Wembley plc - Completion of U.S. sale process and share repurchase - Tuesday 12th of July 2005

The Board of Wembley announces that the sale of the US Gaming Division completed

yesterday with the net receipt of approximately $348 million (after adjustments)

from BLB Investors LLC (BLB). A cash balance of approximately $14 million

formed part of the assets transferred with the US Gaming Division.

The repurchase of BLBs 7,732,500 ordinary shares in the capital of the Company

was also completed yesterday, following which the repurchased shares were

cancelled. The aggregate purchase price for these shares was $116 million.

This amount was set off against a promissory note of an identical value that was

paid by BLB to Wembley in addition to the $348 million cash referred to above as

part of the consideration for the sale of the US Gaming Division.

Following the completion of the sale of the US Gaming Division, Wembley no

longer has any trading operations and accordingly, a circular will be despatched

to shareholders as soon as possible convening an extraordinary general meeting

at which shareholders will be asked to put Wembley into a members voluntary

liquidation and to authorise the cancellation of the listing of Wembleys

ordinary shares from the Official List of the UKLA.

Further enquiries:

College Hill Tel: +44 (0) 20 7457 2020

Matthew Smallwood / Justine Warren

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