Formal Takeover Talks Commenced

The Club has today confirmed that formal takeover talks have commenced with Niall Quinn's consortium.

The brief statement to shareholders issued today read:

"Further to the announcement on 28 March 2006 by Bob Murray, chairman and controlling shareholder of the Company, stating he would be willing to consider a change of control of the Company, the Board of Sunderland Limited confirms that it is in discussions with a consortium of private investors led by Niall Quinn that may or may not lead to an offer for the Company being made."