Barry George, who spent eight years in prison after being wrongly convicted of the murder of TV presenter Jill Dando, has lost his High Court bid for compensation as a victim of a "miscarriage of justice".
Two judges rejected his claim that the Justice Secretary unfairly and unlawfully decided he was "not innocent enough to be compensated".
Lord Justice Beatson and Mr Justice Irwin ruled that the Secretary of State was "entirely justified in the conclusion he reached."
Miss Dando, who was from Weston-Super-Mare was shot dead outside her home in Fulham in April 1999.
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Police divers have dragged the body of a man from the river Avon in Bristol city centre. A man was seen struggling in the water last night.
The new man in charge will watch his side from the Director's Box at Charlton this afternoon.
Police are resuming their search for a man who was last seen swimming in the river in the Welsh Back area. Divers have been deployed.