A NEW regulation authorised by The Football League, effective from September 3, 2010, requires every club to declare publicly the identity of any individual who directly or indirectly owns a stake of 10 per cent or more in that club.

Watford Association Football Club Limited ("the Club") therefore advises as follows, in respect of this new Football League requirement, that:

- Watford Leisure PLC ("WL") owns 95.9% of the issued share capital of the Club.

Through beneficially owned share holdings in WL, the following persons effectively indirectly own a stake of 10% or more of the issued share capital of the Club:

- Lord Ashcroft (via Fordwat Limited): 35.5%
- Jimmy and Vince Russo (via Valley Grown Salads): 28.7%
- Graham Simpson 14.4%

Watford Leisure PLC ("WL") additionally advises that the information required by Rule 26 of the AIM Rules for Companies is available on the WL website:
www.watfordleisureplc.com

The Company's business and principal activity is to hold, as investments, the majority of the issued share capital of The Watford Association Football Club Limited ("Watford Football Club" or "the Club") and the whole of the issued share of Watford Catering Limited.

The principal activity of Watford Football Club is that of a professional football league club. Further information relating to Watford Football Club is available at the website address of www.watfordfc.com

Company number: 3335610