Director/PDMR Shareholding

On 11th April 2011, Arsenal Holdings plc (the "Company") received a

notification from Daniel Fiszman in the form set out below

regarding the holding of ordinary shares in the Company.

TR-1: NOTIFICATIONS OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which

voting rights are attached :

Arsenal Holdings plc

2. Reason for the notification

Option Agreement

3. Full name of person(s) subject to the notification obligation:

Daniel David Fiszman/DF Nominees Limited

4. Full name of shareholder(s) (if different from 3):

N/A

5. Date of the transaction and date on which the threshold is crossed or
reached.

8th April 2011

6. Date on which issuer notified:

11th April 2011

7. Threshold(s) that is/are crossed or reached:

16%, 15%, 14%,13%,12%,11%,10%,9%,8%,7%,6%,5%,4% and 3%

8. Notified details:

A: Voting rights attached to shares

Class/type of Shares - Ordinary Shares of £1 each

Situation previous to the triggering transaction

Number of Shares 10,025

Number of Voting Rights 10,025

Resulting situation after the triggering transaction

Number of Shares Direct

Number of Direct Voting Rights

Number of Indirect Voting Rights

Percentage of Direct Voting Rights

Percentage of Indirect Voting Rights

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument - Put and Call Option Agreement

Expiration date - If call or put option is not exercised within three years,
the agreement automatically terminates.

Exercise/ Conversion Period/ Date N/A

Number of voting rights that may be acquired if the instrument is exercised/

Converted - 10,025

% of voting rights - 16.1%

C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments

Resulting situation after the triggering transaction

Type of financial instrument N/A

Exercise Price N/A

Expiration date N/A

Exercise/ Conversion Period N/A

Number of voting rights instrument refers to N/A

% of voting rights N/A

Total (A+B+C)

Number of voting rights 10,025

% of voting rights 16.1%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

N/A

Proxy Voting:

10. Name of the proxy holder: N/A

11. Number of voting rights proxy holder will cease to hold: N/A

12. Date on which proxy holder will cease to hold voting rights: N/A

13. Additional information: N/A

14. Contact name: Russel Shear

15. Contact telephone number: + 44 (0) 20 7691 4082