23 January 2015

Next plc

Close Period Share Repurchase Programme

Next plc announces that it has lodged an irrevocable, non-discretionary instruction to purchase its own shares for cancellation during its close period. This may or may not result in Next plc shares being purchased but in any event the maximum amount of shares acquired will not exceed 1,500,000 (one million five hundred thousand) shares. The first day of any purchases will be Monday 26 January 2015 and the last day will be Friday 13 March 2015. The Company's results for the year ending January 2015 will be released on Thursday 19 March 2015.

Any shares purchased will be effected within certain pre-set parameters, and in accordance with both Next's general authority to repurchase shares and Chapter 12 of the Listing Rules which requires that the maximum price paid for each ordinary share (exclusive of expenses) to be limited to no more than the higher of 105% of the average of the middle market price of the Company's shares according to the Daily Official List of the London Stock Exchange for the five business days immediately preceding the date of purchase and the amount stipulated by Article 5(1) of the Buy-back and Stabilisation Regulation 2003.