Statement re. (CMA)

25 August 2015

POUNDLAND GROUP PLC

CMA provisionally clears Poundland/99p merger

The UK Competition and Markets Authority ("CMA") has today published its preliminary findings in relation to its Phase 2 review of the proposed acquisition of 99p Stores Ltd ("99p Stores") by Poundland Group plc ("Poundland"). The CMA has provisionally concluded that the merger may not be expected to result in a substantial lessening of competition and has therefore provisionally cleared the anticipated acquisition of 99p Stores by Poundland.

Poundland welcomes the CMA's provisional conclusion and is studying the report's findings in detail. We look forward to working further with the CMA ahead of the publication of the full review in October.

Jim McCarthy, Chief Executive of Poundland, said:

"We welcome the CMA's provisional clearance of our acquisition of 99p Stores and we look forward to a satisfactory conclusion to its Phase 2 review. We continue to believe that the acquisition of 99p will be great for customers and for shareholders alike."

Further information on the CMA's investigation into Poundland's proposed acquisition of 99p Stores is available at: https://www.gov.uk/cma-cases/poundland-99p-stores-merger-inquiry.