Re Directorate

Retail Stores PLC
13 November 2000



                              RETAIL STORES PLC:

APPOINTMENT OF NEW CHIEF EXECUTIVE + HEAD OF LIBERTY

Retail Stores Plc ('Retail Stores'), the AIM listed company which acquired the
department store group Liberty in July, today announces the appointment of
Fiona Harrison as Chief Executive of both Retail Stores and Liberty, with
effect from 4th December 2000.

Ms Harrison, 49, is a highly experienced fashion and clothing retailer with a
strong background in brand marketing.

Following fourteen years in various international marketing and general
management roles with Clairol Inc., part of Bristol-Myers Squibb, she then
joined Coats Viyella Plc in 1991 and spent seven years as Chief Executive of
the company's fashion retail division.

At Coats Viyella , she was responsible for the design, sourcing, manufacture,
retail and wholesale distribution of branded clothing both within the UK and
overseas. Key brands included Jaeger, Viyella and Van Heusen.

The division had a turnover of over £200m, employing 4,000 people. She was
appointed to the Board of Coats Viyella Plc in 1995 and left the company in
1998.

She currently holds non-executive directorships with The Boots Company Plc,
where she has been a director since 1994, SMG Plc and Thorntons Plc. She was a
non-executive director of Kenwood Appliances Plc between 1992-1995. Ms
Harrison is also currently a partner with Stork & May, Career Strategy
Consultants.

Retail Stores, which is 68% owned by Marylebone Warwick Balfour Group Plc, was
the vehicle created to acquire Liberty Plc in July of this year. As Chief
Executive, Ms Harrison will be responsible for re-establishing Liberty as an
international luxury brand and for re-focusing Liberty's retailing operations.

Richard Balfour-Lynn, Chairman of Retail Stores, commented: ' We are delighted
that Fiona has accepted our invitation to join the Board of Retail Stores and
to spearhead the revitalisation of Liberty.  We believe she will establish
Liberty once more as a leading international luxury brand.

'Fiona brings a wealth of retailing and brand management experience to Liberty
together with wider international business experience that will be critical in
developing key overseas markets for Liberty.'

Fiona Harrison said: 'I believe this is a tremendous opportunity to
re-establish the Liberty brand, which has suffered from under investment and a
lack of clear strategic direction, both here and overseas.

' I have been impressed by Retail Stores' commitment to revitalising Liberty
and the level of investment it is prepared to make. With that level of
support, and with such a strong brand heritage, I firmly believe Liberty will
now be able to realise its true potential.'

Contact:

Richard Balfour-Lynn, Chairman, Retail Stores Plc.       Tel: [phone]

Baron Phillips, Bankside Consultants.                    Tel: [phone]