    
 MANCHESTER CITY PLC
Media Release - Completion of Financing Programme
4 August 2003
Manchester City Football Club Completes its £44 million Financing Programme
Manchester City Football Club drew down the second tranche of its £44 million financing program. The £13.7 million tranche has a 15-year maturity with the first three years floating over LIBOR and the remaining term fixed to maturity. The Notes have a small amount of amortization in the first three years then effectively level payments to amortize the issue in 2018.
The Notes were placed by Schechter & Co. Limited with a non-UK institutional investor as a part of the original ticket securitization completed in 2002.
The proceeds of the Issue are being used to fund the completion of The City of Manchester Stadium. The Stadium was constructed to host the XVII Commonwealth Games in 2002 and is in the final stages of its conversion to become the new home of Manchester City Football Club. The Club will play their first game at their new stadium against Barcelona on 10 August. The 48,000 seater stadium employees a unique bowl design where every spectator will be within 100 meters of the centre spot and will have an unobstructed view of the action.
Alistair Mackintosh, Managing Director of Manchester City Football Club said, "We are pleased to complete this additional piece of our securitization programme. The funds are required to pay for the enhancements we have introduced to the City of Manchester Stadium."
Stephen L Schechter, Founder of Schechter & Co Limited said, "We are pleased to be associated with Manchester City Football Club and to help them achieve their move into their new stadium. The Club took advantage of both current low floating rates and the opportunity to lock in long term fixed rate debt at an attractive coupon."
The directors of the issuer accept responsibility for this announcement.
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Schechter & Co. Limited