DUFC

NEGOTIATIONS CONTINUE

13th January 2006

As reported in this week's enewsletter, we can confirm that we have agreed terms and conditions with Craig, for himself and his key management team. He has accepted the job as Dundee United manager, subject to the formalities of compensation figures being agreed with his Club.

In order to progress matters quickly and amicably, we have offered Inverness Caledonian Thistle an amount which we believe exceeds the compensation figure stipulated under the terms of the existing contract.

Inverness Caledonian Thistle have demanded an amount which we consider is unreasonable. At the present time therefore, two out of the three parties have agreed terms.

We have the utmost respect for Inverness Caledonian Thistle and sincerely hope that an amicable and reasonable settlement can now be reached to allow all parties to move forward sooner rather than later. Discussions will continue today.