Refinancing

Ladbrokes plc

16 June 2014

LADBROKES EXTENDS DEBT MATURITY AND DIVERSIFIES SOURCES OF FINANCE

Ladbrokes plc ("Ladbrokes") announces that it has completed its balance sheet re-financing to extend its existing bank facilities, which together with the completion of the £100 million retail bond offer, results in an extension of debt maturity on attractive terms as well as diversifying its sources of finance. (1)

The re-financing follows from the launch on 27 May 2014 of a £100million 5.125% sterling Retail bond with 8.25 year maturity. Strong investor demand saw the offer oversubscribed and closing early.

With the proceeds from the bond issue to be used to pay down existing bank debt, Ladbrokes has successfully extended the maturity to June 2019 of £350million of its previous £540 million bank facilities (due to expire in 2016) and cancelled a surplus £135million of the previous facilities. All financial covenants remain unchanged.(2)

As the result of these actions, Ladbrokes total debt financing stands at £730million(3) with an extended maturity profile:

Ian Bull, Chief Financial Officer, Ladbrokes commented:

"We are delighted to announce the completion of our re-financing work well ahead of our existing facilities maturing. With constructive and strong support from our bank and debt investors, we were able to use both the bank and bond market to enhance the flexibility and length of our debt profile and further strengthen the Ladbrokes' balance sheet. "

Notes:

(1) Ladbrokes debt financing activities are executed through a finance subsidiary Ladbrokes Group Finance plc

(2) Net Debt to EBITDA to not exceed 3.5 to1. EBITDA to Net Borrowing Costs to be not less than 3.0 to 1.

(3) Net debt at 31 March 2014 was £386.1 million

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About Ladbrokes

The name Ladbrokes is synonymous with betting and gaming; the hallmark of a premier brand. The Company, the origins of which date back to 1886, employs over 13,000 people in Britain and over 15,000 in total. It is one of the world's leading betting and gaming enterprises. Ladbrokes is a market leader in retail bookmaking in the UK, Ireland, Belgium and Spain where it operates a combined total of more than 2,800 betting shops. In addition to its extensive retail presence Ladbrokes offers thousands of betting markets on a daily basis via the internet, mobile and telephone. Ladbrokes.com, the Company's online betting and gaming facility, attracts circa one million active clients. Betting is offered via 13 tailored sites in nine different languages; supporting 17 currencies. The site incorporates the highest levels of security, which underwrite an integrated array of sports betting and gaming services available 24 hours a day, 365 days a year. Ladbrokes is focused on building its digital capabilities through a product and marketing agreement with Playtech to realise its vision of becoming a fully e-enabled international betting and gaming business.

For further information contact:

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Ciaran O'Brien - Corporate Affairs Director 07976 180 173

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