Project Finance Facility

Tottenham Hotspur PLC
29 November 2002

Date: 29 November 2002

Enquiries:

Daniel Levy, Chairman
Tottenham Hotspur plc                                    tel: [phone]

John Bick/Trevor Phillips, Holborn                       tel: [phone]



                              Tottenham Hotspur plc
                                ('The Company')

           Project Finance Facilities Arranged for up to £75 million

The Board of Tottenham Hotspur plc announces that it has agreed terms with two
leading financial institutions for Project Finance facilities of up to £75
million.

Up to £65 million of these facilities are intended to support the Company's
principal capital projects.  These include the proposed new football academy and
first team facility at Abridge in Essex and a potential stadium development.
The remaining £10 million has been made available to replace existing short-term
borrowings

The Company has agreed terms for senior loan notes carrying various maturity
terms of between 7 and 20 years secured on certain group revenue streams, the
stadium and related assets.  New funds will only be drawn down once the
Company's strict financial criteria for the specific capital project and other
conditions have been met.  The £65 million of Project Finance facilities may be
drawn down over the next four years in a number of tranches, enabling the
Company to match its borrowing requirements with different stages of project
development.  The interest rate on £25 million of these facilities has been
fixed: 7.29 per cent for drawings with a 20-year final maturity and 6.94 per
cent for drawings with shorter maturities. The interest rates on the remaining
project finance facilities will be calculated at a pre-determined spread over
the yield on the benchmark government bond at the time of draw down. The
interest rate on the £10 million refinancing element, which has a 20-year final
maturity, has been fixed at 7.29 per cent.

Commenting, Daniel Levy, Chairman of Tottenham Hotspur plc, said:

'This is a very flexible and innovative agreement that will allow us to match
long-term borrowings with our long-term assets and provides some sensible and
cost effective options to the Company in the funding of planned capital
projects.  Whilst it may be some time before we draw down on such facilities, we
felt that it was prudent financial management to secure at least one committed
source of potential funding and take advantage of the prevailing low level of
interest rates.  We will continue to examine other sources of finance when and
if it becomes appropriate to do so.

'Our proposed new football academy and first team facility is currently subject
to planning consent and we are continuing to consult with the local authority.
Our other major project is a stadium development where we have yet to conclude a
specific proposal.  With regard to White Hart Lane there are a number of
significant issues to overcome before a planning application could be submitted,
particularly relating to transportation infrastructure.'

The new facilities were arranged by Lazard.  Lazard and the financial
institutions providing the new facilities were advised by Ashurst Morris Crisp.
The Company was advised by DLA.

ends


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