SOO Southampton LS.

RNS Number:1310G
Southampton Leisure Holdings PLC
22 October 2007


22 October 2007

                        Southampton Leisure Holdings Plc

                      Offer Update and Proposed Investment


The Board is delighted to announce that it has agreed in principle to proceed
with indicative proposals from a major UK-based investment company (the
'Investor') under which, subject to shareholder approval, the Investor will
become the majority shareholder in Southampton Leisure Holdings Plc (the
'Company') with a total shareholding of not less than 55% of the Company.

The Investor proposes to become the majority shareholder by injecting a
substantial sum directly into the Company by means of a placing of new shares
and to commit additional funds in order to acquire a tranche of pre-existing
equity from current shareholders by means of a partial tender offer.

The proposed placing of new shares would be at a discount to the current share
price and conditional on the grant of a Rule 9 waiver by the Takeover Panel and
approval of that waiver by independent shareholders, which would otherwise
require the Investor to make a takeover offer for the Company's existing share
capital.

The Investor has stated that the above proposals represent the beginning of a
proposed long-term commitment on its part as a strong and supportive shareholder
whose interests would be closely aligned with those of current shareholders and
supporters of Southampton Football Club (the 'Club') and other stakeholders in
the Company. In particular, the Investor has indicated it will undertake a
review of the Club's financial structure. In addition to the significant equity
investment proposed, the Investor has confirmed that it has the financial
capacity and intention to support the ongoing development of the Club and its
Youth Academy and to strengthen its first team squad and prospects of promotion
into the Barclays Premier League.

The proposed investment is subject to, inter alia, financial and other due
diligence and there is therefore no certainty that it will proceed in the above
or indeed any other form.

Further announcements will be made as necessary.


                                    - ends -


Enquiries:

Seymour Pierce Limited                                         020 7107 8000
Roger Clement

Square1 Consulting Limited                                     020 7929 5599
David Bick



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

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