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:

Artemis Investment Management Limited

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

Artemis Income Fund

Artemis UK Special Situations Fund

Artemis Capital Fund

City of London Cash A/c

City of London Pension A/c

Artemis Alpha Trust

BHS Senior Management Scheme

BHS Pension Scheme

P&O Pension Scheme

Institutional Equity Income Fund

Institutional Special Situations

Hampstead Heath (COL)

Charities Pool (COL)

Pearson

Prudential Staff Pension Scheme

Akzo Nobel Pension Schem2

L&G Barclays Income 1

L&G Barclays Income 2

BBC PENSION SCHEME

SAUL

Barclays UK Alpha

L&G(Barclays) MM Alpha Fund

L&G(Barclays) Series2 MM Alpha Fund

Witan Investment Trust

Artemis Strategic Assets Fund

MT Total Return Fund

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

12 March 2010

6. Date on which issuer notified:

15 March 2010

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

10%

8. Notified details:

Class/type of shares GB00B126KH97

A: Voting rights attached to shares

Situation previous to the Triggering Transaction: 129,886,753 ordinary shares of 0.01p each, Number of voting rights: 129,886,753.

Resulting situation after the triggering transaction: Number of shares: 125,393,763, Number of voting rights: 125,393,763 (direct), 0 (indirect), %age of voting rights 9.74% (direct) 0% (indirect).

B: Qualifying Financial Instruments

N/A

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

N/A

Total A +B125,393,763 % of voting rights 9.74%

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

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