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Friday, February 19, 2010

Ishan Saksena Replaces Briatore as QPR Holdings Chairman...Paladini as QPR Club Chairman

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The Board of Directors of QPR Holdings Ltd today announces Flavio Briatore has decided to step down as Chairman with immediate effect. The Board has appointed Ishan Saksena as the new Chairman.

The Mittal Family has also taken the opportunity to increase its shareholding in the club.

Flavio Briatore said: "My three years as Chairman of QPR have been an exciting and incredible experience. I'm proud to have helped save this historical club and to have contributed in paving the way to its future success.

"Although my commitment to the club remains unchanged, I now feel the need to focus my energies into other fields as well. I'm very happy that my position as Chairman of QPR will go to Ishan Saksena. I'm sure he will do a brilliant job and under his leadership the club will soon achieve the stability and the good results we all expect."

QPR would like to thank Flavio Briatore for his great contribution and commitment during his time as Chairman of the club, and wish him every success in his future endeavours.

Both Flavio Briatore and Bernie Ecclestone remain shareholders of the club.

Amit Bhatia said: "I have known Ishan for 12 years now and I know his feelings for our club run very deeply. Our immediate priority must be to re-introduce stability into the club and safeguard our future in the Championship.

"The season has been disappointing so far, but there are still many games to go. We must make every effort to end it positively, not least for our fans, the people who have continued to support and believe in the club through all the highs and lows. Together we can succeed."

On his new appointment Ishan Saksena said: "Since becoming CEO, I have developed a great love and very strong passion for the club. It is therefore a great honour for me to assume this position. It is a position of trust and I will hold it with great pride.

"I would like to thank Flavio for all his hard work during his time here and for the many positive additions he has made.

"I must also express my gratitude to all our fans, who are the real owners of the club. I feel a real responsibility to repay their loyalty and intend to do all I can to bring the great days back to Loftus Road."

Gianni Paladini will resume the role of Chairman of Queens Park Rangers Football Club.

About Ishan Saksena:

Ishan Saksena is CEO and Managing Director of Queens Park Rangers Football Club. He has 10 years experience in Mergers & Acquisitions, private equity and asset management in North America, Europe and Emerging Markets.

During his career, Ishan has been involved in multibillion dollar private equity transactions and restructuring within the consumer, retail, industrial and energy sectors.

He is an alumnus of Cornell University, USA.

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