Directorate Change

20 April 2011

Directorate Change

Home Retail Group today announces that Sara Weller, Managing Director of Argos has informed the Board that for personal reasons she intends to step down from her position with effect from June 2011.

Terry Duddy, Chief Executive of Home Retail Group, will assume responsibility for the Argos business on an interim basis, in addition to his current role. The Board intends to look for a permanent replacement for the Argos role from internal and external candidates.

Oliver Stocken, Chairman of Home Retail Group, said:

"We are very grateful to Sara for her hard work and commitment over the last seven years. She has been a great leader for Argos and whilst we will miss her contribution, we fully understand and respect her reasons for stepping down and wish her all the best for the future."

Sara Weller added:

"This has been an extremely difficult decision to make but it is absolutely in the best interests of my family and me. I have greatly enjoyed my time with Argos as we have successfully developed our multi-channel retailing offer. I will miss being part of the strong team that we have built within the business. I do not intend to take on another full-time executive role, but will be looking to expand my non-executive career for the future."

Enquiries

Analysts and investors (Home Retail Group)

Richard Ashton Finance Director 01908 600 291

Tony Newbould Head of Investor Relations

Media (Finsbury)

Rollo Head 020 7251 3801