29 April 2005
Argos is disappointed with the Competition Appeal Tribunal's judgment on the penalty. Argos continues to maintain vigorously its innocence and will be seeking leave to appeal against what we believe to be an unfair decision. We do not believe that the OFT has proved its case.The toy market in the UK is very price competitive and Argos, as the number one player in the market, prides itself on the great value of its offer. Argos is committed to providing choice, value and convenience across all its ranges and for all customers.
A provision of about £16m to cover the fine and associated interest costs is being made in the year to 31 March 2005 and charged against the operating profit of Argos.
| GUS | ||
| David Tyler | Group Finance Director | 020 7495 0070 |
| Fay Dodds | Director of Investor Relations | |
| Finsbury | ||
| Rupert Younger | 020 7251 3801 | |
| 020 7251 3801 |
GUS announcements are available on its website, www.gusplc.com.