China Stores Acquisition

Kingfisher PLC
26 November 2004

For immediate release

26th November 2004

               Kingfisher announces stores acquisition in China

Kingfisher plc, Europe's leading home improvement retailer, today announces an
accelerated expansion of its B&Q business in China with the acquisition of five
leasehold hypermarket stores from PriceSmart, a privately-owned Chinese company.
The total consideration for all the properties is £6.95 million, payable in
cash, with payment conditional on completion of the transfer of each store.  The
five vacant stores are expected to be converted to the B&Q format during 2005.

The acquisition will strengthen B&Q's position in the highly attractive home
improvement market in China, where it is the market leader with 20 stores.  The
new stores will also extend B&Q's reach into cities in the West and North East
of China, which had already been targeted for new openings.  The new sites are
in addition to the planned opening of seven to nine new B&Q stores in China
during 2005/06.

Kingfisher's B&Q China operations recorded sales of £131 million in the year to
31 January 2004, up 64% on a constant currency basis.  The business also moved
into profit for the first time with a full year profit of £0.4 million, after
all store opening costs. Kingfisher opened its first B&Q store in China in 1999.

The PriceSmart stores being acquired are all large units of 8,000-9,000 square
metres.  Two stores are located in the North East, two in the West and one in
the North.

Ian Cheshire, Kingfisher's chief executive, international and development, said:
'Kingfisher has been performing extremely well in China, which is one of the
most exciting retail markets in the world.  This deal enables B&Q to accelerate
its expansion there and to consolidate its position as market leader.'


Enquiries:

Ian Harding, Director of Communications                       0207 644 1029

Nigel Cope, Head of External Communications                   0207 644 1030

Heather Ward, Head of Investor Relations                      0207 644 1032


Notes to editors:

Kingfisher is Europe's leading home improvement retailer and the third largest
in the world, with 588 stores in nine countries in Europe and Asia. Kingfisher
operates the B&Q format in Asia, where it is the market leader in China (20
stores) and Taiwan (17 stores). The first B&Q store in South Korea is due to
open next year.

PriceSmart is a private local Chinese business franchised from the US company,
Price Club. It has 14 membership warehouse stores in China under the PriceSmart
name and 40 supermarkets which trade as N-mart.



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