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

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

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

OZ Management LP and Och-Ziff Management Europe Ltd

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

Credit Suisse Client Nominees Ltd

Morstan Nominees Limited

Vidacos Nominees Limited

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

13th May 2011

6. Date on which issuer notified:

16th May 2011

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

11%, 10%, 5%

8. Notified details:

Class/type of shares

ISIN: GB00B126KH97

 Voting rights attached to shares

Situation previous to the Triggering Transaction: None ordinary shares of 0.01p each, Number of voting rights: 18,197,718

Resulting situation after the triggering transaction: Number of shares: None Number of voting rights: None (direct) Less than 5% (indirect), %age of voting rights: 0% (direct) Less than 5% (indirect).

B: Financial Instruments

N/A

C: Financial Instruments

Type of Financial instrument: Equity CFD

Number of voting rights instrument refers to: Less than 5%

% of Voting rights: Less than 5% (Delta)

Total A+B+C

Number of voting rights Less than 5%

Percentage of voting rights Less than 5%

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 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:

OZ Management LP and OZ Management II LP act as investment manger for certain investment funds and those funds beneficially own the shares and financial instruments that are the subject of this notification. Och-Ziff Management Europe Limited is a subsidary undertaking of OZ Management LP and acts as a sub-advisor to OZ Management LP and OZ Management II LP. The investment funds in respect of which OZ Management II LP acts as investment manager do not and have never held a position in the issuer which exceeds a disclosure threshold.

14. Contact Name/Telephone Number:

Paul Eardley

Company Secretary

Telephone 0207 408 4444