Sale of Comet

Friday 3 February 2012

Sale of Comet

Kesa Electricals plc (the "Company" or "Group") announces that it has today completed as scheduled the sale of Comet Group plc, its subsidiaries and Triptych Insurance N.V. to Hailey Holdings Ltd and Hailey Acquisitions Limited, entities advised by OpCapita LLP.

As previously stated, the actual net debt in the business exceeded the agreed net debt threshold on completion by £13.6 million, in line with the range announced on 19 January.

ENDS

Enquiries

Analysts

Kesa Electricals plc

Simon Ward +44 (0) 20 7269 1400

Media

Kesa Electricals plc

Simon Ward UK +44 (0) 20 7269 1400

Vinciane Beurlet France +33 (0) 1 43 18 52 00

Finsbury

Rollo Head +44 (0) 20 7251 3801

Jenny Davey

BofA Merrill Lynch +44 (0) 20 7628 1000

Solon Kentas

Andrew Tusa

George Close-Brooks

Citigate Dewe Rogerson (for OpCapita) +44 (0) 20 7638 9571

Grant Ringshaw

Tom Baldock

Merrill Lynch International ("BofA Merrill Lynch") acted as financial adviser to the Company in connection with the disposal. BofA Merrill Lynch acted exclusively for the Company in connection with such disposal and for no one else and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the disposal.