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:

Schroders plc

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

n/a

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

08.12.11

6. Date on which issuer notified:

09.12.11

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

13%-14%

8. Notified details:

Class/type of shares GB00B126KH97

A: Voting rights attached to shares

Situation previous to the Triggering Transaction: 204,497,602 ordinary shares of 0.01p each, Number of voting rights: 176,059,468

Resulting situation after the triggering transaction: Number of shares: 208,878,292 Number of voting rights: n/a (direct) 180,440,158 (indirect), %age of voting rights: n/a% (direct) 14.022% (indirect).

B: Financial Instruments

N/A

Total A +B

Number of voting rights: 180,440,158 %age of voting rights: 14.022%

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

Schroder Investment Management Limited 176,828,847 13.742%

Schroder Investment Management North America Limited 3,525,000 0.274%

Schroder & Co Limited 86,311 0.007%

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:

The shares referred to in section 9 are held in portfolios managed by those firms on a discretionary basis for clients under investment management agreements.

14. Contact Name/Telephone Number:

Paul Eardley

Company Secretary, Telephone: 0207 408 4444