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2 September 2016

DIRECTORATE CHANGE

Home Retail Group plc (the "Group") today announces that Richard Ashton, its Chief Financial Officer, will be stepping down from his role upon completion of the proposed acquisition of the Group by J Sainsbury plc ("Sainsbury's").

Richard joined Argos Retail Group as Finance Director in 2001 and became Chief Financial Officer of the Group in 2006 upon demerger from GUS plc.

John Coombe, Chairman said:

"On behalf of the Group, I would like to thank Richard for his exceptional service to the business over the last fifteen years both before the demerger from GUS plc in 2006 and, since then, as a board member of Home Retail Group plc. His commitment and contribution have been immense particularly during the recent period of intense corporate activity. Richard will remain with the business on an interim basis to support its successful transition and, thereafter, we wish him well for the future."

Gordon Bentley

COMPANY SECRETARY