Statement From The Board of Directors

Glentoran Recreation Company Co Limited wish to clarify that Kerr Consulting was employed in March 2005 to undertake a business review of the entire operations at that time.

The business review was completed and presented to the Board of Glentoran Recreation Co Limited in July 2005 by Kerr Consulting of which present Glentoran Director Ian Kerr is principle. The review was performed at no cost to Glentoran Recreation Co Limited.

The “Strategic Summary Paper” recently circulated has been undertaken by Ian Kerr and the work associated was neither expensed nor remunerated.

The above is issued for the purposes of clarity and to counter the speculation on various website forums.

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