Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

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

Kesa Electricals 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

An event changing the breakdown of voting rights

Other (please specify):

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

Teacher Retirement System of Texas

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

State Street Bank and Trust Company, on behalf of KV Services II Limited.

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

24th March 2011

6. Date on which issuer notified:

28th March 2011

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

3.62% although the shareholding is managed without any right to exercise voting rights or proxies by KV Services II Limited, a Knight Vinke company. If aggregated, although not technically required to do so, with all Knight Vinke companies the percentage would be 17.64%.

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB0033040113

15,106,617

15,106,617

19,193,037

19,193,037

3.62%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

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

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

19,193,037

3.62%

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

Knight Vinke Asset Management LLC,KVAM International Limited, KVAM International II Limited, KV Services Limited, SSP Services Limited, KV Services II Limited and KV Co-Investments Limited being investment managers in the Knight Vinke Group and KVIP I, KVIP II, KVIP IV and KVIP V (together the "Knight Vinke Group").

Proxy Voting:

10. Name of the proxy holder:

State Street Bank as detailed in No 4 above

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

KV Services II Limited, a Knight Vinke company is filing for and on behalf of the Teacher retirement System of Texas. If this holding was aggregated, although not technically required to do so, with all Knight Vinke interests the percentage would be 17.64%. (93,436,368 shares)

Notification using shares in issue figure of 529,553,216

14. Contact name:

Simon Enoch, Company Secretary

Kesa Electricals plc

15. Contact telephone number:

020 7269 1400