SUT Sheffield Utd

RNS Number:1090S
Sheffield United PLC
01 March 2007


1 March 2007
                              Sheffield United plc
                     ("Sheffield United" or the "Company")

                                   Acquisition

Sheffield United plc (AIM: SUT), the football, property and leisure services
business, announces that it has acquired the entire issued share capital of
United Scarborough Estates (Sheffield) Limited ("USE(S)"), which is a 100%
subsidiary of United Scarborough Estates Limited ("USE"), which is a 100%
subsidiary of United Scarborough Estates Group Limited, a 50:50 joint venture
commercial property investment company between Sheffield United and Scarborough
Property Company plc ("Scarborough").

USE(S) has assets of #2.96 million comprising a portfolio of property in the UK
which, in the two month period to 28 February 2007, had a rental income of
#17,000. Net assets of USE(S) are #1.

The consideration for the acquisition is #32,041 payable in cash. Additionally
#2,440,660 of debt will be assigned from USE(S) to the Company to be repaid by
the Company out of its existing cash reserves. Sheffield United expects to
refinance this payment at a later date. USE(S) also has liabilities of #500,000
in respect of the purchase of the properties which fall payable in the future.

The acquisition will further strengthen the Company's property interests and
forms part of Sheffield United's ongoing strategy of diversifying its revenue
streams.

Kevin McCabe is the Chairman and majority shareholder of the ultimate parent 
company of Scarborough and therefore this transaction is with a related party.  
The Directors of Sheffield United, excluding the related party Kevin McCabe, 
consider, having consulted with Sheffield United's nominated adviser, KBC Peel 
Hunt, that the terms of the transaction are fair and reasonable in so far as its
shareholders are concerned.

For further information:

Sheffield United plc:                               0870 787 1960
Jason Rockett/Mark Fenoughty

KBC Peel Hunt:                                      020 7418 8900
David Davies

Tavistock Communications Group:                     020 7920 3150
Richard Sunderland/Rachel Drysdale



                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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