Invitation Memorandum

GUS PLC
04 August 2006

For immediate release
4 August 2006

                                    GUS plc
                        £350,000,000 5.625% Notes due 2013
                              Invitation Memorandum
                                        

Following an announcement by GUS plc on 31 July 2006, the Company today provided
an Invitation Memorandum to holders of its £350,000,000 5.625% Notes due 2013,
inviting holders to offer to sell any or all of their Notes to the Company at a
price of 100% of their principal amount plus accrued and unpaid interest up to,
but excluding, the settlement date, which is currently expected to be Thursday 7
September 2006. The invitation will expire at 12.00 noon on Tuesday 5 September
2006.

David Tyler, Group Finance Director, commented:

'We are giving the Noteholders a choice. If they are truly concerned about a
risk of default and want their money back, we will repay them promptly: they
should either approach the Trustee or respond to our tender offer. We have a
committed bank facility which we can use to repay the Notes, and none of our
other debt would cross-default.'

Noteholders are advised to refer to the Invitation Memorandum for the full terms
and conditions of the invitation. Noteholders may obtain copies of the
Invitation Memorandum from the Tender Agent, Lucid Issuer Services Limited at
[phone] or by email at [e-mail]. The Invitation Memorandum is
also available for inspection at the UK Listing Authority's Document Viewing
Facility which is situated at Financial Services Authority, 25 The North
Colonnade, Canary Wharf, London E14 5HS.


Enquiries
GUS
David Tyler        Group Finance Director                     020 7495 0070
Antony Barnes      Group Treasurer


Finsbury
Rollo Head                                                    020 7251 3801




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