, LLC

THF Maplewood Outparcels Development, LLC

THF Maplewood Shops Development, LLC

THF Maplewood South Development, LLC

THF Maplewood South Realty, Inc.

THF Marion County Development I, Inc.

THF Marion County Development, LLC

THF Marion County Investors, LLC

THF Massillon Investors, LLC

THF Massillon Two Investors, LLC

THF Moline Company, LLC

THF Monaca, Inc.

THF Monaca, LP

THF Mount Pleasant Dev., LP

THF Mount Pleasant Investors, LP

THF Mount Pleasant Realty, Inc.

THF Newcastle Development, LP

THF Newcastle Realty, Inc.

THF Nitro Development, LLC

THF Northridge Development, LLC

THF Northridge Realty, Inc.

THF O'Connell Ranch Investors, LLC

THF O'Connell Ranch, LLC

THF O'Fallon Development, LLC

THF O'Fallon Mexico Development, LLC

THF O'Fallon Mexico Investors, LLC

THF ONC Development, LLC

THF ONC Realty, Inc.

THF ONC Four Development, LLC

THF ONC Three Development, LLC

THF ONC Two Development, LLC

THF ONC Two Realty, Inc.

THF Owasso Market, LLC

THF Paducah Development, LP

THF Paducah Parcel W Dev., LP

THF Paducah Parcel W, Inc.

THF Paducah, Inc.

THF Parcel 1/Lot 1 Kittanning

THF Parcel POSS, Inc.

THF Park 370 Investors, LLC

THF Park Place, LLC

THF Park Plaza, LLC

THF Peoria Market, LLC

THF Prairie Center Development, LLC

THF Prairie Center Investors, LLC

THF Realty, Inc. (Realty, Legal, Dev)

THF Red Oak Development, LLC

THF Riverside Market Two, LLC

THF Riverside Market, LLC

THF Rochester, Inc.

THF Rochester, LP

THF Rock Road Development, LLC

THF Rock Road Realty, Inc.

THF Saratoga Development, LP

THF Saratoga, Inc.

THF Silver Springs Development, LP

THF Silver Springs Realty, Inc.

THF Somerset Crossing Development, LP

THF Somerset Crossing, Inc.

THF Somerset Development, LP

THF Somerset, Inc.

THF St. Clairsville Dev., LP

THF St. Clairsville Parcel CC Development, LLC

THF St. Clairsville Parcel POSS, LLC

THF St. Clairsville, Inc.

THF Steamboat Crossing Development, LLC

THF Steamboat Crossing Investors, LLC

THF Steamboat Springs Dev., LLC

THF Taussig Road Investors, LLC

THF Telegraph Development, LP

THF Telegraph Parcel M Dev., LP

THF Telegraph Parcel M, Inc.

THF Telegraph Parcel S Dev., LP

THF Telegraph Parcel S, Inc.

THF Telegraph Parcel W, Inc.

THF Telegraph Parcel W, LP

THF Telegraph, Inc.

THF Tiger Town, LLC

THF Tiger Town Realty, Inc.

THF Trinity Investors, LP

THF Trinity Realty, Inc.

THF Washington Development, LP

THF Washington Missouri Development, LLC

THF Washington Realty, Inc.

THF Wentzville Development, LLC

THF Wentzville Two Development, LLC

THF Wentzville Three Development, LLC

THF West Kimberly Development, LLC

THF Whistlestop Development, LLC

THF Winding Woods Development, LLC

THF York Development, LP

THF York, Inc.

THF/TMI Chesterfield Office Development, LLC

THF-CG Charleston, LP

THF-D Charleston Dev., LLC

THF-G Rochester Joint Venture

THF-L Moline Development, LLC

THF-S High Ridge Dev., LLC

THF-SP Telegraph Development, LP

THF-SP Telegraph, Inc.

THF-V Paducah, LLC

Three Island Associates - Residential

Three Island Associates Retail

TKG 7th Street, LLC

TKG 9th Street, LLC

TKG Acquisition Inc.

TKG Alamogordo Center, LLC

TKG Albuquerque Crossroads, LLC

TKG Biscayne, LLC

TKG Columbia Square, LLC

TKG Columbia Conley Road Management, LLC

TKG Conley Road Investment, LLC

TKG Grindstone, LLC

TKG Hall Theatre, LLC

TKG Harwood Development, LP

TKG Management, Inc.

TKG Harwood, Inc.

TKG Macoupin County Development, LLC

TKG Malibu Creek, LLC

TKG Management, Inc.(formerly Kroenke Management, Inc.)

TKG Morganfield Development, LLC

TKG Mortgage Investors, LLC

TKG Olney Development, LLC

TKG Pana Development, LLC

TKG-RKS Joint Venture, LLC

TKG Rock Bridge Center, LLC

TKG San Jacinto Place Development, LP

TKG San Jacinto Place, Inc.

TKG-SMP Canada, Inc

TKG Southeast Market Center Development, LP

TKG Southeast Market Center, Inc.

TKG Southeast Plaza Two, LLC

TKG Southeast Plaza, LLC

TKG Storagemart, LLC

TKG Storagement Canada, Inc

TKG St. Peters Shopping Center, LLC

TKG Stadium, LLC

TKG Tiger Town, LLC

TKG Truman Lake Mall, LLC

TKG Vandalia Center, LLC

TKG Warren County, LLC

TKG Wright County Center, LLC

Top of Mill, LLC

Union Square Newcastle, JV

University Centre

Ursa Minor, LP

Vero Beach Associates, LLC d/b/a Vero Beach Associates Retail, LLC

Warson Village Apartments Associates, LLC

Warson Village Apartment Management, LLC

Waterford Apartment Management, LLC

Waterford Square Apartments Associates, LLC

West Coast Wine Ventures, LLC

West Daytona Associates, LLC

West Kittanning Associates, LP

West Lebanon Road Development, LLC

West Miami-Medley Fast Foods, LLC

Wheeler Block Building, LLC

Whispering Lake Apartment Associates, LLC

Whispering Lake Apartment Management, LLC

Wichita Airport Facilities, Inc.

Winchester Place, LLC

Winplace Acquisition, LLC

Woodrail Investment House, LLC

End