Holding(s) in Company

TR-1 NOTIFICATION OF MAJOR INTERESTS IN SHARES

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

Debenhams plc

2. Reason for the notification  

An acquisition or disposal of voting rights

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

Bestinver Gestion S.A., SGIIC

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

Investment institutions managed by Bestinver Gestion S.A. SGIIC and pension funds managed by Bestinver Pensiones, EGFP S.A.

5. Date of the transaction (and date on which the threshold is crossed or reached if different):

25th February 2011

6. Date on which issuer notified:

1st March 2011

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

12%

8. Notified details:

Class/type of shares

ISIN: GB00B126KH97

 Voting rights attached to shares

Situation previous to the Triggering Transaction: Ordinary shares of 0.01p each - none

Number of voting rights: 154,256,664

Resulting situation after the triggering transaction: 155,079,450 ordinary shares of 0.01p each

Number of voting rights Direct None, Indirect 155,079,450 ordinary shares;

Percentage of voting rights Direct None, Indirect 12.05%

B: Financial Instruments

N/A

Total A +B

Number of voting rights 155,079,450

Percentage of voting rights 12.05%

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

Investment institutions managed by Bestinver Gestion S.A. SGIIC and pension funds managed by Bestinver Pensiones, EGFP S.A.

Proxy Voting:

10. Name of the proxy holder: n/a

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

n/a

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

13. Additional Information:

14. Contact Name/Telephone Number:

Paul Eardley

Company Secretary

Telephone 0207 408 4444