Accounting Reference Date

Retail Stores PLC
30 November 2000

                              RETAIL STORES PLC

                     SETTING OF ACCOUNTING REFERENCE DATE



Retail Stores Plc ('Retail Stores' or the 'Company') announces that it is
setting its accounting reference date as 31st March.


The Company's principal asset is its wholly-owned subsidiary, Liberty Plc,
which it acquired in July 2000. Due to the significant changes in the
management and financial structure of Liberty since its acquisition by Retail
Stores, the Company will not be releasing an interim statement for the 3 month
period from acquisition to 30th September 2000.


Retail Stores will prepare an interim statement for the period to 31st
December 2000 and a trading update, which will cover trading by Liberty since
its acquisition in July 2000, and the key Christmas and New Year sales periods
respectively.


The Company proposes to announce preliminary results for the 12 months from
incorporation in April 2000 to 31st March 2001 during the second quarter of
2001.


For further information, contact:
Andrew Blurton, Retail Stores Plc.                   Tel: [phone]
Baron Phillips, Bankside Consultants.                Tel: [phone]