TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

For filings with the FSA include the annex

For filings with issuer exclude the annex

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

Knight Vinke Asset Management LLC for itself and on behalf of other Knight Vinke companies and partnerships

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

State Street Bank and Trust Company, on behalf of

Knight Vinke Institutional Partners I, L.P. ("KVIP I"), Knight Vinke Institutional Partners II, L.P. ("KVIP II"), Knight Vinke Institutional Partners V, L.P. ("KVIP V"), and KV Services II Limited.

Bank of New York Mellon, Massachusetts on behalf of KV Services II Limited

UBS, Luxembourg on behalf of KV Services Limited

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

22nd February 2012

6. Date on which issuer notified:

24th February 2012

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

At 21.30% shareholding with all voting rights

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

111,136,737

111,136,737

112,771,635

112,771,635

21.30%

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

112,771,635

21.30%

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 II Limited, KV Services Limited and KV Services II Limited being investment managers in the Knight Vinke Group and KVIP I, KVIP II and KVIP V (together the "Knight Vinke Group").

Proxy Voting:

10. Name of the proxy holder:

State Street Bank and Trust Company, UBS and BNY Mellon as detailed in #4

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

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

13. Additional information:

Knight Vinke total holding of 112,771,635 shares represents 21.30% of shares outstanding.

As part of this total some named entities within the Knight Vinke Group have major interests in the 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