Directorate Change and new Chairman of the Company

ARSENAL FOOTBALL CLUB APPOINTS NEW CHAIRMAN                  

        Sir Chips Keswick replaces Peter Hill-Wood as Arsenal Chairman         

Arsenal Holdings plc (the "Company") has announced today that Sir Chips Keswick
has been appointed as the Chairman of the Company and The Arsenal Football Club
plc.

It follows the decision by Peter Hill-Wood to stand down from the Board for
health reasons.