CCP Celtic Plc

RNS No 9673c
CELTIC PLC
12th February 1998


CELTIC plc

Celtic plc announces that the Scottish Football League ("SFL") has today
resolved that the ten current clubs in the Premier Division of the SFL, of
which Celtic is one, are permitted to resign from the SFL on less than the
current requirement of two years' notice so as to be able to establish,
through a Limited Liability company, a new independent league starting from
season 1998/99.

Celtic plc has, along with the other nine Premier Division clubs, signed a
Letter of Undertaking agreeing to enter into a Settlement Agreement with the
SFL and, if necessary, the other 30 member clubs of the SFL.   The Settlement
Agreement will be negotiated within agreed parameters so as to address the
future relationship between the new league and the SFL and provide a financial
support package to the clubs remaining in the SFL.  Full details of the
Settlement Agreement will be announced once it has been finalised.

12th February 1998


END

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