Holding(s) in Company

TR-1: Notifications of Major Interests in Shares

1: Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Dixons Retail PLC

2: Reason for notification (yes/no)

An acquisition or disposal of voting rights

Yes

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

No

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

No

An event changing the breakdown of voting rights

No

Other (please specify):

No

3. Full name of person(s) subject to the notification

obligation:

 UBS Global Asset Management (Traditional Entities)

4. Full name of shareholder(s) (if different from 3.):

UBS Global Asset Management (UK) Limited

UBS Global Asset Management Life Limited

5. Date of the transaction (and date on which the threshold

is crossed or reached):

31 January 2011

6. Date on which issuer notified:

02 February 2011

7. Threshold(s) that is/are crossed or reached:

10%

8: Notified Details

A: Voting rights attached to shares

Class/type of share If possible use ISIN code

GB0000472455

Situation previous to the triggering transaction

Number of shares

Number of voting rights

343,898,931

343,898,931

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Percentage ofvoting rights

Direct

Indirect

Direct

Indirect

365,429,347

13,772,725

351,656,622

0.38%

9.74%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date

No. of voting rights that may be acquired(if the instrument exercised/converted)

Percentage of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Exerciseprice

Expirationdate

Exercise/Conversionperiod

Number of votingrights instrumentrefers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

365,429,347

10.12%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable:

UBS Global Asset Management (UK) Limited - 351,656,622 - 9.74%

UBS Global Asset Management Life Limited - 13,772,725 - 0.38%

Proxy Voting:

10. Name of the proxy holder:

 UBS Global Asset Mangement on behalf of a number of clients

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:

Nemanja Pantic / Konstantina Georgaki

15. Contact telephone number:

+41 44 239 6225