Press Release Article

Wednesday 20th July 2005: Contract for share purchase and AGM cancellation

The United Trust has a contract for the purchase of 40% of the shares of CUFC (Holdings) Ltd, which owns some 93% of Carlisle United (1921) Ltd. The current majority share holder in CUFC (Holdings) Ltd does not wish to adhere to the terms of the contract and has cited various differing reasons over the past few months why he should not do so. For its part the Trust is pursuing the matter through the proper legal channels.

Also over recent months there has been a concentrated campaign of anti-Trust propaganda emanating from the Club's directors whose stated objective is the removal of members of the Trust Board.

The recent United Trust Board elections have had to be postponed and re-organised following the discovery of irregularities in the voting process. The conduct of the election has now been passed to the Electoral Reform Society - as has happened at many other Trusts.

The latest matter to come to light involves the return of ballot papers which were not sent out by the Trust. It has been noticed that one returned form had had the voting boxes filled in and had been photo-copied. These already-filled-in photo-copies had been signed and returned as valid ballot papers. The original ballot form which had had the voting boxes filled in and had been photo-copied was that of an employee in the private office of the owner of Carlisle United and Story Construction Ltd. The photo-copies which were signed and returned as ballot papers were all from employees of Story Construction who had recently joined the Trust en bloc.

THE UNITED TRUST BOARD