Issue of Equity

Rangers International Football Club plc

("Rangers" the "Club" or the "Company")

Issue of Equity

The Company has made an application to the London Stock Exchange for 714,285 new ordinary shares of 1p each ("New Ordinary Shares") to be admitted to trading on AIM ("Admission"). It is expected that Admission of the New Ordinary Shares will become effective and that dealings will commence at 8.00 a.m. on 7 July 2014. The New Ordinary Shares are being issued pursuant to an exercise of the options granted to Brian Stockbridge (a former Director of the Company) on admission of the Company's shares to trading on AIM pursuant to Mr Stockbridge's original contract of employment with The Rangers Football Club Limited dated 17 September 2012.

In accordance with the provisions of chapter 5 of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following this issue, its issued share capital will comprise 65,810,341 ordinary shares of 1p each. All of the existing ordinary shares and New Ordinary Shares shall have equal voting rights. The total number of voting rights in the Company following the issue of the New Ordinary Shares is therefore 65,810,341. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

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