Comment on Press Speculation

12 November 2013

Rangers International Football Club plc

(the "Company")

Comment on Press Speculation

Incorrect stories concerning the Company have appeared in the media today and yesterday concerning allegations that Craig Whyte still has links to Rangers, which the Company would like to clarify. Pinsent Masons has not reported to the police that Craig Whyte has any connections to the Company. A separate matter was reported to the police by Pinsent Masons, on behalf of the Company. That matter related purely to director appointment form which purported to appoint Craig Whyte as a director of Sevco 5088 Limited.

One of the reasons the investigation report has not been released was because a matter was reported to the police. The Company did not wish to do anything that may undermine any police inquiries into the issue. The Board of directors have at all times acted to protect the interests of the Company and the Company's ability to take legal action.

The Company regret the need to disclose this issue but it is necessitated by the incorrect and speculative articles that have appeared in the media. There has also been speculation in the press on the impact that a police investigation has on the Club's SFA licence to play football. To confirm, there are no grounds for the SFA to withdraw the Club's membership.

The Company also notes that former Chairman Malcolm Murray dismisses the allegations concerning Craig Whyte's supposed involvement with the club.

For further information please contact: