From: <phil.betts@virgin.net> Date: 23 June 2011 To: David Grier <Dgrier@mcr.uk.com> Cc: Craig Whyte <ctw@libertycapital.

biz>

Hi David I met with Ross Bryan today to discuss invoicing. Unfortunately, we need to raise the invoice and date it 9th May. So can you please raise it and email it to me please. I also met with Andrew Harding and have suggested that initially he needs to deal with you, but after a period of time, he would probably deal with Ken. Many thanks Regards Phil From: David Grier <DGrier@mcr.uk.com> Date: 23 June 2011 To: "phil.betts@virgin.net" <phil.betts@virgin.net> Cc: "ctw@libertycapital.biz" <ctw@libertycapital.biz>

Phil, Have been at the club today and meeting with various people, but will arrange to get the invoice to you asap. Will call tomorrow to discuss. Regards, DG David Grier

From: <phil.betts@virgin.net> Date: 23 June 2011 To: David Grier <Dgrier@mcr.uk.com> Cc: Craig Whyte <ctw@libertycapital.biz>

The next drawdown from Ticketus of 5m + VAT could be available as early as next week. Phil

From: <phil.betts@virgin.net> Date: 24 June 2011 To: Craig Whyte <ctw@libertycapital.biz>

Hi Craig Just a gentle reminder that as part of our original agreement I am entitled to charge 25k (0.5%) for the next drawdown, but I have agreed to share that 50:50 with you. Very interested in those Wimbledon tickets if you don't want them and they are not too expensive.

Speak later From: Phil Betts <phil.betts@virgin.net> Date: 26 June 2011 To: David Grier <DGrier@mcr.uk.com> Cc: ctw@libertycapital.biz

Hi David Look forward to receiving the invoice when ready, but I am under increasing pressure from Ticketus to make sure this is done by Tuesday, otherwise it will cause them internal issues. As a key funder now and going forward we really can't afford to upset them. Can you remember to send me a copy of the latest cashflow forecast please. I am meeting James Buckholt on Monday 4th. Is that soon enough? Regards Phil. ---------From: David Grier <DGrier@mcr.uk.com> Date: 26 June 2011 To: "phil.betts@virgin.net" <phil.betts@virgin.net> Cc: "ctw@libertycapital.biz" <ctw@libertycapital.biz>, "gary.withey@collyerbristow.com" <gary.withey@collyerbristow.com>

Phil, No problem can we meet on Tuesday or even tomorrow? Let me know if you are in London. I have sent you both a copy of the current structure and the incorporates current authority limits which we can discuss on Wednesday whem we meet with Gary. Just on a related matter I mentioned that we are conducting this review to Ali and Gordon and have also provided them with a copy of the structure (however no salary detail included copy) and Ali mentioned that he had engaged with Dundas and Wilson to review the catering contract. I have said that no engagement with external third parties should be made without approval of Craig and believe that any contract review is also a matter for Gary. Regards, David From: <phil.betts@virgin.net> Date: 26 June 2011 To: David Grier <Dgrier@mcr.uk.com> Cc: Craig Whyte <ctw@libertycapital.biz>, Gary Withey <gary.withey@collyerbristow.com>

Thanks David. I'm in London Tuesday and Wednesday. How about Tuesday afternoon around 3.30 pm or maybe before we meet with Gary on Wednesday.

Ref Ali Russell - I agree. I'm a little surprised he hasn't approached Gary. Gary, have you had a chance to look at the catering contract? Let me know when you want to meet.

Regards Phil

From: Gary Withey <gary.withey@collyerbristow.com> Date: 27 June 2011 To: David Grier <DGrier@mcr.uk.com>, phil.betts@virgin.net Cc: ctw@libertycapital.biz D&W are also MIH lawyers. Gary Withey Partner

From: Gary Withey <gary.withey@collyerbristow.com> Date: 27 June 2011 To: phil.betts@virgin.net, David Grier <Dgrier@mcr.uk.com> Cc: Craig Whyte <ctw@libertycapital.biz>

I have looked at the catering contract many many times over. I don't even know what questions Ali has on the contract? Regards Gary Withey Partner T (Direct) +44 (0)20 7468 7234 F (Direct) +44 (0)20 7468 7334