Statement re Court Order

9 September 2014

Rangers International Football Club plc

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

Statement re. Court of Session Decision of 9 September 2014

The Company confirms that the Court of Session in Edinburgh has granted the Company Leave to Appeal the Court's decision to grant an order allowing Mr Ahmad to arrest funds in Rangers bank account or the accounts of others who may be due to pay sums to Rangers. He sought this order in connection with a claim against the Rangers Football Club Limited for alleged unpaid bonuses in the amount of £500,000.

This is a procedural step in the appeal process and the court has not yet considered the merits of the appeal. If the appeal is successful, the Court's decision of 5 September 2014 will be overturned and the funds arrested will be released.

For further information please contact:

Rangers International Football Club plc

Graham Wallace Tel: 0141 580 8647

Daniel Stewart & Company plc Tel: 020 7776 6550

Paul Shackleton / David Coffman

Newgate Threadneedle Tel: 020 7148 6143

Roddy Watt / John Coles