DEB Debenhams

RNS Number:3780H
Debenhams plc
08 August 2006

8 August 2006

                                 DEBENHAMS plc

  Debenhams Acquires Nine Stores in Ireland and steps up UK opening programme


Debenhams plc announces that a contract has been signed today for the
acquisition from Roches Stores of nine leasehold stores in the Republic of
Ireland.


The acquisition, an asset purchase by Debenhams Retail (Ireland) Limited, will
be for a consideration of Euro29 million plus the value of stock.  The Euro29 million
is payable in three instalments, Euro15 million at completion, Euro5 million on the
first anniversary and Euro9 million on the second anniversary following completion.
The acquisition will be funded from existing cash and bank facilities.


The stores, which are in Henry Street, Dublin; Blanchardstown; Blackrock;
Tallaght; Cork; Limerick; Tralee; Galway and Waterford, have a total trading
space of 500,000 sq ft.  Debenhams will acquire the assets in these stores and
the properties will be leased to Debenhams.  The acquisition is expected to be
earnings enhancing during the financial year ending August 2008.


Debenhams intends to convert the stores and introduce its unique mix of designer
products, concessions and international brands over a period of six to twelve
months.


Completion is subject to a number of conditions including Irish Competition
Authority clearance.


Rob Templeman, Chief Executive Officer, Debenhams, said: "There are significant
opportunities to grow our department store portfolio across the UK and Republic
of Ireland at attractive returns.  We are pleased to announce the acquisition of
nine stores in the Republic of Ireland today, which considerably boosts our
local presence".



These further nine stores will bring the total number of Debenhams' stores in
the UK and Republic of Ireland to 135, including existing stores in Dublin, Cork
and Newbridge and  four Desire by Debenhams stores.


At the time of admission to the London Stock Exchange on 9th May 2006, Debenhams
reported that it had signed contracts to open 21 new department stores by the
end of the 2011 financial year.  Since that time, the Doncaster and Workington
stores have opened and further contracts have been signed for four additional
department stores in the UK, at White City (London), Bury (Greater Manchester),
Livingston and Newport (Gwent).


Contracts for four Desire by Debenhams stores (in addition to the four existing
stores) have also been signed, three of which will be open before Christmas (at
Birmingham Fort, Kirkcaldy and Merthyr Tydfil) and the other, at
Walton-on-Thames, before Easter next year.


Debenhams will give an update on trading for the year ending 2 September, 2006
on Monday 18 September, 2006.  Preliminary results for the year ending 2
September will be announced on 24 October, 2006.


                                     -ends-

Enquiries:


Media


Gainsborough Communications

Andy Cornelius                   020 7190 1703

Duncan Murray                    020 7190 1704



Analysts


Debenhams plc

Rob Templeman, Chief Executive

Chris Woodhouse, Finance Director



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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