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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:

Standard Life Investments Ltd

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

Vidacos Nominees

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

14 January 2010

6. Date on which issuer notified:

15 January 2010

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

7%

8. Notified details:

Class/type of shares GB00B126KH97

A: Voting rights attached to shares

Situation previous to the Triggering Transaction: 91,255,687 ordinary shares of 0.01p each, Number of voting rights: 91,255,687

Resulting situation after the triggering transaction: Number of shares : 88,577,406, Number of voting rights: 39,928,854(direct) 48,648,552 (indirect), %age of voting rights: 3.103% (direct) 3.781% (indirect).

B: Financial Instruments

N/A

Total A +B

Number of voting rights: 88,577,406, %age of voting rights: 6.884%

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

N/A

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 4444

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