Following the resignation of Richard King as chairman and a director of Chelsea Pitch Owners Plc, the remaining directors of the Company have invited Steve Frankham to rejoin the board of directors and to act as chairman. He has accepted that invitation. Steve Frankham is a long-time Chelsea supporter, who was an original director when CPO was founded in 1993. He became its chairman in 1997 - when Tony Banks resigned as chairman upon entering government - and led CPO during its most successful period of fundraising. Upon his appointment, Mr Frankham said he relished the opportunity to lead CPO in this vital period and to help it achieve its historic objectives. Mr Frankham, together with the other directors of CPO, will be up for re-election at the forthcoming Annual General Meeting. The Board would like to express its sincere thanks to Richard King for the huge contribution he has made to CPO over the last eight years. The Board of CPO 31 October 2011.