From: Gary Withey <gary.withey@collyerbristow.com> Date: 6 October 2011 09:30 Subject: FW: Today To: Craig Whyte <CraigWhyte@rangers.co.

uk> He wasn't asked to brief anyone on the call, but it seems as though there is a willingness to assist. Regards Gary Withey Partner T (Direct) +44 (0)20 7468 7234 F (Direct) +44 (0)20 7468 7334

From: Rod Mckenzie [mailto:rod@harpermacleod.co.uk] Sent: 06 October 2011 08:58 To: Gary Withey Cc: neildoncaster@scotprem.com Subject: Re: Today Dear Gary I understand that everything is exploratory at this stage. I have briefed the Chief Executive on our call. He has indicated that if there is an appetite to pursue this route that an outline paper is prepared setting out the process that is being proposed to achieve the discussed end. The paper should include, as well as the structure of the proposed transactions, how it is proposed that the points we discussed on compliance with SPL Membership Criteria, ground registration and player registration both with the SFA and SPL, would be addressed. Look forward to hearing from you.

From: Gary Withey [mailto:gary.withey@collyerbristow.com] Sent: Wednesday, October 05, 2011 06:53 PM To: Rod Mckenzie Subject: Today Rod, once again thank you for your time today; much appreciated. As discussed there are no firm plans for the club but the directors have a duty to explore all avenues. Once they come to a conclusion I will of course be in conduct. Regards Gary Withey Partner