Shareholder Documents

Next PLC
20 November 2002



              PROPOSED CAPITAL RECONSTRUCTION OF NEXT PLC ('NEXT')



Further to the announcement released on 7 October 2002 in connection with the
proposed capital reconstruction of NEXT, please note that copies of the circular
to NEXT shareholders and the listing particulars relating to NEXT Group Plc
('NEXT Group') have been submitted to the UK Listing Authority and will shortly
be available for inspection at the UK Listing Authority's Document Viewing
Facility at 25 The North Colonnade, Canary Wharf, London E14 5HS.



For further information please contact:


NEXT


Simon Wolfson, Chief Executive                             Tel: [phone]
David Keens, Group Finance Director                        Tel: [phone]


LAZARD


Jonathan Dawson                                            Tel: [phone]
Nigel Costain                                              Tel: [phone]



Lazard & Co., Limited ('Lazard'), is acting for NEXT and NEXT Group in
connection with the scheme of arrangement of NEXT (the 'Scheme') and the listing
of the ordinary share capital of NEXT Group (the 'Listing') and no-one else and
will not be responsible to anyone other than NEXT and NEXT Group for providing
the protections offered to clients of Lazard nor for providing advice in
relation to the Scheme or the Listing or any other matters referred to herein.



Terms and expressions used in this announcement shall have the same meaning as
those used in the circular posted to NEXT shareholders on 7 October 2002 unless
the context otherwise requires.






                      This information is provided by RNS
            The company news service from the London Stock Exchange