Clarification Announcement

Torex Retail PLC
28 September 2005


                        Torex Retail plc (the 'Company')

                            Clarification Announcement


Further to the Company's interim results announced yesterday, the Board wishes
to clarify the intentions of Rob Loosemore as regards his holding of 28,124,999
ordinary shares of 1p each ('Ordinary Shares'), representing 8.72 per cent. of
the Company's issued ordinary share capital.

The Board confirms that Rob Loosemore, who remains wholly supportive of the
Company's stated strategy, has no present intention of selling any of the
Ordinary Shares held by him. As a measure of his support he has entered into an
extended formal lock-in agreement, the terms of which are as follows:

  • He will not be able to sell any Ordinary Shares until after the
    publication of the final results for the financial year ended 31 December
    2005

  • He will only be able to sell up to 15 per cent. of his holding of
    Ordinary Shares between the publication of the final results for the
    financial year ended 31 December 2005 and the publication of the final
    results for the financial year ended 31 December 2006

  • He will only be able to sell up to 15 per cent. of his holding of
    Ordinary Shares between the publication of the final results for the
    financial year ended 31 December 2006 and the publication of the interim
    results for the financial period ended 30 June 2007

  • Thereafter, and throughout the preceding period, any sale must be made
    through a broker approved by the Company in order to maintain an orderly
    market in the Company's Ordinary Shares

These arrangements are in a standard legal form and subject to certain limited
and common exceptions.

28 September 2005



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