Wembley PLC
28 February 2005



Wembley plc
Wembley sells UK gaming division



Wembley plc, the track based gaming company, today announced the conditional
sale of its UK gaming division ('GRA'), for £50.3 million in cash, payable on
completion, to a new company formed by Risk Capital Partners.

Wembley's UK gaming division is the leading owner and operator of greyhound
tracks in the UK, with 6 greyhound tracks located in Manchester (Belle Vue),
Birmingham (Hall Green and Perry Barr), Oxford, London (Wimbledon) and
Portsmouth.

For the year ended 31 December 2003, the UK gaming division generated operating
profit of £3.6 million on turnover of £25.5 million.  For the six months ended
30 June 2004, the UK gaming division reported operating profit of £2.0 million
(2003: £1.4m).  In addition, the UK gaming division also reported an exceptional
profit of £6.2 million following the sale of the Catford greyhound track for
£7.5 million in cash in March 2004.  Net assets, excluding intergroup balances,
were £48.1 million at 30 June 2004.

Completion is expected to occur on or around 3 March 2005, conditional upon,
inter alia, the finalisation of GRA's 2004 annual report and accounts.  A cash
balance of approximately £1 million will remain in GRA at completion to cover
working capital and other commitments.

Mark Elliott, Chief Executive of Wembley plc, commented:

'We are delighted with the price obtained for the sale of our UK gaming division
following the keen interest shown during the auction of these assets. The sale
represents an important step towards the Board's intention to realise maximum
value for our shareholders.'



                                                                28 February 2005

Enquiries


Wembley plc                                                  Tel: 020 8795 8003
Mark Elliott

Eric Tracey

Hawkpoint                                                    Tel: 020 7665 4500
Paul Baines
Vinay Ghai

College Hill                                                 Tel: 020 7457 2020
Matthew Smallwood



Hawkpoint Partners Limited, which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting exclusively for Wembley
and no one else in relation to this transaction and will not be responsible to
anyone other than Wembley for providing the protections afforded to clients of
Hawkpoint, nor for advising any other person in relation to the contents of this
announcement or any matter referred to herein.


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