31 July 2006
GUS announces that it intends to make a tender offer for the above bonds at a price of par plus accrued interest. Full details will be announced in due course.
This offer follows the announcement on 27 July 2006 concerning the timetable for the proposed demerger of Argos Retail Group and Experian and the posting of documents to shareholders. The offer is intended to allow the exit from the Notes of noteholders who are concerned that the demerger may give rise to an event of default. GUS intends to fund any repayment by means of the bank facility which it has put in place for that purpose.
| GUS | ||
| David Tyler | Group Finance Director | 020 7495 0070 |
| Antony Barnes | Group Treasurer | |
| Finsbury | ||
| Rollo Head | 020 7251 3801 |