Statement re Argos

GUS PLC
19 February 2003

                                                                        19/2/03


          ARGOS REJECTS OFT DECISION AND LAUNCHES LEGAL CHALLENGE



Argos today is launching an immediate legal challenge to what it believes is a
wholly unfounded and unjustified ruling by the Office of Fair Trading ('OFT').
Argos firmly rejects the OFT's assertion that it is or has been involved in any
price fixing activity with either Hasbro or Littlewoods.



The OFT's case is based on unreliable and contradictory testimonies provided
solely by Hasbro, which has been found guilty in a prior case and has negotiated
full leniency in return for supporting the OFT's unfounded case against Argos.
It has provided Argos with no evidence of any collusion between Argos and either
Hasbro or Littlewoods, despite having had full access to and co-operation from
Argos and its employees.



Kate Swann, Managing Director of Argos, commented:



'We reject this ruling in the strongest terms and have instructed lawyers to
launch an immediate appeal.  We completely refute any suggestion that Argos has
been involved in price fixing or anti-competitive activity.



We are extremely surprised that the OFT is prepared to base its case on
contradictory and unreliable evidence from Hasbro.'



None of the OFT's findings affects Argos' ongoing business practices. The toy
market in the UK is very price competitive and Argos prides itself on the great
value of its toy offer.  Argos is committed to providing choice, value and
convenience across all of its ranges and for all of its customers.



Enquiries



Rupert Younger                Finsbury Group                     020 7251 3801
Rollo Head
Jenna Littler


Sheila Williams                Media Relations Manager, Argos    01908 600382


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