Notification of Major Interests in Shares

1.

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

Home Retail Group plc

2.

Reason for notification:

An acquisition or disposal of voting rights

3.

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

Standard Life Investments Ltd

4.

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

Vidacos Nominees

5.

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

11 September 2008

6.

Date on which issuer notified:

12 September 2008

7.

Threshold(s) that is/are crossed or reached:

5%

8.

Notified Details:

A: Voting rights attached to shares

Class/type of shares (If possible use ISIN code)

GB00B19NKB76

Situation previous to the triggering transaction

Number of shares

Number of voting rights

44,487,549

44,487,549

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Percentage of voting rights

Direct

Indirect

Direct

Indirect

42,515,857

29,482,080

13,033,777

3.360%

1.485%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

Total (A+B)

Number of voting rights

Percentage of voting rights

42,515,857

4.845%

9.

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

Standard Life Investments Ltd

Proxy Voting:

10.

Name of 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:

14.

Contact name

Alison Kennedy

Corporate Governance Manager - Engagement

Standard Life Investments Ltd

15.

Contact telephone number

(0131) 245 2289