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House Of Fraser PLC (HOF)

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Wednesday 27 September, 2000

House Of Fraser PLC

Store Acquisition

House Of Fraser PLC
27 September 2000

House  of Fraser PLC ('House of Fraser') today announced
that it  has reached  an  agreement  to  acquire  Bentalls'
Bristol  store.   The purchase of the leasehold interest in
the store will be undertaken by BL  Fraser, House of
Fraser's property joint venture with The British Land
Company PLC, for £15.6 million in cash.  This will be funded
by a non-recourse bank loan to BL Fraser amounting to £8.8
million, with the  balance  being provided equally by House
of Fraser  and  British Land.    In   addition,  House  of
Fraser  will   purchase   certain merchandising fixtures for
£0.75 million in cash.

The  store trades from 12,075 square meters (130,000 square
feet) and is  situated in a prime location within the
Broadmead shopping  area. The store was comprehensively
refurbished by Bentalls in 1998. 

House   of  Fraser's  chief  executive,  John  Coleman,
said  today: 'Following the closure of Dingles, our store in
the Clifton  area  of Bristol, in January of this year, we
have been very keen to  find  an alternative  location in
this major retailing regional centre,  which has
traditionally been very successful for House of Fraser.

This  is both  an early opportunity to return to the city
and to operate  from an excellent retail location'.
The  acquisition is subject to Bentalls' shareholders'
approval, with completion scheduled for 25 January 2001.
The  store  marks  another step in House of  Fraser's  store
opening programme.   The Group has further new stores
scheduled  to  open  in High  Wycombe,  Maidstone,  Norwich
and the  City  of  London,  while substantial redevelopments
of its Oxford Street and Guildford  stores will be completed
this autumn.

Further inquiries:

House of Fraser PLC                          Square Mile Communications
John Coleman, Chief Executive                David Simpson
David Adams, Finance Director                
Tel: 020 7963 2427                           Tel:020 7601 1060