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):

Several investment institutions and pension funds represented by Bestinver Gestion S.A. SGIIC.

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

15 May 2012

6. Date on which issuer notified:

17 May 2012

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

9%

8. Notified details:

Class/type of shares GB00B126KH97

A: Voting rights attached to shares

Situation previous to the Triggering Transaction: 0 ordinary shares of 0.01p each, Number of voting rights: 114,692,497.

Resulting situation after the triggering transaction: Number of shares 0 ordinary shares, Number of voting rights 0 (direct) 122,084,095 (indirect), %age of voting rights 0% (direct) 9.53% (indirect).

B: Financial Instruments

N/A

Total A +B

Number of voting rights 122,084,095 ordinary shares, 9.53% of voting rights.

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

I Several investment institutions and pension funds represented by Bestinver Gestion S.A. SGIIC.

Proxy Voting:

10. Name of the proxy holder: n/a

11. Number of voting rghts 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