Disposal

GUS PLC
17 November 2003



17 November 2003


                                    GUS plc

                          Disposal of Property JV

GUS plc today announces that it has sold its 50% equity stake in its property
joint venture to The British Land Company PLC, its joint venture partner, for
£120m. In addition, GUS has received £43m from the repayment of loans it had
made to the joint venture. The disposal will result in a small exceptional loss
in the year to March 2004 of about £5m. The proceeds will be used to pay down
debt.

John Peace, Chief Executive of GUS plc, commented:
'Since 2000, we have been refocusing GUS on our chosen growth businesses. The
disposal of our property joint venture is a further natural step in this
process.'

Enquiries:

GUS
David Tyler, Finance Director                          020 7495 0070

Fay Dodds, Director of Investor Relations

Finsbury
Rupert Younger                                        020 7251 3801
Rollo Head

GUS announcements are available on its website: www.gusplc.com


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