TR-1 NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Debenhams plc

2.    Reason for the notification     

An acquisition or disposal of voting rights

3.    Full name of person(s) subject to the notification obligation:

Bestinver Gestion S.A., SGIIC

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

35 investment institutions managed by Bestinver Gestion S.A. SGIIC

5. Date of the transaction (and date on which the threshold is crossed or reached if different):

11 July 2008

6. Date on which issuer notified:

14 August 2008

7. Threshold(s) that is/are crossed or reached

12%

8. Notified details:

Class/type of shares GB00B126KH97

A: Voting rights attached to shares

Situation previous to the Triggering Transaction:  104,383,513 ordinary shares of 0.01p each, Number of voting rights: 104,383,513.

Resulting situation after the triggering transaction: Number of shares 105,837,670 ordinary shares, Number of voting rights 105,837,670 (direct) 0 (indirect), %age of voting rights 12.099% (direct) 0% (indirect).

B: Financial Instruments

N/A

Total A +B

Number of voting rights 105,837,670 ordinary shares, % of voting rights 12.099%

9.  Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable.

35 investment institutions managed by Bestinver Gestion S.A., SGIIC

Proxy Voting:

10. Name of the proxy holder: 
 n/a

11. Number of voting rights proxy holder will cease to hold:

n/a

12. Date on which proxy holder will cease to hold voting rights:
n/a

13. Additional Information:

14. Contact Name/Telephone Number:

Paul Eardley

Company Secretary

Telephone: 0207 408 3529

• News Channel