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 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):

21 March 2012

6. Date on which issuer notified:

23 March 2012

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: 0 ordinary shares of 0.01p each, Number of voting rights: 139,281,568.

Resulting situation after the triggering transaction: Number of shares 128,130,684 ordinary shares, Number of voting rights 0 (direct) 128,130,684 (indirect), %age of voting rights 0% (direct) 9.96% (indirect).

B: Financial Instruments

N/A

Total A +B

Number of voting rights 128,130,684 ordinary shares, 9.96% of voting rights.

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 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