And From QPR: A Takeover Update Statement

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QPR Official Site

CLUB STATEMENT - OFFER UPDATE
Fri 19 Oct 2007

Recommended Offer by Sarita Capital Investment Inc. ("Sarita Capital") for QPR Holdings Limited ("QPR") - Repayment of Loan

Further to the Offer Document published and posted to QPR Shareholders on 27 September 2007, QPR are to immediately repay a loan of £805,207.02 (the "Anaid Loan") due to Anaid Holdings Limited ("Anaid") from the proceeds of the Convertible Loan Facilities provided by the Sarita Concert Party.

Anaid Investments Limited holds 3,570,000 shares in QPR, representing approximately 3.6 per cent of the issued share capital of the Company. Whilst Anaid Investments Limited, which is connected to Anaid, has agreed irrevocably to vote in favour of the resolutions at the EGM of the Company to be held on 7 November 2007, as set out in Part B of Appendix IV of the Offer Document, it has also notified the Company that it will not accept the Offer.

It is in the commercial interests of the Company to repay the Anaid loan, along with certain other creditors, as soon as possible. ARM Corporate Finance Limited believes that the repayment of the Anaid Loan is fair and reasonable so far as other QPR Shareholders are concerned.

Enquiries:

Charles Stanley Securities Telephone: +44 (0) 20 7149 6000
(Financial adviser to Sarita Capital)
Russell Cook
Henry Fitzgerald-O'Connor

QPR Holdings Limited
Gianni Paladini

ARM Corporate Finance Limited Telephone: +44 (0) 207 512 0191
(Financial adviser to QPR)
Alan MacKenzie

This Announcement does not, and is not intended to, constitute or form part of any offer to sell, or an invitation to purchase, any securities or the solicitation of any vote or approval in any jurisdiction. The Offer will be made solely by means of the Offer Document, which will contain the full terms and conditions of the Offer. QPR Shareholders are advised to read carefully the formal documentation in relation to the Offer once it has been despatched.

The availability of the Offer and the release, publication or distribution of this Announcement to persons who are not resident in the United Kingdom may be affected by the laws of the relevant jurisdictions in which they are located. Persons who are not resident in the United Kingdom should inform themselves of, and observe, any applicable requirements. Any failure to comply with such applicable requirements may constitute a violation of the securities laws of any such jurisdictions. This Announcement has been prepared for the purposes of complying with English law and the City Code and the information disclosed may not be the same as that which would have been disclosed if this Announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.

The Offer will not be made in or into any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. Custodians, nominees and trustees should observe these restrictions and should not send or distribute the document in or into any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

Charles Stanley Securities, which is authorised and regulated in the United Kingdom by the Financial Services Authority for the conduct of investment business, is acting for Sarita Capital Investment Inc. and no one else in connection with the Offer and will not be responsible to anyone other than Sarita Capital for providing the protection afforded to clients of Charles Stanley Securities, or for providing advice in relation to the Offer.

ARM Corporate Finance Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority for the conduct of investment business, is acting for QPR Holdings Limited and no one else in connection with the Offer and will not be responsible to anyone other than QPR Holdings Limited for providing the protection afforded to clients of ARM Corporate Finance Limited, or for providing advice in relation to the Offer. QPR