Holding(s) in Company

TR-1: Notification of Major Interest in Shares

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

Debenhams Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

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

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

x

An event changing the breakdown of voting rights

Other (please specify):

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

Oz Management LP and Och-Ziff Management Europe Ltd

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

Credit Suisse Client Nominees Ltd

Morstan Nominees Ltd

Vidacos Nominees Ltd

5. Date of the transaction and date on which the threshold is crossed or reached: v

27 October 2009

6. Date on which issuer notified:

29 October 2009

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

5%, 10%, 11%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of shares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00B126KH97

18,197,718

18,197,718

1.41%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date xiii

Exercise/  Conversion Period xiv

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date xvii

Exercise/ Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Equity CFD

N/A

27/11/2010

17/10/2012

20/12/2012

N/A

130,025,173

Nominal

Delta

10.10%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

148,222,891

11.52%

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

Proxy Voting:

10. Name of the proxy holder:

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:

Oz Management LP acts as the investment manager for a number of private investment funds and those funds beneficially own the shares and financial instruments that are the subject of this notification. Och-Ziff Management Europe Ltd is a sub-advisor to OZ Management Ltd

14. Contact name:

Paul Eardley

15. Contact telephone number:

0207 408 4444