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Millwall Holdings Plc (“Millwall” or the “Company”)

Issue of New Loan Notes & Amendment to Loan Facilities & Existing Loan Notes

The Company has issued loan notes (“New Loan Notes”) pursuant to a loan note instrument dated 29 March 2010 and constituting £300,000 Unsecured Non-Convertible Loan Notes 2011. The New Loan Notes are unsecured, non-convertible, carry interest at a rate of 15 percent per annum and are due for repayment on 31 March 2011. The New Loan Notes have been issued to the following subscribers:

Jeanne L Press £150,000
Constantine Gonticas £100,000
Keyse Holdings Limited £50,000

The Company has also completed an amendment to the secured facility agreement with Chestnut Hill Ventures LLC (“CHV”) originally dated 1 March 2007 (as amended and restated on 2 April 2008 and further amended on 30 June 2008 and 17 December 2009) (“Secured Facility Agreement”) to extend the term of the facilities provided to the Company under the Secured Facility Agreement until 31 March 2011. Other than the date of repayment, the terms of the Secured Facility Agreement will remain the same.

The Company has also completed an amendment to the £300,000 Unsecured Non-Convertible Directors’ Loan Notes 2010 constituted by an instrument of the Company dated 30 June 2008 (“Existing Loan Note Instrument”) to extend the date of the loan notes issued by the Company under the Existing Loan Note Instrument (“Existing Loan Notes”) to Constantine Gonticas and Keyse Holdings Limited until 31 March 2011. Other than the date of repayment, the terms of the Existing Loan Notes will remain the same.

The issue of the New Loan Notes and the amendment to the Existing Loan Notes each constitute a related party transaction under the AIM Rules due to the fact that Constantine Gonticas is a director of the Company, Jeanne Press is the spouse of Richard Press, also a director of the Company, and Trevor Keyse, a director of the Company, is a director of and has a controlling interest in Keyse Holdings Limited. The amendment to the Secured Facility Agreement also constitutes a related party transaction under the AIM Rules due to the fact that John Berylson and Demos Kouvaris, both directors of the Company, are directors of CHV and John Berylson has a controlling interest in CHV and CHV is a substantial shareholder in the Company. The independent directors of the Company (which excludes Constantine Gonticas, Richard Press, Trevor Keyse, John Berylson and Demos Kouvaris) consider, having consulted with Seymour Pierce Limited, that the terms of the transactions are fair and reasonable insofar as shareholders of the Company are concerned.



Contacts:

Millwall: Andy Ambler / Tom Simmons
020 7232 1222


Seymour Pierce: Jeremy Porter / Tom Sheldon
020 7107 8000

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Last modified: 30-03-10