Straumur-Burðarás Fjárfestingabanki hf. - Company Announcement

CB Holding ehf. purchases West Ham United Football Club

8 June 2009

CB Holding ehf. (CB  Holding), the majority  shareholder of which  is
Straumur-Burdaras Investment Bank hf.  (Straumur), has completed  the
purchase of WH Holding Ltd. and its subsidiaries, including West  Ham
United FC plc. ("West Ham" or "the club")

CB Holding fully supports  the executive management  of the club  and
acknowledges the considerable progress  achieved this season both  by
Scott Duxbury, CEO of  West Ham, and  the club's manager,  Gianfranco
Zola.  CB  Holding  has  no  intention  of  changing  the   executive
management or direction of the club.

As a  result of  this  change in  ownership,  the Chairman  and  Vice
Chairman have  decided to  stand  down from  their roles  and  Andrew
Bernhardt, a senior director with Straumur, has been appointed as Non
- Executive Chairman of West Ham United.

For further information please contact;
Georg Andersen
Head of Corporate Communications
Tel: +354 585 6707.
georg.andersen@straumur.com.