Subject: UEFA Article 67 -----------------------From: Ken Olverman <KenOlverman@rangers.co.uk> Date: 28 September 2011 12:18 To: C_Whyte <ctw@libertycapital.

biz>, Gary Withey <gary.withey@collyerbristow.com>, David Grier <DGrier@mcr.uk.com> Cc: Andrew Dickson <AndrewDickson@rangers.co.uk>

Gentlemen, attached communication received from Keith Sharp at the SFA in relation to a UEFA licensing requirement, arising from the public spat with HMRC. I have drafted a response, hopefully being factually correct and fulfilling his requirements. Can you please review and provide any further comments or corrections as required. Suspect a quick response would be appreciated by Keith. I am also confident that we can provide him with a final draft for comment prior to submission I also attach a soft copy to allow editing Regards Ken Kenneth Olverman Financial Controller The Rangers Football Club plc Tel: 0141 580 8782 Fax: 0141 580 8594 Email: ken_olverman@rangers.co.uk -----Original Message----From: rfcibxfinprt03@rangers.co.uk [mailto:rfcibxfinprt03@rangers.co.uk] Sent: 28 September 2011 17:10 To: Ken Olverman Subject: This E-mail was sent from "RFCIBXFINPRT03" (Aficio 3025). Scan Date: 28.09.2011 18:10:23 (+0200) Queries to: rfcibxfinprt03@rangers.co.uk Visit the official Rangers web site at http://www.rangers.co.uk to catch up on the latest Rangers news, views and interviews and to find out more about our full range of official products and services. LIVE ACTION AT IBROX Tickets for Rangers home games are available on-line at www.rangers.co.uk, from the hotline on 0871 702 1972* or from the Ticket Centre. Hospitality packages also available call 0871 702 1972*. (Subject to availability) * calls are charged at 10p per minute from a BT landline, other network carriers may vary. ************************************************************************************* The information contained in this e-mail is CONFIDENTIAL INFORMATION and may be legally privileged. It is intended for the individual or entity named above. If

you are not the intended recipient, you are hereby notified that any use, review, dissemination, distribution or copying of this document is strictly prohibited. If you receive this document in error, please immediately notify us by emailing it@rangers.co.uk and destroy the original message. Thank you. The Rangers Football Club plc, registered in Scotland with number SC004276, registered office Ibrox Stadium, 150 Edmiston Drive, Glasgow G51 2XD "Think Before You Print" ---------From: Gary Withey <gary.withey@collyerbristow.com> Date: 28 September 2011 12:25 To: Ken Olverman <KenOlverman@rangers.co.uk>, C_Whyte <ctw@libertycapital.biz>, David Grier <DGrier@mcr.uk.com> Cc: Andrew Dickson <AndrewDickson@rangers.co.uk>

Ken can you send over a copy of the letter. Thanks

Gary Withey Partner T (Direct) +44 (0)20 7468 7234 F (Direct) +44 (0)20 7468 7334 Collyer Bristow LLP solicitors 4 Bedford Row, London WC1R 4DF DX 163 London Chancery Lane www.collyerbristow.com Switchboard +44 (0)20 7242 7363 Collyer Bristow LLP is a limited liability partnership registered in England under number OC318532, registered office 4 Bedford Row, London WC1R 4DF. It is authorised and regulated by the Solicitors Regulation Authority under number 441900. Any reference to a partner means a member of the LLP or an employee with equivalent standing and qualifications. A list of the members is available for inspection at the above address. This email may contain confidential or privileged information. If you have received it by mistake please notify us immediately and delete it from your system. Collyer Bristow LLP may monitor email traffic data and the content of emails for the purposes of security.

---------From: Ken Olverman <KenOlverman@rangers.co.uk> Date: 28 September 2011 12:28 To: Gary Withey <gary.withey@collyerbristow.com>, C_Whyte <ctw@libertycapital.biz>, David Grier <DGrier@mcr.uk.com> Cc: Andrew Dickson <AndrewDickson@rangers.co.uk>

Email from Keith is include in the PDF at the bottom together with requirements of article 67 Kenneth Olverman Financial Controller The Rangers Football Club plc

Tel: 0141 580 8782 Fax: 0141 580 8594 Email: ken_olverman@rangers.co.uk -----Original Message----From: Gary Withey [mailto:gary.withey@collyerbristow.com] Sent: 28 September 2011 17:26 To: Ken Olverman; C_Whyte; David Grier Cc: Andrew Dickson ---------From: Ken Olverman <KenOlverman@rangers.co.uk> Date: 3 October 2011 12:43 To: C_Whyte <ctw@libertycapital.biz>, Gary Withey <gary.withey@collyerbristow.com>, David Grier <DGrier@mcr.uk.com> Cc: Andrew Dickson <AndrewDickson@rangers.co.uk>

All, received mail from Keith chasing a response on the attached. Any further comment or change to the wording? If necessary I can sign or have Ali sign on behalf of the club if Craig is not available to avoid any delay once agreed. Ken Kenneth Olverman Financial Controller The Rangers Football Club plc Tel: 0141 580 8782 Fax: 0141 580 8594 Email: ken_olverman@rangers.co.uk -----Original Message-------------From: Craig Whyte <ctw@libertycapital.biz> Date: 3 October 2011 13:03 To: Ken Olverman <KenOlverman@rangers.co.uk> Cc: Gary Withey <gary.withey@collyerbristow.com>, David Grier <DGrier@mcr.uk.com>, Andrew Dickson <AndrewDickson@rangers.co.uk>

I have no problem with it in it's present form...