Argos OFT Fine

GUS PLC
29 April 2005


29 April 2005

                                    GUS plc
                                 Argos OFT fine

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.


Enquiries

GUS
David Tyler     Finance Director             020 7495 0070
Stuart Ford     Investor Relations Manager

Finsbury
Rupert Younger                               020 7251 3801
Rollo Head

GUS' announcements are available on its website, www.gusplc.com.







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