European Electricals Base Strengthened

Kingfisher PLC 10 November 1999 KINGFISHER PLC STRENGTHENS EUROPEAN ELECTRICALS BASE - Kingfisher plc today announces acquisition in electricals market, making it number one in Belgium - Kingfisher plc the leading European retailer, today announces the acquisition of the business of Hugo Van Praag, Belgium's number two electrical group. The newly acquired business will be merged with Kingfisher's current Belgian operation, New Vanden Borre, to form the largest electricals group in Belgium. Hugo Van Praag had a turnover of BEF 2.2 bn (£37m/Euro53m) in 1998. The book value of the net assets being acquired at 31 December 1998 was approximately BEF 360m (£6m/Euro9m). Commenting on the acquisition, Kingfisher's Group Chief Executive, Sir Geoffrey Mulcahy said: 'This acquisition is another steady step to achieving our goal of being the electrical market leader in Europe. Our increased strength in Belgium will add to our electrical growth strategies already in place in the UK, France, Germany and the Netherlands. ' For further information: Kingfisher plc +44 (0) 207 724 749 Media Enquiries: Gwen Gober, Director of Corporate Affairs Tel: +44 (0) 20 7725 5714 Andrew Dowler, Financial Dynamics Tel: +44 (0) 20 7831 3113 Broker/Institutional Enquiries: Keith Williams, Director of Investor Relations Direct line: +44 (0) 20 7725 5776 Web-site address www.kingfisher.co.uk Notes to editors * Kingfisher is now the third largest electrical retailer in Europe. The Group's operation consists of Comet in the UK, New Vanden Borre in Belgium, Darty and BUT in France, ProMarkt in Germany, BCC in the Netherlands and Electric City in Singapore. * The first half year results of Kingfisher's electrical sector operations (reported, September 1999) reflected the impact of the substantial growth by acquisition achieved last year in France, Germany and Singapore, resulting in sales growth of 50.1%. Like-for-like sales growth of the sector was 2.4% while, on a pro-forma basis, all store sales growth was 7.3%. Electrical sector profits totalled £51.3 million, an increase of 10.1% over the previous year. * New Vanden Borre is focused on the retail of domestic electrical appliances and consumer electronics in Belgium: it currently employs 260 people with 20 stores. The merger with Hugo Van Praag will see these numbers increase to 546 and 50 respectively. In 1998 New Vanden Borre reported like for like sales growth of 14 % compared to market growth of 6%.

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Kingfisher (KGF)
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