Embargoed for release at 0700hrs

14th July 2008

Sheffield United PLC ("Sheffield United" or "Company")

Sale of "Thames Club"

Sheffield United the diverifised football company, annouces that today it has sold for cash consideration the property and business that together trade as "the Thames Club" to a company funded by the Downing Protected VCTs. Located in a residential suburb close to the centre of Staines, Middlesex, the Thames Club is a health and fitness club with associated facilities. Sheffield United acquired the business in March 2006, the assets sold were valued in the books of the Group at £3.8 million and the sale has generated a gross profit of £0.7 million.  

The Thames Club made a profit of £0.07 million after interest in the year to 30th June 2007.  

The proceeds from the sale will be used primarily to repay existing banking facilities and the remaining funds will be used to supplement  the Group's working capital and invest in the first team budget.  

Jason Rockett, Chief Executive of Sheffield United commented as follows:

"The sale of the Thames Club forms part of the Company's strategy to refocus its leisure operations around the South Yorkshire area. With the opening of the Copthorne Sheffield Hotel taking place in autumn 2008, which includes a new health club, and the recent opening of our Junior Community Development Centre at Crookes, it makes sense to realise a significant profit from the sale of the Thames Club allowing the Company to focus its capital and management resource on the new challenges. This sale will allow us to repay a signficant amount of debt and will underpin investment in the first team squad. The new owners, are also well placed to continue the development of the Thames Club as part of their portfolio of premier health clubs." 

Enquiries: 

Sheffield United PLC 

Jason Rockett                         +44 (0)870 787 1960

Simon Capper

KBC Peel Hunt (Nominated adviser and broker)

David Davies                        +44 (0)20 7418 8900

Tavistock Communications

Jeremy Carey                        +44 (0)20 7920 3150 

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